Report: 24% of organizations have paid millions in audit costs

Twenty-4 % of organizations have paid millions in audit correct-up costs more than the previous 3 years to organizations such as Microsoft, Oracle, and IBM, according to a new report from Flexera.

The Flexera 2022 State of IT Asset Management report surveyed 465 technical specialists from about the globe and across a broad cross-section of organizations. The participants offered insights into their IT asset management (ITAM) practices. More than half of participating organizations employ at least 5,000 people today, although more than one-third employ 10,000 or more.

A important getting from the report: Corporate IT specialists face dueling expectations.

On one hand, IT, and especially IT asset managers, have to defend their business against computer software audits that historically can expense millions. Fifteen % of respondents paid in between $1 million and $5 million in audit correct-up fees in the previous 3 years, although 9% have paid more than $5 million. Due to the higher dollar fees of audits, 70% of respondents stated responding to audits is a duty, the highest percentage of any duty.

At the identical time, lots of respondents are anticipated to do more than just defend against audits. They are anticipated to lead innovation and drive significant expense savings and expense-avoidance initiatives, such as optimizing computer software invest (54%), enhancing the reclamation of underused or unused computer software (49%), and enhancing management of SaaS applications (48%).

SaaS and cloud stay a challenge for enterprises. Only 28% of IT Asset Management respondents track and optimize the use of public cloud infrastructure-as-a-service (IaaS) and platform-as-a-service (PaaS) — a quantity that didn’t adjust more than last year. One-third (34%) track SaaS usage, a slight lower from last year (35%).

Not only do audits expense income, but the specter of highly-priced future audits distract IT, maintaining specialists from focusing on rising the speed of innovation or top significant expense savings initiatives across SaaS, cloud, and on-premises computer software.

Read the complete report by Flexera.

Originally appeared on: TheSpuzz