3 Core Components of Successful Software Lifecycle Management

3 Core Components of Successful

Software Lifecycle Management

3 Core Components of Successful Software Lifecycle Management

Software Lifecycle Management (SLM) ensures that your organization is being mindful of what software you own, how often and who is using it, and how much is being spent on it. In order to build out a SLM strategy that can be maintained for years to come, you should be looking for managed services that can help your organization ensure compliance and optimal ROI.

Successful SLM always involves three core components; data management, optimization management, and lifecycle management. When stacked, these components can provide the guidance and strength that an organization needs in order to maintain consistent SLM. Let’s take a closer look at each one of these core components, how they play a role at each step of the lifecycle, and where managed services can help.

Data Management

SLM calls for an organization to collect accurate data at all times. Entitlement, Inventory, and Consumption (better known as EIC) data is what gives way to strong SLM. Let’s begin with a quick refresher on what EIC is. Entitlement is visibility into what you have, inventory is visibility into what is installed, and consumption is visibility into what is used on a regular basis.

The reason EIC data is so important is that it will uphold the core of your SLM strategy. You must have management over each component of EIC in order to optimize. If you do not know of all the software you own, where it is installed, and who is using what, you could run into a number of issues.

For starters, when you don’t have complete visibility, you may be spending money on licenses that might not even be in use. After all, SLM is all about using and renewing only what your organization needs. If you don’t know the core data, you’re not off to the right start.

Additionally, your organization could be at compliance risk. While it is never ideal for an organization to spend more time and resources than need be, it is even less ideal to be non-compliant. Make sure that you know what is happening at each stage to ensure that you’re staying compliant. In order to closely monitor your organization’s EIC data, consider a platform for software and cloud portfolio management like PyraCloud. While it will be of most use in regard to entitlement – as it gives you a clear view into what you own – PyraCloud can be integrated with a Software Asset Management tool to round out your visibility. 

Optimization Management

Again, the idea of SLM is to only use what you have purchased and to only renew what is required. This can also be referred to as “right-sizing” your current investment. You may not think that your spending has gotten out of hand, but more often than not organizations are shelling out a lot more than they really need to on software solutions.

So, how do you right-size your recurring investments? Using a solution such as SoftwareONE’s Software Lifecycle Portal should give you a leg up. With a managed service, your organization will have a complete overview of your purchase history. This means that license proofs, invoices, and more will always be at your fingertips. Having this type of transparency into what you’re spending, both now and in the past, is a great way to reevaluate what your organization truly needs to run efficiently.

Optimization management goes hand in hand with data management. When you have complete visibility into your organization’s EIC, you’re able to optimize your software and cloud portfolio HTMLs for maximum success. This directly plays into the capability of your Lifecycle Management.

Lifecycle Management

The final core component of successful software lifecycle management is the management of its governance and compliance. Staying in compliance will always remain a top concern for organizations, and it is the most important part of maintaining a software lifecycle. However, organizations also have to consider both request and demand management as well as reharvesting.

As IT and other business requests flow in, it is important to take the time to deal with each appropriately. If anything flies under the radar, you could once again be overspending and putting your organization at risk. In order to achieve optimal ROI, measure incoming requests and demands on the same scale of using only what is needed. 

Now, this is not to say that you should reject every request that comes in. A good remedy to this situation is reharvesting. Reharvesting is taking deployed software and either reclaiming it for reassignment to other users or removing it completely. Basically, there could be software right under your nose that could be reharvested for users rather than purchasing something new altogether. Not only does reharvesting help you cut back on overspending and optimize your costs, it helps to get rid of unused software that could be putting you at risk. 

The Bottom Line

Having a solid understanding of these three components can help you build a successful SLM strategy. Software Lifecycle Managed Services give you visibility into your EIC data, cut back on overspending, and identify opportunities to re-harvest. Once your organization takes advantage of all it has to offer, you will be well on your way to successful Software Lifecycle Management.

Looking for More?

For more information on how to get started with Software Lifecycle Management Managed Services, speak with a team member directly and contact us today.

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