In today's dynamic business environment, optimizing software and cloud expenses is more crucial than ever. Gartner delves deep into the strategies and best practices that can help organizations effectively manage their software assets and cloud expenditures in an insightful report. By uniting Software Asset Management (SAM) and Financial Operations (FinOps), businesses can gain unprecedented control over their IT spending and drive remarkable cost savings.
Three reasons why to read the report:
1. Optimizing Software Costs: The report focuses on targeting software and cloud costs, which are often significant expenditures for businesses. Implementing the recommendations from the report can help organizations optimize their spending in these areas.
2. Holistic Approach: The report emphasizes uniting SAM and FinOps. By bringing together these two disciplines, businesses can gain a comprehensive and synergistic understanding of their software spending.
3. Recommendations for Executive Leaders: The report provides practical and tangible strategic recommendations for effective and targeted cost management by SAM and FinOps.
The key messages of the report:
1. SAM and FinOps Are Critical Mechanisms to Mitigate Cost Increases
SAM and FinOps integration can reveal cost reduction opportunities that might have been overlooked in traditional approaches.
2. Eliminate unnecessary cost overruns, such as expensive but unused SaaS, and CIPS waste with Finops
Through detailed analysis identify wasteful software licenses or redundant applications, leading to cost savings.
3. Leverage synergies across the portfolio by eliminating blind spots and operational silos
Separately, SAM and FinOps are not as effective for dealing with the full range of modern software and cloud challenges, but when used together, they improve the availability of reliable data and make lifecycle management more efficient.
4. Cost reduction by trustworthy and transparent cloud services consumption
Active data from devices and management platforms enable savings through economies of scale.
5. Skilled SAM and FinOps professionals are needed to succeed
Successful cloud and cost management can only be achieved through effective planning, management and control, i.e. professionals with the right expertise to design, analyse, interpret, develop and monitor actions.
Remember, as with any research report, it's essential to evaluate the findings in the context of your specific organization's needs and goals. Each business is unique, and the applicability of the insights may vary. Contact Noventiq for the report and ask for SAM assessment from one our specialized SAM expert.
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