In today’s turbulent economic times, Software Asset Management is more important than ever given the many opportunities it provides to reduce costs. Companies can realize cost savings of up to 30%, by implementing an effective Software Asset Management program.

WHAT IS SOFTWARE ASSET MANAGEMENT?

Software Asset Management (SAM), is the practice of managing and optimizing an organization’s IT investments, including software and hardware purchases, deployments, maintenance, utilization, and disposal. Actively managing your IT investments enables you to identify multiple opportunities for cost savings.

Below, we look at 5 different ways Software Asset Management provides opportunities to reduce costs.

  1. IDENTIFYING SURPLUS SOFTWARE INVENTORY & UNNECESSARY SPENDING

Firstly, a Software Asset Management (SAM) program provides visibility into your organization’s existing IT assets. A 360 view of the software and hardware your organization currently has and is using is extremely valuable. As a result, you’ll be able to better understand your organization’s actual software requirements and determine your exact user needs; therefore, eliminating the costs associated with over-licensing or over subscribing.

  1. RE-HARVESTING & REUSING LICENSES

Secondly, SAM programs enable companies to reduce spend by identifying software licenses that can be re-harvested or reused. As a result, your organization does not need to invest in any unnecessary new software licenses. Instead, you can reclaim and reallocate software licenses to appropriate users.

  1. REGULAR REPORTING & INTERNAL AUDITS

Having an active Software Asset Management program allows for regular reporting and internal audits. This helps ensure organizations maintain compliance with vendor software license agreements. Poor record keeping and manual processes can result in unplanned expenses, in the case of an audit. But, with SAM, you can identify any issues and address them in advance, minimizing the financial risk. Having the right SAM processes and tools in place significantly cuts audit timelines and reduces potential costs.

  1. TRACKING AND MANAGING RENEWALS

Organizations often end up paying reinstatement fees for software licenses because their renewal or expiration dates have lapsed. For that reason, it is important to evaluate software maintenance contracts and term license renewals before their expiration date. A SAM program maintains reliable records on software assets and highlights those nearing their renewal or expiration date. This ensures you have enough notice to effectively manage your options and avoid unnecessary reinstatement fees.

  1. MORE ACCURATELY BUDGET FOR THE FUTURE

Lastly, SAM allows you to better understand your current IT environment. As a result, your organization will also be better equipped to plan for future software portfolio requirements. Above all, SAM enables you to receive an optimized return on investment and reduce costs.

ARE YOU READY TO REDUCE COSTS WITH SAM?

Now is the time to fully leverage the benefits of a Software Asset Management program. As noted above, there are numerous ways to realize significant savings by implementing an effective SAM program. All Blue Solutions Software Asset Management As-A-Service provides complete visibility into your organization’s software and hardware deployments, consumption, costs and licenses. Our experts in finance, legal, asset and cost management continually work to save you money. Even more, empower you to make the most informed decisions to increase the value of your software investments.

To learn more about our Software Asset Management As-A-Service schedule a free, no obligation consultation.

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