The projected increased investments in Software License Management (SLM) solutions in 2024 reflect a growing awareness among organizations of the importance of efficiently managing their software assets. But as enterprises ramp up their SLM spending, a substantial number of organizations realize they don’t have the resources to effectively implement and manage these solutions. Managed IT
Fortune 500 Industrial Conglomerate Identifies Usage Patterns and Cuts License Costs by 30%
- A Fortune 500 conglomerate realized the importance of negotiating vendor agreements based on actual usage instead of estimated usage.
- Open iT’s capability to monitor and track software usage in different locations and across multiple platforms enabled them to identify user trends throughout their organization.
- They were able to right-size their licenses and reduce costs by 30%.
A large industrial conglomerate involved with, among other things, energy and light metals, wanted to assess how its computer resources were being used, in order to better manage its IT expenditures. With a complex IT infrastructure distributed in multiple sites around the globe, getting a system-wide overview of its resource usage patterns and needs seemed a formidable task. Read further to see how they reduced license costs by 30%.
Management was aware that accurate and comprehensive knowledge of IT and usage patterns could potentially yield enormous savings for software licenses alone. One problem area of increasing costs was in database software. Worldwide, the company had around 30 different license agreements with their database suppliers. These agreements were based upon estimated usage, while actual user statistics remained unknown.
Cost Allocation and IT Chargeback
The most efficient way to create more accountability and awareness of how IT resources are used is to implement a chargeback system.
Software Usage Monitoring and Optimization
Learn how usage monitoring in an E&P IT environment can be beneficial for many stakeholders.
Rising Use of Subscription and Pay-per-Use Software Licensing Models
Have a meaningful software usage metrics and tools to evaluate and plan appropriately prior to making new licensing decisions.
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Forrester has named Open iT among notable vendors in Software Asset Management (SAM), according to its recent report, The Software Asset Management Solutions Landscape, Q3 2023. We believe this recognition stands as a significant milestone for Open iT and underscores the growing importance of SAM solutions in today’s organizational landscape. The increasing adoption of SAM
Most of our customers are in industries that make extensive use of engineering and specialty software, where the management of software licenses and entitlements cannot be left to chance and need to be closely monitored. As a result, most of their software asset management (SAM) policies, processes, and support are well managed and mature. This