Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Four Ways to Stop Throwing Money Down the IT Drain

Posted by: Today's Tip Contributor on April 8, 2010

International Data predicts worldwide small- and medium-size information technology spending will reach $509.6 billion in 2010, with the majority spent on hardware and software applications. Unfortunately, industry experts estimate that 30% of the budget for these IT assets is wasted due to mismanagement. What can small businesses do to plug the leaks?

1. Take stock of your full IT inventory. Many IT departments are paying maintenance and licensing fees for assets that are underused or simply forgotten. Estimates say that most buy excess licenses for 60% of their software portfolio. By using a centralized inventory management solution, you can automatically detect every piece of hardware and software on your network and see how much they’re used, then immediately eliminate unnecessary assets.

2. Avoid hefty software compliance fines. Organizations without a formal asset tracking system are noncompliant on approximately 30% of their software portfolio, and vendor audits are on the rise. (Gartner recently reported that more than half of all organizations had been audited by at least one software vendor in the last year.) Centralizing and automating your software license management will reduce compliance risk and save you big bucks in the long run.

3. Get control of PC power. Factoring in nights and weekends, most computers are in use less than 20% of the time. An automated power management tool will allow you to apply power usage rules tailored to your users’ work patterns, so their PCs are up and running when they’re in the office and are automatically shut down or in power-save mode when they’re not.

4. Protect against internal threats. Data leakage or privacy breaches can cripple an organization. Yet many businesses focus only on external threats, overlooking that information can also be compromised from the inside out. Find a device management tool that can lock out unauthorized devices, such as USB drives, cell phones, portable hard drives, and music players.

Matt Dircks
Vice-President, Product Strategy
Numara Software

Reader Comments


April 9, 2010 12:38 AM

These are some great points. Another great way to save money is by having a inventory management softwarein place.

Gourab Nanda

April 12, 2010 7:27 AM

Matt, I totally agree with your views here. Another way through which small businesses can save IT costs is by going virtual. Using the right version of the online tools, subscribing to the right plan,and ensuring that employees use those tools optimally in order to increase productivity.

Derek Stolpa

April 21, 2010 3:59 PM

I have dedicated my career to the progressive growth in information technology end user technical support to ultimately leadership roles managing in cradle-to-grave IT Asset Management, Service Delivery, and Procurement in all aspects in including best practices and governance.

As I network within the vendor and manufacturing community of IT products and services, one of the chief complaints is the companies lack of ability to appoint the right people to work between the business and the vendors who understand how the business, market place, and industry works.

On another note, in this role, applications are not everything. Some of the simplest inexpensive tools and process can be used to manage assets and software at an enterprise level. In addition, the application is only as good as the people using it and doing the analysis as well as looking for gaps or opportunities.

Derek Stolpa
Twitter: @technicalstress

Post a comment



Want to improve the way you run your business? Entrepreneurs, academics, and consultants from diverse industries offer practical advice on a variety of topics each business day.

To submit a tip for consideration, first check our archive of previous tips to make sure you're not repeating a tip someone has already contributed. Then send the tip to Small Business channel contributor Michelle Dammon Loyalka. Because of the volume of material she receives, she may not respond to each individual.

BW Mall - Sponsored Links

Buy a link now!