The Barrel

Cost-Conscious Companies Turn to Open Source Software

Posted on December 7th, 2008 at 6:22 am

 

After the tech bubble burst, E*Trade’s technology chief, Lee Thompson, needed to find a way to do more with less. In 2001 and 2002, the online stock trading company shrank its tech budget by one-third. "We had to go through and figure out every penny that we were spending and make alternatives to reduce those costs," says Thompson, vice-president and chief technologist of E*Trade. So he began using software that can be downloaded at no cost via the Internet. By the end of 2002, he was saving $13 million a year thanks to use of these freely available applications known as open source software.

Now this is a topic that I have had the pleasure to witness myself, as numerous small to medium business’s in the area have contacted me interested in converting to open source software with it’s price advantage’s, Baldy

Cost-Conscious Companies Turn to Open Source Software

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