Software renewals and audits

Software license audits aren’t just an inconvenience—they’re incredibly expensive. In fact, according to Flexera’s 2024 State of ITAM Report, nearly half of organizations estimated that they spent more than $1 million over the past three years on software vendor audits. By collecting accurate data on licensing terms, entitlements and usage you can be prepared for a vendor audit and avoid unbudgeted spend.

When a software contract approaches renewal it’s the perfect time to reevaluate the contract terms and pricing to see if it still meets your company’s goals and objectives. Gathering usage data of the software can help you understand if you are over or underutilizing your software licenses and put you at a position of strength at the negotiating table.

It’s extremely difficult to rightsize your contracts without valuable insights into your investments with each software vendor. You can lower your overall spend by understanding what software you’re utilizing or if you have any redundancies in your software purchases. Dig deeper into your software license entitlements and understand each vendor from a granular level.

If you’re overutilizing software, you’re likely to be audited. Know your true license position, identify potential risks and vulnerabilities, optimize your software costs, and improve your processes by conducting an internal audit of your IT estate. Get the key insights you need for your entire IT inventory and create your true license position to be prepared for any surprise vendor audits.