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Join our session on Maximizing Profits in an Inflationary Market: Strategies for IT Service Providers to discover how you can overcome the challenges facing IT Service Providers in the current business environment. Learn how to compete effectively on price while also improving your margin. We will explore insights leveraging market price data, understanding industry-specific IT costs, and optimizing your client contracts. By aligning your core services and costs to the market, you can differentiate by offering value-added services, streamline solutions and increase profitability. Don't miss this opportunity to gain a holistic view of competitiveness and enhance your IT service business.

1. Competing effectively on price: IT service providers need to understand the market rates for outsourced services and have a consistent view of the competitive market prices. By staying informed about market pricing, they can bid more effectively, identify areas where prices can be increased, and minimize competitive renewals. This knowledge helps them compete at market rates while maintaining profitability.
2. Understanding industry-specific IT costs: Clients expect IT service providers to have a deep understanding of their industry and how their IT costs compare to their peers. By gaining insights into typical IT costs for different industries, service providers can advise their clients on optimizing IT spend, making them more competitive. This knowledge also leads to new business opportunities by offering cost-saving strategies and better outcomes to customers.
3. Aligning services and costs for improved margin: Winning a deal at market rates does not guarantee meeting margin targets. Service providers must take a holistic view of competitiveness and align their services and offerings to meet their margin goals. This involves analyzing their portfolio of costs, identifying areas for productivity improvement and operational cost reduction, and leveraging new technologies and processes. Additionally, service providers can capitalize on offering value-added services in the higher-margin space, such as transformational services, once a base service deal is in place.