As the world’s leading provider of independent credit ratings, the client has helped governments, companies and individuals across the globe make better financial decisions for over 150 years. They provide transparency and education by analysing investment data from sources such as annual reports, news articles, and management interviews. It uses these findings to generate credit ratings for credit issuers, intermediaries, and investors in 28 countries.
The client didn’t have any asset management tool to manage and track their software assets and licenses, resulting in several inefficiencies, financial losses and the risk of non-compliance. Each department and business unit tracked its software assets manually using spreadsheets. As a result, the company’s software inventory was incomplete, inaccurate, and out of date. This made it incredibly hard to challenge vendor audits, exposing the client to compliance risk with substantial fines for non-compliance. The client already used ServiceNow for ITSM, and turned to Advance to leverage the platform for Software Asset Management (SAM).