Next Step: Read the below article from the leader in hosted DNS, Dyn. Decide if self-hosted DNS is a strategic, competitive differentiator for you. If not, meet with an industry leader such as Dyn to learn why they are a leader (architecture, technology, process). Build financial model to compare cost/benefit and if its close, outsource it.
For years now, the real value of IT has been in creating and maintaining competitive differentiation and advantage for business users. Since Nicholas Carr’s watershed article from over a dozen years ago, if a technology is not a strategic differentiator, then why own and operate it yourself? If your shop can “do it better” than the alternative, that’s fine but you should challenge that every budget cycle, or more frequently.
Continually re-look and re-think every item making up the IT operational budget and see if it can be shifted out, not to eliminate IT budget, but to shift it from run-the-business to grow/change-the-business (data, process and integration).