IT ASSET MANAGEMENT (ITAM) SOFTWARE MARKET ANALYSIS

Market Concentration and Competitive Landscape

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Focus on IT asset optimization and cost control

In the current economic scenario, organizations across industries are looking at ways to further maximize returns from their existing IT investments. With almost all businesses now heavily relying on digital infrastructure, even a small percentage of waste in IT spending translates into substantial losses. At the same time, IT budgets are also under renewed pressure and scrutiny. There is growing emphasis on justifying every dollar spent on technology. This has motivated organizations to closely monitor their hardware, software and cloud assets to identify optimization opportunities. IT leaders want to ensure every existing and new asset is fully utilized, costs are controlled with prudence and waste is eliminated.

Comprehensive ITAM solutions can play a big role in achieving these optimization and cost control objectives. Advanced capabilities like predictive analysis of asset usage patterns, centralized software license management and granular budget tracking allow optimal deployment of existing hardware and licenses. ITAM solutions also help evaluate alternative procurement options by comparing total cost of ownership of assets. Their contract management modules help renegotiate unfavourable agreements.