August 17, 2016 | Leave a comment For many businesses, a wanting understanding of information technology contributes significantly to the wastage of company resources. The widespread underuse of IT in businesses is a significant contributor to dwarfed business success. According to a 2015 report by Forrester Research, over 70% of IT budgets are underutilized. Instead of making information technology a driver for growth in the company, many executives see it only as a way of keeping their companies afloat. Business leaders who understand and appreciate the place of information technology in today’s marketplace invest in the best ITAM software available in the market. Here are three reasons why you should also incorporate ITAM software in your company in 2016. Cost reduction As your company grows, you keep buying more software to make it easy to achieve the goals you have set. At some point, most companies lose track of the software they have bought and its contribution to an improving bottom line. IT Asset Management software helps you to find and remove IT assets that your company is underutilizing. Companies that have embraced ITAM software have seen drastic reductions in the resources that go into the IT department. When you remove the software that you barely or no longer use, you essentially improve the efficiency of those you use. Some software upgrades and new purchases may lead to functional redundancy for the software you bought long ago. You should eliminate these outdated applications for optimal performance. Reduction of the company’s overall risk More often than you may realize, malware finds its way into business systems because of the use of outdated software that does not have the latest updates. When a company is unaware of the number of software it has in its system, it is practically impossible to diagnose malware threats and security fault lines. ITAM software will help you know what software you have, which programs are no longer in use and which ones could be replaced with newer and more secure applications. It will also help you identify software that is in use within your company that may not have updated licenses and take the necessary steps to get them. This will decrease the probability of successful security breaches of your company systems. Time saving ITAM software gives a company a clear, quick and easy look into the system. This makes it possible for the organization to do a proper audit of company resources. As a result, underused resources are reassigned while others are removed from the system. Company employees can use the time they would have spent on maintenance of these resources to do other projects. While the use of ITAM software requires a little learning, the value it provides far outweighs its learning curve. For every business that seeks to outshine its competition in the 21st century, incorporating IT Asset Management software is a must do.