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The importance of Trustworthy Data – Part 3

Managing compliance, renewals & consumption successfully 

 

In Part 1 and Part 2 of ‘The importance and value of Trustworthy Data’, we looked at why it is necessary to create a set of accurate Trustworthy Data, and the cleansing and normalization processes of obtaining this information.

In Part 3, we will explain how to extract value from the data collected, showing how investing in Trustworthy Data is a cornerstone of ITAM success, and key to remaining compliant, successfully navigating audits and renewals, managing consumption and accurately forecasting and planning for the future

Driving value

Having cleansed and normalized your data, you have the assurance that the information is accurate – and it can be used to drive value across many aspects of ITAM. From informing decision-making to giving organization’s greater control of their software and cloud  assets, clean, accurate data can even reveal any security vulnerability risks. And there are many more benefits besides that support the key business outcome of having trustworthy data – turning risk into commercial opportunity.  

More control over ELPs and renewals

An accurate and reliable effective license position (ELP) is the cornerstone of any successful SAM and ITAM program, there is a great opportunity to use trustworthy data to show whether there are any commercial or compliance risks to a software estate – and subsequently resolve any issues. By identifying early on if there are any compliancy issues, audit liabilities, or any other risk elements, they can be resolved before any true commercial damage can be done, and will also establish a good starting position for renewals.

Indeed, trustworthy data is an essential part of preparing effectively for any upcoming renewals. With a good, reliable set of structured data collected in the run-up to a renewal, organizations will be able to see where optimization changes can be made to licenses and usage and what their exact requirements are – enabling them to confidently enter into negotiations with a definitive bill of materials and a solid understanding of what they want the renewed contract to look like.

Making the most of Cloud

Collecting data from the cloud is very different to on-premises data. Whilst on one hand, cloud can be at risk of sprawling out of control, its prevalent accessibility makes collecting information relatively easy. In addition, since cloud data is updated so regularly, it can become a complicated process to extract meaningful data and identify opportunities. But it is possible and making the most of cloud data is key to modern-day ITAM success.

Indeed, cost reduction opportunities can be identified as well as opportunities for contract transformation that will better benefit your organization. For example, by looking at the data collected during a cloud migration project, waste or mistakes that occurred during the transfer process can be identified – and subsequently, informed decisions can be made when considering contract renewals to help optimize terms and reduce costs. In addition, using data to ensure you are optimized in the cloud is a reliable way to stay on top of such a dynamic environment.

Predicting the future

Traditionally, SAM and ITAM take into account reports based on the present and past to establish where compliance and commercial risks may lie and where controlled, optimized changes and be made. But trustworthy data also provides the opportunity to take the future into account. For example, by capturing data over two years, we can predict where consumption and usage will be for the final year of a usual three-year contract term. By collating structured information, potential risks can be identified and preemptively mitigated. The information can also reveal where initial overcommitment or overspend on a product occurred, giving you the insight to negotiate a better, more flexible deal at the next contract renewal to include the possibility of these trends arising again.

When it comes to cloud, a huge amount of data is produced from such environments, growth patterns in certain areas can be tracked, as well as information about what contributes to this growth. This information can then be used to determine which products, solutions and licenses will need to be increased in the future.

A new approach

It is important to note that you can only achieve this advance state of understanding by collecting data regularly, and implementing the right processes with good coverage and quality, as explained in Part 1 and Part 2. Collecting data more frequently means forming more accurate, insightful predictions, and by combining this with contractual milestones you can extract the best benefits from your product investments. Investing in trustworthy data is a novel way of thinking about the ITAM process, using traditional SAM components but in a new and innovative way.

To find out more, download our Trustworthy Data Guide or visit our dedicated Trustworthy Data page. You can also watch our webinar Visualize your ITAM data 

 

ABOUT THE AUTHOR

Simon Leuty - Head of Pre-Sales

Simon is a founder of Livingstone Technologies. He currently sits on the Executive Leadership Team as Head of Pre-Sales. Simon is responsible for the development roadmap of our client portal LUCE.

He has over 15 years’ experience of the Software Asset Management and Cloud markets, working closely with our growing customer base to help them take control of their software and cloud cost. Simon helps to eliminate unacceptable spend and enforce tight governance standards that keep them compliant, agile and secure.

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