Organizations are spending more than ever on software and IT to support their businesses. Software Asset Management is one of the most challenging aspects of IT and is projected to take up nearly 20% of enterprise IT budget. As enterprises adopt more software and services, they run the risk of overspending their budget if software costs are not managed properly. However, Gartner study found that organizations can reduce software spending costs by 30% by implementing best practices in SAM; which includes identifying all possibilities to recycle software licenses instead of purchasing new ones and using a SAM platform to automate, accelerate and improve manual process. In this regard, ServiceNow’s Software Asset Management stands out as the industry leader.
The key benefits of using ServiceNow Software Asset Management
Increases software asset visibility:
ServiceNow (SAM) helps to increase visibility of software assets and improves software spend management. It tracks, evaluates and manages all the software licenses, compliance requirements, optimizes and reclaims unused software rights, purchases new licenses and allocates them effectively. ServiceNow is also a highly agile platform that can be scaled and customized to meet business needs, not only for the present but also for the future. With a strong software management system in place, enterprises can rest easy knowing that it will bring down their software spends significantly.
ServiceNow SAM architecture:
It brings together all processes and automates the entire IT asset lifecycle into a single system of record. With SAM, enterprises will get a single authoritative source of information that will help them make smarter decisions. It uses workflows to manage asset requests for approvals, validate entitlements, charge-backs and provisioning services. ServiceNow software asset management is capable of managing, controlling and protecting software assets regardless of their location; whether on-premise or cloud, it can seamlessly track them through their entire lifecycle.
Software spends detection:
The software spends detection module helps track, evaluate, analyze and regulate software to eliminate any risk. Only when you know what you own, you will be able to protect it. Get a holistic view on software spends by importing your enterprise’s financial data. The application will then automatically identify transactions, which are software purchases and help the organization track software spends over time and view all transactions of a particular product or a publisher. It streamlines the process and reduces expenditure by organizing software products based on functionality.
Software asset management dashboards can quickly and accurately create reports on the software usage of any organization. By leveraging publisher packs, enterprises can view and track complex publisher specific licensing and consumption with dedicated dashboards.
ServiceNow (SAM) gives clear, real-time insights to mitigate potential compliance issues. With License optimization techniques, enterprises can easily view their compliance status of licenses. If any licenses are found to be non-compliant, License Workbench offers remediation suggestions, which can be followed to maintain compliance status. With efficient software reconciliation, enterprises can improve the accuracy of software entitlements. Automated license reconciliation keeps license positions up-to-date without manual calculations. With SAM you will always be audit-ready.
ServiceNow’s software asset management is a robust tool that can help enterprises reduce software complexities, improve compliance, cut costs and simplify process for operational efficiency. Overall, it will help to optimize software assets to realize a higher ROI.
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