The challenge: Difficulty managing technology spend
A private equity firm that manages over $140 billion in assets with offices in 20 cities and 16 countries was struggling to manage their technology spend, resulting in overcharges of $300,000 by leading telecom carriers over the course of several years. They needed professional assistance to recover the funds and repair those carrier relationships and to take control of their technology spend overall.
They were also looking to improve overall efficiencies for their IT team, scale costs, and improve their network design to accommodate evolving business and technology needs. They needed a technology advisor to help them prepare their network for future evolving technologies as they planned to move all of their solutions to the cloud.
The solution: FinOps for Intelligent Cost Management and a network redesign
We embedded the Sophia FinOps for Intelligent Cost Management solution into the company. Combining our highly experienced team - including a forensic accountant, leading software programmers, and technology analysts—with Sophia™, our proprietary technology expense management tool, enabled us to begin solving the spend issues. With Sophia, we created an optimization opportunity and prepared a detailed forensic claim analysis, navigating multiple supplier dispute processes both offshore and in the U.S.
We analyzed the company’s network infrastructure and developed a plan of action to move their solutions to the cloud over time. This involved developing an entire new network design to ensure it met future business and technical requirements. They needed to ensure network reliability and security to maintain business continuity and 99.999% uptime, all while supporting the growing cloud applications they planned to deploy.
The new design included Global Voice, Global Network Services for dedicated Internet access, and data center/co-location solutions across the entire organization to support their global infrastructure.
The result: $300K per month in savings to help fund critical network infrastructure updates
Our FinOps for Intelligent Cost Management solution saved the company $300,000 a month on technology spend. We were able to negotiate credits further back than contractually allowed while avoiding costly litigation, and helped repair carrier and supplier relationships throughout the process thanks to our strong strategic partnerships with nationally branded telecom carriers.
This significant technology savings helped offset the cost of network infrastructure updates that Pure IP managed, empowering the company to allocate more IT budget to update critical parts of their network infrastructure to prepare for future growth
Over the course of the next decade-plus, Pure IP continued to be the company’s global technology partner. The Pure IP team, which has forged deep relationships within the company, works on their behalf to find opportunities to renegotiate contracts for upgraded services without raising costs, keep pace with technology needs, and solve technology challenges as they arise. For example, Pure IP created location profiles, providing them with a technology “template” to create a consistent and streamlined process for new locations. And most recently, they added a Managed Security service to expand their cybersecurity protection.
