How to save $1M of your IT budget by moving to service management software

Apr 13, 2022

How to save $1M of your IT budget by moving to service management software

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Cloud-based service management software like ServiceNow helps businesses manage IT services efficiently, making it easier to ensure they are delivered on time, with the proper quality and level of customer service. In this article, we will share 4 ways that your business can save $1M by using service management software to manage its IT services. Read on to learn more.

1) Better schedule maintenance and upgrades

This is a good one for companies with old or complex technology infrastructure, as well as for businesses that rely on contractors for on-site maintenance and support. With service management software, there is an easy-to-use online repository where you can track contracts, customer information, invoices and work orders in real time. This means less lost documentation, fewer billable hours and improved accuracy across your organization. You may also get access to analytics tools that will help you pinpoint areas of growth or areas where more resources are needed to improve efficiency. Through a single portal you have access to all data related to contracts (contract proposals/execution), invoices/estimates, time sheets & expenses, purchase orders (PO), labor costs & materials etc.

2) Ensure no outages affect your business

With help from IT service management software, you can keep track of devices and make sure that nothing breaks down, which helps ensure uptime for a smooth-running business. Additionally, such programs allow for easy training procedures and employee or vendor accountability, which save money in terms of lost productivity. You will also be able to track issues as they happen, so you’re ready with solutions when something goes wrong. Service management tools quickly gauge how tech is being used and how much it costs across departments and locations. This way, if an employee goes over their allotted hours, you can quickly look up precisely what projects they were working on.

3) Save on infrastructure costs

Like any business, you want to be as efficient as possible, which is why ServiceNow can be so attractive. Service management software allows you to use a vendor’s infrastructure resources in exchange for paying only for what you need. Rather than purchasing and maintaining your own servers or other gear, you can avoid most capital expenses while reducing operating expenses just by using service management software. 

4) Save on purchasing hardware upgrades

When we talk about saving on hardware, we’re not talking about getting a better price on switches or routers. We’re talking about saving money by doing things more efficiently. The first place most companies should look is at virtualization technology, which allows you to use software to mimic what used to be done with dedicated physical hardware. Basically, if it would cost you $500K and two years to buy a new piece of equipment for file sharing and storage, you can get away with installing a few pieces of software that does everything you need for less than that.

Conclusion

In a time when budgets are being cut, organizations need to find ways to get more done with less. With over 5% of annual operating budgets allocated towards manual, inefficient processes, technology service delivery is one area where firms can make immediate savings. By switching from a patchwork collection of tools and paper forms used for contract and services management to automated business process solutions (Service Management Software), companies can significantly save direct costs and lost opportunities. 

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