What do you do with the money your business has saved? Successful FinOps and cloud cost optimisation activities are opening the door to a world of reinvestment opportunities for organisations – and the possibilities are far-reaching.
So, you’ve started your cloud optimisation journey and the cost savings are both exciting and tangible. Great! But aside from a quick trim of cloud costs, have you thought about what happens next? Do you let those savings flow back into the company’s coffers, or is reinvesting into the cloud the aim of the game?
While the latter option is a smart approach to cost optimisation, it’s an opportunity that can end up being passed up simply because of the daunting task of choosing where reinvestment needs to be channelled – it’s not as easy as simply spending the money, after all.
Luckily, while the possibilities are vast and varied, some strategic thinking can offer businesses the opportunity to make some smart investments that pave the way to a bright, growth-filled future.
1. Reinvesting Cloud Savings in Security
Cybersecurity is at the forefront of every business owner’s mind, with increasing threats and intelligent technology making unbeatable security one of the main priorities for any business.
Of course, all that additional security costs money. Thankfully, businesses can redirect cost savings towards implementing levelled-up Microsoft security licensing, enhanced security products, and a Zero Trust model for a proactive approach to eliminating risk.
This option is especially powerful for organisations looking to craft or improve their hybrid working approach, freeing up the resource to secure workers and their devices wherever they are. Alternatively – but still with a focus on people – funds can contribute towards employee training or managed security services.
2. Get to Know Your Customer
Customer experience and personalisation is key for any customer-facing business, making this a perfect area to invest any extra cash. By doing so, businesses will be enhancing customer experiences whilst gaining an important competitive edge and long-term customer loyalty.
An example of reinvesting cloud savings in this area could be funnelling resources into cloud-bases analytics technology, in order to receive and analyse customer data in real-time, leading to understanding customer preferences quickly. From here, it’s possible to proactively offer personalised recommendations and services. Similarly, investing in market research and customer satisfaction/Net Promoter Score (NPS) initiatives can generate insights you might not have been able to afford previously.
Using the spare money on marketing efforts can also help with tailored communication and marketing campaigns, boosting existing customer engagement and benefiting the overall relationship, while further boosting your message.
3. Upskill Your Workforce
Your people are at the centre of the business, and so it makes absolute sense to invest in their development. That can look very different for each business – some will see value in one-off workshops and certifications, while others could opt for training programs or sponsored mentorship.
By reinvesting cloud savings into up-skilling, businesses can develop the most capable workforce to meet their organisational objectives, equipping employees with a comprehensive understanding of best practices, key abilities, and essential understanding.
On the other hand, cloud cost savings could also be reinvested into the cloud management tools and solution licences employees need to streamline processes, prevent errors, and remove the time-consuming tedious items from their to-do lists.
4. Put it Back into the Cloud
Although it might seem counter-productive to put something back where you found it, reinvesting savings back into the cloud can result in powerful results.
Choosing this reinvestment option, for example, can allow you to pick up where you left off with cloud projects that previously had to be paused. You’ll be able to accelerate their development and optimise resources by spending on the areas that matter most. Alternatively, maybe your cloud optimisation or FinOps programme identified unused cloud resources which can be leveraged for stalled projects with organisational value.
5. Use Cloud Savings to Go Green
Using your saved costs to reinvest into sustainability efforts is a great option to consider. Investing in eco-friendly technology or green initiatives won’t just positively impact the environment, public perception of your business, and employee engagement – embracing sustainable choices allows you to contribute towards tackling climate change, playing a crucial role in preserving the planet for future generations.
Initiatives aren’t limited just to waste reduction strategies and energy efficient hardware either: sustainable businesses can also optimise resource use to offset the use of energy-intensive datacentres.
Make Cloud Cost Optimisation Work For You
Before you can start reinvesting costs, you need to identify where those savings can come from. That’s where Surveil can help! By leveraging Surveil’s expertise and recommendations, you can confidently reinvest your cloud cost savings in a way that aligns with your unique objectives.
To kick-start your business’ cloud cost savings, contact your Microsoft Partner, or get in touch with the Surveil team to find out more.
