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What to Do with Your Software Inventory

Is one of your goals to lower software costs for your organization? Especially in IT departments, which are claiming an increasing part of corporate budgets, it’s becoming critical to keep software costs under control and eliminate inefficiencies in order to remain competitive. Fortunately, in almost every company there’s a significant opportunity to optimize software costs and the associated operational expenses.

It all begins with something you already have: the data of your entire IT landscape. What you do with this data is what matters. The real challenge is to create an overview of this data volume, understand the software lifecycle and find out which software is installed, which cloud services are in use and how they are used.

Step 1: Gain Transparency of Your Software Portfolio

In order to do this, you need:

  • A complete and up-to-date overview of your technical inventory
  • A software recognition tool to identify the right software title from your raw data
  • Specific information about each software installation, such as vendor, version, edition, language, license type, belonging to a software suite, functionality and installed patch version
  • Usage information about each software installation or subscribed cloud service
  • A solution that displays this data together in a clear dashboard

Once you have all of this information, you’re finally ready to move on!

Step 2: Manage Your Software Portfolio Actively

To develop a successful strategy for software portfolio optimization, you need to analyze your organized software data. One of your greatest opportunities to reduce costs is through consolidating your software, since purchasing in higher volume from fewer vendors allows you to negotiate greater discounts for the procurement. And by maintaining a less diverse software portfolio, you also reduce your internal costs for administration, support and training.

Another way to reduce software costs is to make sure that what you’ve already purchased is actually being used – and recycle unused software licenses to other employees, so you can avoid purchases of additional, unnecessary licenses.

By maintaining an organized, up-to-date software database, you gain insight into programs that could present great risks for IT security and compliance, such as the installation of programs licensed for non-commercial use, or games, file sharing applications, portable apps or end-of-life software.

Evaluating these opportunities for optimization and building a strategy for software portfolio management gives your company an enormous opportunity to reduce IT costs, support accurate budget planning and reduce the risks for IT security and compliance.

Survival Tip

Focus on finding a shelter that protects you from the ground, wind, cold or heat, rain and snow.

Are You Ready to Save Your Business, but You Lack the Resources?

Most organizations don’t have the staff, time or expertise to carry out in-depth software portfolio analyses, develop recommendations for optimization, and prepare business cases, prioritizations, and decision-making documents. We are here to help. An experienced partner like COMPAREX can help you fully optimize your software landscape and reach your goals more quickly.

In a 30 day trial of our managed service for Software Portfolio Management, you get to know:

Sign up for a trial or fill out the form below to get in contact with our experts.


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