One of the ways of reducing costs, is to reduce frictions during the software development cycle. You can reduce frictions if you:
Invest in improving the developer experience.
Reduce the amount of distractions (unnecessary e-mails / Slack messages, queries, meetings)
Improve management practices. Clarity of purposes is becoming crucial now more than ever, clarify the goals and expected outcomes. Don’t obsess over the how. “Eyes On Hands Off”.