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Reduce Costs with COMPAREX Software Portfolio Management

There are four phases to the COMPAREX consulting approach for long-term software cost reduction. The following illustration shows these four steps of COMPAREX Software Portfolio Management:
Let´s have a closer look at the four phases:

1. Current Status Analysis

In the current status analysis phase, we want to get to know your software status-quo as well as your keyuser´s software preferences.

In the first phase we analyze:

  • Your system inventory
  • An optional provision of the COMPAREX Inventory
  • The software products that are in use
  • Your actual software utilization
  • Your current costs per product / vendor
  • Your critical business software
  • Which important events, such as contract renewals, you have to consider

Additionally, we create a personalized interview questionnaire to capture your individual requirements at the company. We’ll interview groups of users and product managers so that you can explain, why they need special software products or features.

2. Analysis

In this phase, we qualify your identified software with the help of our COMPAREX Profiler service and our expert team. This is the condition for a classification and a comparison of functionalities that will be displayed in the COMPAREX Dashboard. It makes sense to first take a look at the largest areas of spend in your software stock.

The second phase includes:

  • Support of data analysis by the COMPAREX Profiler Service
  • Classification of products by function and performance features
    • Display of classes with high diversification / consolidation potential
    • Indication of products with low utilization but with high costs
  • Identification of products requiring action
  • Prioritization according to ongoing costs or the degree of potential for cost savings
  • Grouping according to savings time frame (short-term, medium-term, long-term, permanent etc.)
  • Evaluation of the questionnaire results

With this information, you can choose how to proceed. If you don’t have the internal resources for  implementation, our experts are here to offer complete support.

3. Evaluation

In this phase we check which features the departments need at a more granular level than the analysis phase. Together we’ll determine concrete business cases to show the potential savings by consolidating specific software. We’ll also consider whether users have to be trained on new software, or what your contracts may look like.

The evaluation phase includes:

  • Calculation of business cases for products requiring action
    • Is it technically possible to replace/substitute the products?
    • What are your contractual options with the vendor with regard to consolidation?
    • What are the costs of replacement or substitution?
    • What are the costs for necessary conversion of documents to a new format?
    • What are the training requirements?
  • Discussion of business cases with purchasing department, product managers and IT strategy planners
  • Development of prioritization and quick wins

4. Optimization

In the optimization phase, we finalize your plans and get an “approval” from your management.

The optimization phase includes:

  • Demonstration / finalization of possible business cases and prioritization together with the responsible parties
  • Creation of recommendations for handling the products that require action (process-related optimization, omission, substitution, subsequent negotiation etc.)
  • Creation of a result report with procedural recommendations including costs, benefits and potential for cost savings
  • Documentation and presentation of results for various experts
  • Preparation of a management summary
  • Management presentation

This is also the phase where you can begin to take action. For example, the license purchasing manager can begin to negotiate with vendors for better conditions for their defined standard software. Or maybe they decide to stop contracts for certain software, which will be replaced by others.

Discover and Grow

With COMPAREX, there’s no need to purchase a large package like a complete Software Portfolio Management tool or an entire service right away.

Instead, you can use the COMPAREX Portfolio Management Platform to access a powerful and comprehensive catalog of software and the associated Software Portfolio Management service which grows as your needs and desires increase.

Additional functions such as cloud consumption monitoring can be easily activated, or you can choose a more comprehensive service later on, which provides your company with complete “license bookkeeping.”

With this “discover and grow principle,” COMPAREX Software Portfolio Management supports your personal and professional development at your own speed.

Step by step, you make new discoveries in how you can further optimize license purchasing, allowing you to implement your ideas and wishes bit by bit.

What Can We Do to Tackle Your IT Challenges?

With a 30 day trial, get to know our managed service consisting of the COMPAREX Portfolio Management Platform and Software Portfolio Management consulting.

Click here to sign up for a trial or get in contact with our experts by filling out the form below.

Home » How to Save the Company » Survival of the Fittest: » Reduce Costs with COMPAREX Software Portfolio Management
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