Anyone who deals with multi-million-dollar negotiations with software vendors knows that preparation starts long before the license agreements are set for renewal. Without the proper information on actual business requirements, companies would leave themselves vulnerable to over-purchasing or spending on unnecessary products and services. Therefore, having the right information prior to, and using it properly
Maersk Oil Gains 2109% ROI by Proactively Managing their Software Assets
- Global O&G company needed to reduce costs of high-end software applications
- Open iT was selected for its ability to analyze usage data on a global scale
- Dashboards and detailed reports helped management negotiate vendor agreements
- Exploration & Production (E&P) software costs were reduced by nearly 40%
- Automatic harvesting of inactive licenses helped company achieve 2109% ROI
Maersk Oil is an international oil and gas company with a 2016 entitlement production of 313,000 barrels of oil equivalent per day, with production from Denmark, the UK, Norway, Kazakhstan, the U.S. Gulf of Mexico and Algeria. Exploration and development activities are on-going in Angola, Kenya, Brazil, Kurdistan Region of Iraq and in the producing countries.
The rapid decline of oil and gas prices prompted Maersk Oil to manage and control costs in a more efficient manner. Like many technologically advanced companies, Maersk relies on high-value software applications to gain a competitive advantage. These applications are often underutilized due to lack of detailed information about how, when and by whom they are used. Several years prior, Maersk Oil implemented a software license management tool, but it focused on license administration with limited capabilities for analyzing licensing optimization and usage.
Maersk Oil established an internal initiative, Software License Optimization and Entitlement (SLOE), to increase visibility levels for the management and administration of software licenses across the company. The SLOE’s mission would extend far beyond the current downturn in oil prices to help the company achieve higher levels of operational productivity.
Simplification Specialist Claus Moller was assigned to lead the initiative by looking at business processes in detail to identify tasks, workflow and other areas where applications could be used more efficiently. Moller’s background as a Global Subsurface Portfolio Manager and E&P Simulation Specialist provided core knowledge about the applications in use and experience working with vendors. E&P application vendors, were also making changes to their licensing models. It was an optimum time to analyze and review usage patterns for negotiation purposes.
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Cadence® Design Systems is a leader in electronic design with more than 30 years of expertise in the computational software industry. Providing service to the most innovative companies in the world, Cadence applies its proprietary Intelligent System Design to bring forth hardware, software, and IP to realize design concepts. Among its most important products are
Except for a few products, Autodesk has offered trade-ins (1 standalone license to 1 named user; 1 network license to 1 multi-user license or 2 named-user licenses) before the maintenance plans are permanently retired. A multi-user license can also be traded in for 2 named-user licenses at the next renewal before August 7, 2023. Not