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 As a result, the company’s software inventory was incomplete, inaccurate, and out of date.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).
Advance worked closely with key stakeholders and business units to understand their various use cases, processes and business needs, as well as their current software procurement process and software entitlements.
Based on this research, we defined a global software procurement process for standard and non-standard software. ServiceNow automatically discovers and tracks 90-95% of software assets and generates the compliance report based on the entitlement data collected. Our solution enables all business units to follow the same standard procurement process. This makes software asset inventory accurate through partially automated workflows.
The implementation of Client Software Distribution allows configuration for automatic revocation of unused software based on defined thresholds. In addition, we developed complex custom metrics that support ongoing efficiency improvements. The ServiceNow solution provides end-to-end software lifecycle management on a single platform, providing greater business insight and improved audit readiness.
With the end-to-end ServiceNow SAM solution that automates many tasks, the client has a convenient, single system of record for software asset management. ServiceNow’s discovery and reclamation capabilities provide better visibility enabling optimization of license utilization. Automated uninstallation to reclaim unused and underutilized software licenses resulted in massive savings for the firm, amounting to millions of dollars. Custom dashboards provide reports that higher management can use to optimize license optimization across various business units.
The client has on-demand access to information needed for a vendor audit, instead of a 2-3 week wait. This visibility helps mitigate audit risk and leadership knows software assets are under control. There was a marked increase in software compliance – 90% compared to 40% when previously tracking in spreadsheets. The scalable, upgradable, and easily maintainable solution helps the client identify double counted licenses – finding 6000 such instances led to massive savings.
Consolidated software asset information enables better vendor conversations from pushing back on audits to negotiating volume pricing, resulting in 35% of license true-up costs.