With IT increasingly becoming a huge part of the enterprise budget, CFOs must understand the value of technology and how it supports business initiatives. In addition to overseeing the company’s financial operations, the ultimate goal of the CFO is to reduce overall costs and achieve greater ROI. Thus, analyzing the business impact of IT usage is crucial in making prudent financial decisions.
One of the challenges faced by CFOs is that IT investments are often considered immeasurable and their business value is difficult to prove. CFOs have the expertise to determine which financial metrics are critical for cutting down unnecessary expenditures, but they often lack the right tools that provide metrics against which to judge IT success. Without these metrics, the company also becomes at risk of overspending on IT investments, such as new software license purchases and upgrades that are merely based on estimation.
Open iT provides CFOs solutions for determining the baseline and benchmarking current performance. It offers metrics showing the impact of software usage on business productivity. It is a powerful software asset management tool that allows finance leaders to get a complete overview of global software usage across any site, location, business unit, country or time zone. Open iT provides dashboards, and graphical and tabular reports that are easy to understand, enabling the CFO to quickly identify the actual software usage, which is essential for budgeting purposes, resource allocation, as well as vendor negotiations.
With Open iT, it is easier for CFOs to work collaboratively with CIOs to deliver savings and maximize ROI from IT investments.
- Easily measures and demonstrates ROI of IT investments.
- Reduces IT spending by delaying new software investments until the need is documented.
- Improves IT budgeting and resource allocation by obtaining actual license usage.
- Ensures compliance and protects against financial risks from costly software vendor audits.
- Simulates various software license agreements to determine best agreement type that will deliver savings.
- Helps in the preparation for vendor negotiations with accurate and detailed software usage statistics.
- Enables IT chargeback accounting and assigns the cost of software usage to user groups, projects, business units or even global sites.
- Allows for pay-per-use agreements.
- Ensures a more proactive budget planning.
Related Products and Solutions
Enable IT Chargeback
Gain accountability and compliance.
Negotiate Pay-Per-Use Software Licensing
Pay only for software licenses being used.
Manage Software Licenses
Get enterprise-wide accurate license usage reports.
Track Active and Inactive Software Usage
Meter even applications without licenses managers.