Successful IT asset management (ITAM) today requires multiple elements and strategies to help optimize annual software spend and cost savings, support lifecycle management, and manage risk.
CIOs are increasingly relying on advanced ITAM platforms and tools—including software asset management (SAM)—that integrate financial, inventory, contractual, and compliance functions. Here are some key statistics that help explain the importance of modern ITAM.
Why many enterprises need modern ITAM
- 43% still track IT assets in spreadsheets
- 56% don’t manage the entire lifecycle of their assets
- More than 60% of IT professionals are missing key information in their ITAM program to effectively manage their assets from procurement to disposal, according to Ivanti.
Wasted time with legacy ITAM
- 29% of IT organizations spend excess staff hours trying to reconcile inventory and assets
- 28% spend excess hours dealing with out-of-warranty and out-of-support policy assets, according to Ivanti.
Big savings for early ITAM adopters
- Businesses that successfully implement ITAM can achieve up to a 30% cost savings in the first year, and at least 5% savings in each of the subsequent five years.
Why many enterprises need modern software asset management (SAM)
- 72% of organizations lack a solid SAM strategy
- 74% have not created a formal SAM function
- 83% do not view SAM as a strategic initiative
SAM cost advantages
- Companies can expect to achieve up to 25% annual savings on software management costs by implementing a modern SAM program
Top strategic benefits of SAM
What surveyed IT leaders consider the most important potential benefits of SAM:
- Improving systems security, data integrity, and data security (36%)
- Controlling software costs (34%)
- Avoiding compliance irregularities (33%)
- Optimizing software deployment and usage (29%)
- Improving position to negotiate software licensing (27%)