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Software Audit Nightmares: Businesses Drowning in Rising Costs and Tech Blind Spots
Businesses are grappling with software audits, facing rising costs and struggling to maintain visibility into their tech assets. Flexera reveals that 53% of IT teams lack full visibility, leading to increased expenditures and cybersecurity risks.
Hot Take:
Software audits are like that annoying roommate who constantly reminds you to clean up, but instead of dirty dishes, it’s your IT assets—and the rent is going through the roof!
Key Points:
- 53% of IT teams lack full visibility into their technology investments.
- Companies are forking out more than $5 million in audit costs over three years.
- Wasted IT spending hovers between 20% and 30%, even with increased auditing.
- Microsoft leads in auditing efforts, followed by IBM, Oracle, SAP, Salesforce, Adobe, and ServiceNow.
- Key strategies for cost efficiency include license reuse, better vendor negotiations, and audit compliance.
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