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FOR SMALLER FIRMS , UTILISATION CAN HAVE A WIDE RANGE OF BENEFITS . averse approach are hindering the ability of smaller businesses to commit to investing in new transformative technologies .

Despite this , small- and mid-tier firms still must find a way to maintain a competitive edge .

Getting the most out of what they ’ ve got

To keep up with their larger rivals , an increasing number of small- and mid-market enterprises are looking at ‘ utilisation ’, i . e ., getting the most out of what they ’ ve already got ; whether it ’ s hardware , software , cloud services or human resources .

Utilisation is a strategy which aims to ensure costs are minimised – and pace with rivals is maintained – while return on investment ( ROI ) remains as strong and predictable as possible .

The main way this is done is by optimising the use of existing technology , whether it ’ s hardware , software or other digital infrastructure , to maximise value . To make the strategy work , it ’ s a process of first conducting a comprehensive assessment of all technology assets in the business , before clearly defining the goals and objectives for each asset – which might include improving productivity , reducing costs , enhancing customer service or achieving compliance with industry standards .

Businesses should then look to implement a regular maintenance schedule to keep their tech stack up-to-date , including software updates , security patches and hardware maintenance to ensure everything functions smoothly .

For smaller firms , utilisation can have a wide range of benefits . This includes cost savings , which is important for businesses with limited budgets , particularly as utilisation can help extend the lifespan of existing tech assets and delay the need for expensive upgrades or replacements .

How CTOs can increase ‘ utilisation ’

Given the uncertain macroeconomic climate , more and more CTOs are turning to consultants and asking , “ What can you do to increase my utilisation ?”

CTOs , particularly for smaller businesses , are acutely aware of the strategic need to boost the utilisation of their tech stack . It can be seen as a dual strategy , not only for the cost savings but also to help maintain a competitive edge in a rapidly evolving digital landscape .

Companies are working harder than ever to understand the depth of features , functionalities and capabilities of the technology already at their disposal .