Webinar: Driving Software Cost Savings with Product Categorization
On Wednesday 6th March 2019, License Dashboard hosted a webinar showcasing the business benefits of License Dashboard’s software product categorization service.
What is the big deal about product categorization?
Unfortunately, for many organizations, hardware and software data is inconsistent and incomplete – if it’s available at all. This, of course, impacts the ability to make informed business decisions, increases the risk of overspending on software products and licenses, and can actually create security vulnerabilities.
These days, data is one of businesses’ most valuable commodities and harnessing it has all sorts of benefits, including being able to accurately plan purchases. IT therefore has the potential to make cost savings by understanding application categories and classifying products, which will form the basis of internal software license programs.
When defining software, and placing it into categories, there are many cases where interpretation can be applied, but serving that data in a universal way makes it usable across other IT systems:
License Dashboard uses the United Nations Standard Products and Services Code to categorize software because of the depth of granular categorization available. Each category can be broken down into highly descriptive, highly specific sub-categories, each with their own numerical code for ease of reference and cataloging. This level of detail is essential in querying the data efficiently, and accurately.
The business benefits of understanding the categories of software deployed
Software rationalization means mature businesses can standardize and reduce the number of software titles in a category making savings not just on the cost of support, but also when negotiating new contracts. For those organizations that grow through merger and acquisition, the automatic classification of software deployments can save days of resource, and is a key in monitoring the IT migration progress involved.
The details for the amount spent on software, and the level of compliance of that software are further enhanced by product categorization. It categorizes any under- or un-used free of charge of surplus software licenses already held within the organization, offering True-Up saving opportunities.
When the procurement process begins, a list of alternative software solutions currently held by the organization can be offered after a request for software is made, avoiding unnecessary spend altogether. It could be that a lower cost alternative will satisfy the end-user’s original request, but with product categorization they have the choice.
How License Dashboard can apply categories to your data
Whether using License Dashboard’s Discovery tool or not, data is extracted to then match the file descriptions with a normalized alias in License Dashboard’s dictionary. This phase also applies historical intelligence held on that file description, and a clean, user-friendly title. That data is then personalized to fit into your organization’s context, offering the how, the where, the why, and the when.
Watch the demonstration here .
Available through three elements of License Dashoard’s platform, including License Manager, there’s no extra charge for existing customers to use the software product categorization feature, and is available for all future customers at no add-on cost.