Before we dive into the details, let’s start off with a few necessary definitions:
What is Software Lifecycle Management?
Software Lifecycle Management (SLM) is the process of maximizing the value of your software and cloud portfolios from requirements to retirement.
Simply put, it is matching supply and demand, using what is purchased and renewing exactly what is required.
What is Entitlement, Inventory and Consumption (EIC)?
EIC is the enabler for Software Lifecycle Management.
- Entitlement is visibility into what you own.
- Inventory is visibility into what is installed.
- Consumption is visibility into what is actively used.
According to Gartner, effective SLM
can cut software costs by up to 30 percent. Furthermore, the RightScale 2017 State of the Cloud Report reveals that measured actual waste of public cloud resources is up to 35% or more. SoftwareONE has discovered that many organizations simply budget for this overspend, but this doesn’t have to be the norm.
Governing, managing and optimizing software and cloud portfolio budget and spend is a challenge for most organizations. The key to overcoming this challenge is visibility.
In the words of Mike Gersten, Global Innovation and Strategy Officer at SoftwareONE, "You can't manage what you can't see."
The EIC model provides you with enhanced visibility into what software you own (Entitlement), what software you have installed (Inventory) and what software you are actively using (Consumption). Having visibility into this data helps you maximize the value of your software and cloud portfolios. This, in turn, is how EIC enables Software Lifecycle Management.