A new study has found that more than half of IT decision-makers name cost optimisation as the biggest challenge they face today.

The research from global IT services company Crayon reveals that controlling and managing the costs of an increasingly complex and expensive IT estate is keeping global IT decision-makers awake at night.  

Globally, only 54% currently believe they have an exact understanding of their IT costs. In the UK, a third of technology leaders flagged they lack knowledge on how to optimise their cloud spending, with another third stating they do not have the time to search for the best deals. 

Only half said they are able to negotiate on price with vendors and just a quarter have 100% visibility and control over their unused licences. 

The new data was obtained through a study conducted by Sapio Research, polling 2,050 IT decision-makers at large organisations (200+ employees) worldwide.  

“This study starkly highlights that IT cost optimisation is no longer optional – it’s essential to business survival,” said Crayon general manager Hayley Mooney. 

“Organisations need to control and manage their IT costs effectively without stifling the very innovation that IT enables, and Crayon can be a global partner to help deliver this level of strategic change.”  

Nine out of 10 global IT decision-makers believe the overall picture can improve, with heavy industry and VP-level respondents being almost unanimous in wanting better control and management of their IT spend. 

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The survey also reveals that 97% of UK technology leaders are aware of the need to make improvements in their cost control, while 92% list the optimisation of cost structure as a high priority for their organisation. 

Of UK decision-makers, 94% also agree that their companies would benefit from help in breaking down costs and identifying areas for optimisation. 

“Although it’s disheartening to learn that there is a lack of confidence and general education when it comes to IT cost optimisation, it is encouraging that leaders understand its importance to business health and are eager to get up to speed,” added Mooney.