IT Contract Management

IT contracts come in many forms.  There are software licenses, hardware leases, subscriptions to online services such as salesforce.com or SAManage, maintenance and service agreements, and warranties – just to name a few. Each of these IT contracts includes different terms and conditions, and may be acquired through various different sources (directly from a vendor, through a reseller, via an OEM partner, etc.).  This makes accurate tracking and maintenance a complex challenge for any organization.

As many organizations manually manage the very technology assets that are directly related to those contracts, the ability to correlate agreements to their hardware and software inventory in order to ensure adherence to all contract guidelines is nearly impossible.  For example, companies that haven’t automated their IT asset management processes often lose track of systems when they are reallocated or reassigned.  This, in turn, can hinder software license compliance and put them at significant risk.

Challenge addressed by IT Contract Management

1. Organize all software licenses and IT contracts, keep track of terms and conditions
2. Alignment of IT contracts and software licenses with the assets relating to them
3. Knowing when your contracts are up for renewal and maximizing your renewal process
4. Keep track of the vendors you do business with and what you purchase from them

 

IT Contract Management benefits

IT Asset Management can help reduce the cost of administrating your hardware inventory, improve security and ensure you are always ready for your next IT audit.

1. Reduce IT costs by better managing and administrating your financial assets.
2. Reduce wasteful IT expenditures by knowing exactly what is needed, and purchase solutions/licenses in accordance with specific business requirements
3. Minimize the risks associated with poor software license management, and avoid the fines imposed for illegal software use by identifying and correcting compliance gaps
4. Improve vendor relationships by more efficiently managing contract renewals
5. Enhance IT budget management by better tracking upcoming contract expiration dates, giving them more time to shop around for better or more economical solutions