Three Reasons Procrastination Costs Organizations Millions
After speaking with other business owners and executives, I’ve concluded there are (3) primary reasons for this tendency to procrastinate savings.
David Baule
Chief Executive Officer
Published September 28 2020
David Baule
Chief Executive Officer
BETHESDA, MD September 28, 2020 - MISO3, the machine learning platform built to identify and extract information directly from your vendors, announces that TEDCO has joined its latest investment round.
"We are excited to have TEDCO as a Partner as we continue to grow our capabilities both in the State of Maryland and beyond", says David Baule, CEO of MISO3. "We believe working within the TEDCO ecosystem will benefit both MISO3 and its Partners."
The MISO3 technology platform (MISO) fills the growing knowledge gap between finance and operations. It allows businesses to actively inventory recurring vendor services, licenses and support commitments. Whether organizations are restructuring or simply eliminating waste, not having accurate and instantly available data on vendor liabilities is expensive.
MISO has been purpose-built to achieve the mission of knowing what you have, what you need, and when to act. MISO3 helps companies saves millions through eliminating distressed (active but no longer used) services and identifying savings opportunities.
"Our investments in MISO3 represents the role TEDCO plays to convene our ecosystem, driving economic empowerment, inclusion, diversity, and other critical growth objectives for all Marylanders," said Elizabeth Good Mazhari, interim managing director of investments, TEDCO.
"Both in the private and public sectors, organizations are realizing that simply tracking agreements is not enough," says Baule. "In these uncertain times, companies are trying to cut costs without reducing staff. Minimizing waste should be their first step. Unfortunately, most do not have the visibility or the process to question their growing services inventory. If unchecked, these accumulating costs act like termites, eating away at profitability."
After speaking with other business owners and executives, I’ve concluded there are (3) primary reasons for this tendency to procrastinate savings.
David Baule
Chief Executive Officer
Business services is a wide ranging industry that has continued to grow during the last decade. Companies rely on these services for marketing, legal, IT, staffing, logistics, etc. Any task that can be outsourced, will be outsourced, in an effort for larger companies to keep up with their work demand.
David Baule
Chief Executive Officer
Procurement buys it, Finance pays for it, and IT fixes it when it breaks. But who takes full responsibility on who uses it or who needs it?
David Baule
Chief Executive Officer