The Strategic Importance of Software Asset Management

This episode of The ITAM Executive podcast is an excerpt from a webinar hosted by Anglepoint and Converge. View the complete webinar here: https://www.anglepoint.com/blog/software-asset-management-strategic-benefits/As noted by Gartner, SAM is a discipline that supports strategic business development. Here are the 4 main strategic benefits of SAM:Reduce RiskData collected from SAM allows organizations to identify IT security risks, finding faulty and/or unsupported software. You’ll know which/how many software assets need patches/security updates.SAM reduces compliance exposure. When auditors come knocking, they’ll find that you are paying for what’s being used; eliminating the need for potential hefty, business-changing fines.The reduced risk from practicing good SAM will save your organization from any and all potential legal, financial, and reputational damages/liabilities.Reduce SpendThis is a major benefit! Many of our clients see actionable savings of 20% or more in year one.Good SAM monitors usage on an ongoing basis, allowing you to identify re-harvesting/re-use opportunities. It’s (obviously) important that you don’t spend more money that needed.Ongoing usage monitoring also empowers organizations to purchase software assets based on their true usage and future needs. - Additionally, SAM helps limit rogue purchases and potential chargebacks.Maximize InvestmentsThrough configuration management & standardization and change control & business continuity, organizations get the most out of what they have.Take advantage of IT optimization opportunities, i.e., virtualization, server consolidation, etc.Having the right people and processes in place allows you to realize the full benefits of your SAM tool(s). Many organizations fail to take full advantage of this.Negotiate StrategicallyIf you know exactly what you have and exactly what you need, you can negotiate from a position of power. This gives you confidence and makes life much easier.SAM data allows for dialed-in and precise decision making.Having a SAM managed service provider in your corner gives you the publisher-specific expertise needed to negotiate. This detailed publisher knowledge allows for focus on key contract asks and advantageous terms.