Going green is another great way to improve the bottom line—with the added benefit of improving the environment. A dollar saved on recycling, waste reduction, or energy conservation is a dollar that goes directly to the company’s bottom line. IT can do everything that other departments do to go green, but we also have the tools to analyze data for tracking a company’s carbon footprint.

In the end, don’t skimp on your biggest asset—talent. These are the people who know the business and can help transform its processes and systems to become a leaner organization. The downturn is a great time to reinforce skills needed to connect with the business, e.g. business analysis, facilitation, and project management. Look for inexpensive ways to unleash creativity, such as doing brown bag lunches to cross-train staff or generate ideas. Engaging your staff in solutions to make your company more effective is a great way to build morale.