The result is largely the same, but the journey to get there looks much different. Cost reduction is simply finding ways to cut back spending and reduce costs, while cost optimization is pursuing opportunities for automation that add value.
Cutting back on spending may sound tempting, but in the long run pursuing cost optimization will bring much more value to your organization.
The problem is recognizing the opportunities to automate processes and increase efficiency can be difficult at first.
Read our new cost optimization eBook and learn: