Back in the golden days of IT, when companies had plenty of money to throw around, it didn’t matter so much if there was a little wastage here and there. Today, however, budgets are tight and there isn’t much money to spare. That means IT departments need to take a good, hard look at where the money is going and where cuts can be made — before someone higher up does it for you.

In this TechRepublic Premium article, we look at 10 ways you might be letting precious money slip right through your fingers. Some of these may seem to be just common sense, but there are organizations out there right now that are wasting money in all these ways.

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4: Using consultants when the job could be done by staff

It’s a common scenario: Employees have been telling management for months or years that changes need to be made, but they’ve been ignored. Then the company hires a consultant, who charges tens or even hundreds of thousands of dollars to do a “study” and arrives at the same conclusion, providing the same advice staff members were trying to give away free.

If you have people on staff who have expertise in a particular area and have the time to do a job, it’s generally more cost-effective to allow them to do it than to bring in an outsider who has to spend many (billable) hours getting up to speed on how your company operates and what its specific needs are.

Learn how to save money with our in-depth 10-page PDF. This is available to download for FREE. Get access to more content with a Premium annual subscription. Use the code 25off-trp to get a 25% discount.

TIME SAVED: Crafting this content required 20 hours of dedicated writing, editing, research, and design.