For IT, some of the ways to cut costs are as below: 1. Analysis on software utilisation and rationalising licenses 2. Standardisation of all hardware purchases and models to get volume discounts 3. If there is spend pertaining to application development then offshoring that 4. Conducting total cost of ownership on in-house vs outsourcing IT management 5. bring your own device 6. etc.

Thank you, Yash for recommending your answer.