Software asset management enables a company to achieve numerous efficiency benefits. It involves meeting benchmarked licensing and compliance milestones. This effectively creates a system where you only pay for what you use and use just what you have paid for.

It is easy to calculate how this translates into an actual financial benefit by calculating the return on investment through the licensing platform. Data-based evidence will illustrate the position of the investment and help you deal with any assumptions you may have about it.

Benefits of software asset management

You stand to benefit from a reduced cost of operating the IT infrastructure, improved service delivery and reduced levels of risk and exposure. The solutions streamline software management, reduce administrative overheads and enhance end-user satisfaction. Additionally, the investment helps you reduce the cost of operating a sophisticated infrastructure.

To ensure the protection of your assets as well as the licensing system, take the time to measure the return on investment from the asset management platform. Let us examine some of the benefits of implementing a proper management platform.

1. Increased efficiency and cost savings

It helps you determine your inventory and usage requirements. Discovery enables you to get an accurate inventory of the software assets under your control. It also tells you where they are, the configuration as well as who uses what modules of the asset. Consequently, you can optimize the software assets to maximize returns. Similarly, it is an excellent starting point to grow your infrastructure to meet evolving business requirements.

A vigorous management platform gives you insights into the performance of your business. You can measure the responsiveness and adjust to grow your business quickly. It’s an excellent opportunity to align your infrastructure with the business goals.

2. Budgeting and improved licensing

Infrastructure managers can project the cost of acquiring new software assets. This enables planning of acquisitions. In like manner, you can focus the assets you have as well as new purchases into the core business strategy without getting lost in the technology. It ensures compliance with state and corporate guidelines and enables you to control your licensing events seamlessly.

3. Education and empowerment

Learn about what you have and how it works to enhances your capability to deliver better on the core services. Such education will helps decide your investment in software assets and management platforms. This also opens up the possibility of better bargains on new procurements as you are aware of the assets available versus the requirements. Similarly, it empowers you with the flexibility you need to stay on top of the game.

Assumptions to avoid

Asset management engages you to shift from making decisions based on assumptions and utilize facts and evidence-based reports. There a few assumptions you should disregard about asset management platforms. It is not the responsibility of the procurement department. Purchasing departments are in charge of the acquisition history and not lifecycle management.

Additionally, most organizations assume they know the proper usage and rights granted by the software assets. It is essential to understand your applicable rights and terms of use.

Conclusion

It helps to be fully in charge of your software assets. A robust management strategy offers tremendous business value. It enables you to reap multiple benefits related to efficiency and cost reduction. Explore new and innovative ways of executing your key mission statements by leveraging on a dedicated asset management platform.