SOFTWARE CONTRACT RENEWAL
Be prepared for your next contract renewal
Before entering a contract renewal, you must understand your current license position. If you are not using software that you’re paying for, you’re wasting resources that could be used for critical projects. If you’re using software that’s not in your primary agreement, you may be at risk of an audit and unexpected financial impacts. Flexera has helped thousands of customers save money and identify their true license position before renewing expensive software contracts.
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Proactively manage software renewals to reduce spend
Prepare for a contract renewal
Prevent over-buying when renewing
If you don’t understand how much software you’re utilizing, how can you know which applications and how many licenses to renew? Flexera delivers the key insights you need across your entire software portfolio (SaaS, on-premises and cloud licenses) so that you can remove applications no longer in use, downgrade licenses from premium tiers, reduce the number of licenses required and consolidate agreements to obtain the most favorable terms and volume discounts.
Accurate data
Gather better insights with accurate data
Inaccurate data won’t help you with a software renewal and may even lead to an audit. Flexera can help you obtain information about your software licenses from multiple sources and automatically cleanse, normalize, standardize and enrich that data with curated content from the world’s largest technology catalog, Technopedia.
Forecast spend
Estimate future needs based on current usage
Choosing what and how much software to renew based on what you purchased before will not help your organization reduce spend and reign in complexity. Get true insights into your current actual software usage with Flexera and fine-tune your new software contract to your actual needs, not just what was purchased previously. With the software market changing so rapidly, assess what new applications employees are using to determine if there is a better option on the market than your prior enterprise standard.
TRUSTED DATA AT YOUR FINGERTIPS
Renew software with trusted data
You can’t have a prudent software renewal with inaccurate data. Flexera didn’t happen upon being a leader in software asset management. We understand that effective asset management hinges on trustworthy data. Flexera has the largest software catalog (across SaaS, on-premises and cloud environments) in the industry and our solutions are verified for data accuracy against all categories of Oracle products. Trustworthy and verified data helps you prepare for renewals faster with confidence.
The biggest challenge in our organization was getting a handle on our entire software portfolio, which was kind of a manual process initially. Additionally, there was a need for more visibility and real-time data around effective license positions, which really was what brought us to the business case.
Software Asset Manager Global Insurance Company
Frequently asked questions
Data normalization rates are a useful metric to measure efficiency and data accuracy, but these rates can be manipulated with selective data inclusion, loosening matching criteria and over-generalization.
Software vendors are starting to verify SAM solutions to ease this burden on customers to ensure they know which solutions they can trust.
Depending on the complexity of your license position, a reasonable time frame can be up to six-months prior to renewal. You’ll need to gather your current ITAM data, analyze this data with your internal stakeholders, assemble a negotiation team, define the outcomes you expect from the negotiation and engage with your software vendor.
- Evaluate current usage and performance
- Review how the software is currently being used across the organization
- Conduct a needs assessment
- Reevaluate your current and future business requirements to ensure the software continues to meet your needs
- Conduct a financial review
- Review the total cost of ownership, including licensing fees, maintenance costs, and any additional expenses. Compare this with the value and benefits derived from the software
- Engage stakeholders
- Ensure that you have support of senior management for the renewal process before you make any potential changes to the contract.
- Negotiate terms and conditions
- Review the current terms and conditions and identify key areas for negotiation such as pricing, service levels, support and flexibility.
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