For many financial institutions, software asset management has become increasingly complicated. While some firms know how many licenses they have, few of them know how often those software licenses are being used. Software asset management can be tricky, but it can offer added cost savings. This week’s FIN News Alert looks at the Baseline Magazine article, “Unused Software Costs Companies Millions,” and highlights several insights on software asset management. Here are some more details:
- “Software waste” is the process of deploying software to a desktop but not utilizing it.
- The recent report, “Software Usage and Waste Report 2016,” found software waste to be very high for companies.
- The report found 38% of enterprise software has not been used in 30 or more days.
- The average cost of software waste per business is $7.4 million, with an average cost per user of $247.
- Companies with more than 100,000 users waste about 37% of their software. Other companies with about 2,000 users waste about 41% of their software.
- The two most wasted enterprise applications are Camtasia Studio and Crystal Reports.
Interested in learning more about how software asset management can help your financial institution? Read our latest case study about a cost-saving software asset management tool.