No ITAM processes or ITAM tooling = missing out on cost savings!

Lowering IT spend has been a staple on the CIO’s to-do list for years, and the current crisis has lead IT cost savings to rise even higher to the top of that list.

TIP #41 - May 2020: 5 important topics when making the business case for implementing ITAM tools and processes (and realise cost savings at the same time)

Stepping up your IT asset management game may be your ticket to ticking off this particular box.

Gartner calculated organisations can save up to a third of their annual IT budgets by implementing ITAM. CIO’s and asset managers should turn to solid ITAM processes and tooling that allow them to free up financial resources and mitigate risks as well as reducing audit concerns. We all know enterprise licenses don’t come cheap and thus better ITAM processes and toolsets can potentially save millions of euros. Under-utilisation and over-utilisation alone can eat up as much as 25% of your current IT budget.

Sounds like a good plan? But there is a problem though. Implementing ITAM tools and processes entail their own cost. So how to persuade your CIO to invest in ITAM?

Consider the next 5 important topics when making the business case for implementing ITAM tools and processes:

1. Save time and costs by centralising assets

ITAM or SAM tools will ideally store all asset information in one place, helping you manage your IT assets at any given moment and automating some of the time-consuming tasks related to IT asset management. The improved accessibility enables you to standardise operational processes and retrieve crucial management data much faster. A solid ITAM platform will support your ITAM strategy and will eliminate wasted time between tasks.

2. Increase operational efficiency

An ITAM tool helps you optimise your enterprise infrastructure and maximise operations through real-time data capture. This enables on-demand first insights into the current usage of software licenses, and facilitates timely decisions on mitigating actions for topics such as risks, future asset needs and relevance of renewals.

3. Avoid penalties and fees

It has been proven that properly implemented ITAM processes and tooling will provide more control and save you from fines due to non-compliance and unlicensed software. By pinpointing ownership of noncompliant software, an ITAM tool offers the most accurate information that allows organisations to stay compliant and minimise risks.

4. Insight into IT cost structure

ITAM processes and tooling ensure an organisation of comprehensive visibility and clear insights about the number of licenses granted and costs across business units or operating companies. Data retrieved from an ITAM tool allow organisations to fine-tune management processes based on an analysis of the information. Organisations will have an accurate view on who is consuming a license and who is not, allowing asset procurement decisions to be based on actual up-to-date information instead of self-declarations and guesses. This will help managing licensing costs more effectively and in a pro-active manner.

5. No support costs for unused software

By having centralised license compliance information available at any given moment, you will establish license visibility across different user types and access requirements. Solid ITAM processes and the correct use of ITAM tooling ensure that organisations are prepared and will be able to identify unused software in time. Unnecessary support costs can be avoided and a tighter grip on software costs is being established.