Top 5 Ways IT Asset Management (ITAM) Saves You Money

With IT budgets still tight, there are significant gains that can be realized from a comprehensive ITAM program.

1. Save money by cutting redundant and ineffective spending

IT departments need know the location, configuration, and usage history of every single asset to optimize their IT, and assess returns from the technology investments. With an IT Asset Management (ITAM) program you will save by eliminating assets that are costing you money, and redeploying underutilized licenses and devices. Gartner found that up to 20% of software licensing and hardware maintenance charges are incurred for assets that are no longer in use!

2. Save money with better negotiating capacity

Careful monitoring of your contract positions and renewal dates provide you with increased leverage to negotiate revisions on your terms. By tracking your assets against their governing contracts, you will be able to manage the contract end dates and conditions to negotiate favorable positions and savings before the contracts auto-renew, or trigger end of contract fines.

3. Establish and enforce ITAM policies to cut spend

Software usage policies, standard hardware configurations, asset request processes and  other processes better optimize asset utilization against your users’ needs. You’ll eliminate redundancy and extract more value from your assets.

4. Save money with greater Service Management effectiveness

With ITAM you will be able to provide detailed asset configuration integrated to your service desk to speed incident resolution. With available information your support team will have better capacity to leverage existing warranties and other information for better decision making. Devices and applications all have support costs, and eliminating the unnecessary will further cut support calls, and costs.

5. Reduce the risk and cost of vendor software audits

The frequency of vendor audits is on the rise. The cost of data collection is significant if not anticipated and properly planned, and will be far from ideal if put together under the stress of an audit. Avoid potentially massive license compliance fines, take preemptive actions, and cut the significant resource costs in order to work through a software audit with an ITAM program.

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