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Software Asset Management (SAM) solutions have promised software compliance and lower risk in case of an audit. But knowing your software inventory can do so much more for your business. However choosing a software portfolio analysis can be quite challenging. We shed some light on the 3 things to do before you decide on a portfolio management solution and explain what you can expect from a good Portfolio Management Platform.
According to IT analyst Gartner, companies can reduce their current software budget by up to 30% by analyzing, optimizing and right-sizing their current portfolio of software applications. A transparent and well-managed software environment can also reduce your security risk profile dramatically. But all software portfolio analyses solutions are not the same. In fact, the current solutions on the market remarkably differ from each other regarding scope of functionalities, data quality and additional services.
Prevent unnecessary software diversity and identify security gaps immediately.
The main goals of introducing software portfolio analyses in your company are to lower costs and reduce security risks. But how can you accomplish this?
In order to do this effectively, you need as much information about your software as possible. Only with detailed information – such as the functionalities of the software products that you use and that are available on the market – are you able to compare and select which products you want to continue to use. Not every solution for software portfolio analyses provides this valuable information with this level of detail.
Some software asset management solutions provide possibilities for software portfolio analyses. These packages often involve time-consuming and complex implementations, as well as large investments. You might not even need all of the included features at the moment. Instead, a modular solution is able to fit your current business needs, makes your initial investment smaller and gives you immediate value.
Before you decide on a portfolio management solution, you should be certain that it provides the right benefits for your company. To make sure you choose the right solution, you should request an individual and non-binding proof of value so you can assess whether the information, functionalities and reports meet your requirements and generate the promised potential for optimization.
What you can expect from a good Portfolio Management Platform just like the one SoftwareONE offers:
Do you want to know more about our Portfolio Management Platform solutions? Contact our SAM specialists if you have any other questions.
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Leave a commentFranz Schildberger
Product Manager IT Finance
ITFM (IT Financial Management) including Software Asset Management