Software is the lifeblood of modern organizations, driving innovation and productivity. However, managing a complex software portfolio can be a significant challenge. Here's where ServiceNow Software Asset Management (SAM) steps in, offering a powerful solution to optimize your software investments and navigate the ever-changing landscape of IT asset management.
This blog post delves into the future of ServiceNow SAM, exploring anticipated trends, the impact on organizations, and best practices for implementation. By leveraging automation, cloud integration, and advanced analytics, ServiceNow SAM empowers organizations to unlock a new era of efficiency, compliance, and cost optimization.
Current Landscape of ServiceNow SAM
The digital transformation race pushes enterprises to reduce costs, embrace automation, and adapt to evolving needs. This intensifies the need for effective software asset management (SAM) to ensure software investments align with business goals. However, managing licenses remains a challenge. Audits loom, potentially disrupting innovation, while complex entitlement tracking leads to overspending and underutilized resources.
However, it extends beyond mere financial risks; inefficiencies arising from an excess of tools, data inaccuracies, and communication gaps are prevalent. This causes the teams to need more manual processes and adequate tools.
In this context, ServiceNow's Software Asset Management offers a solution to tackle these obstacles through a consolidated IT platform. It provides immediate visibility into unauthorized deployments, options for reclaiming assets, and actionable software status, enabling better cost management and informed decision-making. Apart from financial benefits, proficient asset management also reduces risks, ranging from exceeding budgets to potential security vulnerabilities.
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Anticipated Trends in ServiceNow SAM for 2024
1. Integration of AI and ML
ServiceNow SAM platforms integrate Artificial Intelligence to forecast license usage patterns, optimize software distribution, and detect potential compliance risks. Through machine learning algorithms, usage patterns are analyzed, enabling organizations to make data-informed decisions and ensure efficient resource allocation.
2. Low-Code Development and Focus on Automation
ServiceNow’s low-code platform enables organizations to develop customized applications and workflows with minimal coding requirements. In SAM, this results in quicker implementation of asset management solutions. Automation will streamline processes such as software discovery, license reconciliation, and compliance audits, enhancing efficiency across the board.
3. Cybersecurity Integration with SAM
With the continuous evolution of cyber threats, SAM emerges as a crucial element of an organization’s security framework. SAM tools will increasingly integrate security functionalities like vulnerability assessments, patch management, and risk analysis. Organizations will prioritize securing their software assets alongside compliance efforts.
4. Rise of Cloud-Centric SAM Solutions
Cloud-centric SAM solutions are gaining traction, offering improved flexibility, scalability, and real-time visibility into software assets. This trend supports remote work and aligns with the broader digital transformation movement by embracing the agility and efficiency provided by cloud technologies.
Also, read ServiceNow SAM: Navigating its Implementation Pitfalls
Impact on Organizations
The evolution of ServiceNow SAM will have a profound impact on organizations across various dimensions:
1. Cost Optimization
By leveraging advanced analytics and automation capabilities, organizations can expect cost reductions of up to 30% in their software spend. ServiceNow SAM helps identify license consolidation opportunities, renegotiate with vendors based on accurate usage data, and eliminate unused or underutilized software licenses.
2. Compliance Assurance
ServiceNow SAM empowers organizations to maintain compliance with software licensing agreements, significantly reducing the risk of audits, penalties, and legal liabilities. With automated license tracking and real-time usage insights, organizations can stay ahead of potential compliance issues, ensuring peace of mind and avoiding hefty fines.
3. Enhanced Governance
Centralized SAM platforms provide a single source of truth for all software assets, improving governance and control. This translates to several real-world benefits:
- Improved Security: A complete picture of all software assets and their usage allows organizations to quickly identify and patch vulnerabilities, reducing the attack surface and strengthening overall cybersecurity posture.
- Streamlined IT Operations: Centralized management of software licenses simplifies IT workflows, minimizes manual processes, and frees up IT resources to focus on strategic initiatives.
- Informed Decision-Making: Data-driven insights from ServiceNow SAM empower organizations to make informed decisions about software investments, ensuring alignment with business goals and optimizing resource allocation.
Case Studies and Examples
Company name: Athene
Size: - 5000+ | Industry: - Financial Services | Location: - United States
A prominent insurance and financial services corporation with over $16 billion market capitalization, it operates across the United States, Bermuda, Canada, and Japan. Despite its extensive reach, the company needed more maturity in its software asset management processes. Underutilized software must be tracked, leading to inaccuracies in compliance calculations, particularly for high-cost software.
In partnership with inMorphis, this financial firm successfully validated and cataloged a robust network of IT assets with 50+ Software Models created for 20+ high-valued software(s). These financial services companies finally take control of software assets with 95% normalization accuracy and patterns.
Company: JDA Software
Size: - 5000+ | Industry: - Computer Software | Location: - United States
A leading Supply Chain Software provider based in the USA, serving 4000 clients worldwide, initially faced challenges with incomplete, inaccurate, and outdated software inventory. Software licenses, provisioning, allocations, and retirements were being tracked manually.
Through collaboration with inMorphis, the company successfully verified the normalization of over 95,000 software discovery models with leading publishers such as HP, Oracle, IBM, Adobe, and Microsoft. inMorphis team facilitated real-time analytics for license metrics, compliance analysis, and publisher insights. Additionally, inMorphis team aided in identifying 30% of potential candidates for removal from the software estate.
Best Practices for Navigating the Future of ServiceNow SAM
1. Evaluate Current Processes
Start by conducting a comprehensive assessment of your existing asset management procedures. Identify areas requiring enhancement and specify the exact prerequisites for SAM implementation. This evaluation lays the groundwork for tailoring ServiceNow software asset management to integrate seamlessly into your operational flow.
2. Establish Key Objectives
Clearly define your organization's objectives for implementing SAM. Whether prioritizing cost optimization, compliance, risk management, or operational efficiency, delineating these goals at the outset will steer the customization process and ensure alignment with your strategic directives.
3. Customize Configuration
Leverage the adaptability of the ServiceNow platform to personalize SAM configurations to suit your organization's distinct requirements. This encompasses adjusting settings pertaining to your software portfolio, licensing agreements, and reporting obligations. You can optimize the value derived from SAM by aligning these configurations with your specific context.
4. Engage SAM Project Stakeholders
Involve key stakeholders from diverse departments throughout the implementation journey. This fosters alignment of objectives and fosters buy-in from all pertinent parties. Solicit feedback from stakeholders to comprehend their needs and concerns, addressing any challenges or requisites that arise during the customization process.
5. Provide Training and Support
Invest in comprehensive training initiatives to equip SAM administrators and end-users with the knowledge and competencies to effectively utilize ServiceNow software asset management. This encompasses guidance on platform navigation, execution of essential tasks, and utilization of features to attain desired outcomes. Additionally, provide ongoing support to address any queries or challenges that may emerge post-implementation.
Conclusion
The future of software asset management is clear: it's automated, data-driven, and cloud-based. ServiceNow SAM stands at the forefront of this evolution, empowering organizations to achieve remarkable results. By leveraging its advanced capabilities, you can gain comprehensive software visibility, optimize costs, streamline vendor management, and ensure compliance.
To unlock these benefits and future-proof your organization, consider implementing Software Asset Management with inMorphis today. Take the first step toward a more efficient and secure digital future.
