A person's hands at a laptop

Reducing software cost and risk for financial services

 

Optimise cloud spend, and reduce software costs and risk in your institution’s estate

Managing enterprise software within your financial service institution is a challenge. Within such a heavily regulated sector, financial institutions must have a robust process to identify, assess and mitigate risks, such as breach of license compliance terms. 

Reducing software costs is always imperative. Without effective software asset management practices in place, software spend and cloud costs can spiral out of control. 

We can proactively uncover ways to reduce your on-premises enterprise software costs, and optimise cloud spend whilst mitigating license non-compliance. 

Avoid spending money on software you may already own through effective software asset management. Reduce the risk of non-compliance arising from cloud migration, virtualisation and M&A activity, and prepare for or defend against vendor audits and potential punitive fines.

Our license experts can reduce your software cost and non-compliance risk – avoiding regulatory fines and associated repercussions and freeing up budget for core financial service projects.

tall skyscraper building

Case study: Banking customer success story

Our banking client engaged with us to understand any license non-compliance risks and exposure in their estate.

During the engagement, we:

  • carried out an extensive analysis of their entire portfolio
  • shared knowledge on effective deployment
  • instigated a declaration process for major contract negotiations
  • assessed the license position for Database and banking applications.

As a result, we removed the need for the client to procure additional software, which would have amounted to just over £50m list. Effective declaration resulted in multiple billion pounds worth of software from an initial investment of just over £10m.

Software and cloud spend reduction for financial services institutions

Our license and software asset management consultants have carried out hundreds of customer engagements with banks, insurance organisations, asset management firms and brokers globally over the last 20 years. We have contractual, commercial and technical proficiency across a broad range of tier 1 software vendors, with deep expertise in IBM, RedHat, Oracle and Microsoft.

IBM and RedHat cost optimisation

Our IBM and RedHat license experts can support any financial service institution with optimal licensing cost management, IBM and RedHat audit defence, and risk avoidance.

Learn more

Oracle Unlimited License Agreement (ULA) lifecycle services

Our Oracle ULA experts can support any financial service institution with Oracle ULA procurement, management and declaration, for optimal ROI.

Microsoft Enterprise Agreement (EA) true-up/down and renewal

Our Microsoft EA experts can support any financial service institution with their annual Microsoft EA true-up/down, and support the planning of your Microsoft EA renewal for optimal commercial and technical benefit.

Software asset management

Our SAM consultants can deliver tier 1 software vendor SAM managed services (single or multiple vendors), to reduce software cost and risk, avoid unbudgeted spend and fund core IT projects.

Software vendor audit defence

In our software vendor audit support and defence service, our client-side engagements ensure the best possible commercial outcome, and reduce punitive software fines, unbudgeted costs and regulatory risk.

Cloud cost optimisation and FinOps

Optimise cloud spend by implementing commercial and technical augmentation strategies for either a standalone engagement or ongoing Financial Management (FinOps) of your cloud costs and platform performance.

Achieving on average 82% cost reduction in software audits: Proven strategies for financial services

Our skills in reducing software costs and familiarity with vendor behaviours in an audit situation have helped to deliver financial risk reduction of over 82% on average during audit scenarios – saving our financial services customers millions in unbudgeted software spend.

An Asian businesswoman analyzes digital charts on a computer screen, reviewing performance reports
overhead view of people working around a table in an office

Reducing software cost and avoiding unnecessary software spend

If you do not have clarity on your license position, it can be very difficult to make informed decisions on when to procure software (or not) or avoid risk and cost of potential non-compliance.

This can lead to wasting money on software you already have – or worse, receiving an unexpected bill for breach of compliance.

Empower your ability to reduce software costs by watching our SAM experts, Brian Lavelle and Jason Pepper, discuss how to reduce software spend and avoid unnecessary software costs in your enterprise software estate:

Watch the video

Blogs