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Why Use Portfolio Management Platform?

Recent studies show that the costs of software procurement and maintenance are already a considerable part of today’s IT budgets. Digital transformation will further increase the software requirements, and thus, the software diversity. This makes the software landscape increasingly difficult to oversee or to even actively manage.

The missing overview and insufficient information on individual software products leads to inefficiencies and security risks, which negatively impact a company’s success. This can occur in several ways:

Software With the Same Functionality from Different Vendors

Software is often purchased without checking if similar products exist in the current portfolio. Any redundant software creates additional operational costs for the procurement process, IT administration, patch management, license management, and support. Furthermore, you cannot benefit from vendor discounts because of the small number of software licenses purchased from many different vendors.

Unused Software

Oftentimes, when employees change roles or departments, their installed or subscribed software is not adjusted to match new needs and often only grows in size. Unused software that goes undetected causes unnecessary administrative effort and incurs additional costs for ongoing maintenance contracts, as well as unnecessary license renewals.

Unsupported Software

Software without vendor support involves two risks. The first risk is around planning. If you’re unaware of software that’s coming to end of life, you end up scrambling to find a replacement, which usually comes with costs beyond your original budget. Second, unsupported software creates security gaps for your IT system since there are no security updates available.

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Unapproved Software

If employees have the ability to install applications themselves, unwanted software products, such as games, portable apps, third party teleconferencing clients, browser plug-ins or non-commercial software can access the enterprise network. This can become a critical issue for both IT security and software compliance. On the one hand, for unknown software products, no security updates are provided. On the other hand, a manufacturer’s audit can result in high penalties, such as when non-commercial software is found on the company’s computers.

Software with Outdated Patch Levels

Software products without the latest patch level can create a security risk to the corporate network, as hackers often use this as a gateway.

Take an Active Role in Software Management

If you want to keep these costs, compliance and security risks under control and actively manage your software portfolio, you need to achieve complete transparency of your software stock and usage as early as possible.

The data to evaluate the optimization potential is already available at your company and different tools might be in use to display the installed software. But there’s often a lack of know-how and resources to comprehensively analyze and process the data.

COMPAREX Portfolio Management Platform provides an up-to-date overview with comprehensive, detailed information on the technical inventory in your company, including countless functions, for a 360° analysis.

We start by inventorying your entire software portfolio by qualifying the data, scanning for new programs and any company intellectual property, and automatically combining them in an ever-growing software catalog with 14,000 vendors and over 900,000 releases. Once complete, all of the information is presented in an easy-to-read dashboard, ready to be analyzed.

Obtain Transparency

The better overview you have of the current software environment, and the more details you have available for every software product, the better you’ll able to make informed decisions and take successful measures.

With COMPAREX Portfolio Management Platform, you obtain all relevant data of the installed software. For each software product, you get specific information, such as vendor, version, edition, language, license type, belonging to a software suite, functionalities and installed patch level. This allows you to evaluate redundant products by comparing and analyzing them by means of 17 categories and 480 functions at the push of a button. Based on this information, you are able to meaningfully consolidate software products and vendors.

Reduce Costs

Through software consolidation, you can reduce your spending significantly. Assuming you have 14 security programs in use from different vendors, which pretty much have the same functions, you can reduce the number by a cross-vendor comparison. This results in higher discounts through larger purchasing volumes as the number of required software licenses is distributed among fewer manufacturers
In addition to better pricing, COMPAREX Portfolio Management Platform offers:

  • Lower operational costs for the procurement process, as you have to negotiate with fewer manufacturers
  • Lower operational costs for IT administration, license management, and support as fewer software products need to be managed
  • Avoid unnecessary costs for new licenses by recycling or sorting unused software
  • Higher employee productivity, as non-business software, like games, can be detected and removed from the network

Increase IT Security

Software consolidation also helps you to reduce security risks, since the reduction in software decreases the probability of unknown security gaps. COMPAREX Portfolio Management Platform provides information for every installed software product, which helps to detect security gaps at an early stage:

  • Comparing the installed patch level with the currently available patch enables you to identify necessary updates at a glance.
  • Evaluating non-business software and removing it at an early stage dramatically reduces the risk of external hackers.
  • Analyzing which products are currently (or soon to be) end of life allows you to be proactive in upgrading, which decreases security gaps and offers better budget control.

Improve Compliance

An easy identification of installed software products that are not allowed for commercial use helps you to quickly remove these installs and thus reduce compliance risks.

Too long, didn't read

COMPAREX Portfolio Management Platform sustainably reduces costs, increases IT security and creates transparency for your
IT environment
Are you ready to save money and prevent hacker attacks? Click here to discover how COMPAREX Portfolio Management Platform can optimize your software landscape. Or fill out the form below to speak with a local expert.

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