Unused Software Licenses: Costs Businesses Money of 2021

Humanity does have a problem with waste, and not only trash or food. Did you know that, on average, companies are wasting 37% of their software license? That’s a big waste and will not reflect in society, but in their business model, and automatically in their expenses.

Still, we must admit that the way people consume and purchase software products has changed lately. In the US, the cost of this software license waste rises to almost $30 billion IT dollars. Enough money to put an end to world hunger. Yet, how do companies can stop wasting their software license and save money?

Why companies waste money on unused software?

Companies waste money

First, we must ask why this phenomenon is happening and how companies are ending spending money on software licenses and not using them at their full potential? After exploring a little bit, the software industry, you can realize how much has been growing in the last few years.

As a result, more and more software products are developed, which led to an overcrowded market. Thus, companies and individuals are in a position where they don’t know what to choose anymore, which fits their business model or personal needs better.

Moreover, because of the number of software products and the diversity, we can agree that companies are trapped in a cluttered scene. They end up purchasing so many software licenses to boost their businesses that, as a result, they are not using each one at its full potential. In the end, companies are ending up spending money that leads to nowhere.

How can companies use their license software without any waste?

Now that the problem has been identified, how can companies solve this issue and grow their business with the right tool without wasting money? As living in a digital age, the answer is online.

There are many solutions for all companies that want to reduce software waste and purchase only the right tools working for them. One of them is Tekpon.com and is a software aggregator where individuals or businesses can benefit from support in choosing their right software.

So, instead of going on a trial-and-error strategy, companies can get help in finding the right tools that will grow their profit. On Tekpon.com, you can find honest reviews about all the software products on the market, the newcomers and the old ones. Because you see, without having the big picture of a software product, businesses can’t know for sure what it will work for their business model.

So, here is where Tekpon can help your business: they will recommend the right software based on researched reviews on each product. Moreover, companies can grab the latest deals and track their subscriptions to find out exactly how much from the tool your business is using. For example, in this way, you’re not going to spend a lot of money on four tools that are doing precisely the same thing for you, just to find out which one is working better.

Track software license with the right tool

Software Licenses

Another solution proposed by G2.com is tracking your company’s software licenses, identifying the one you are using the most, and how much you spend on each. Having the big picture of all our SaaS products in one dashboard will help your company better manage your spending. Moreover, you can be aware of your license expiration date and decide if you want to renew or not. All of this just to cut all the software waste and grow your profit.

The third solution could be a Software License Tracking product that will take care of all your licenses. In addition, a tool like this will send you notifications when your license is about to expire, support multiple types of subscriptions, deliver your data about each software version, and if there is an update and storage software documentation.

Again, there are a lot of tools like this in the market. How can you choose the right one? This will make you turn to the first solution: a software aggregator like Tekpon where you can read an honest review, find out which tool is better for your company model, or find out exactly what your needs are regarding using software products.

Unused software can lead to nowhere good. Wasting money on tools that are supposed to grow your business is not a real solution. Yet, choosing the right software for your business is. Now, more than ever, companies need to invest smartly in tools that will bring them profit, save money, and help their employees work better, faster by automizing their repetitive tasks.

The software market is growing each day, and is so much diversity in products. The only viable solution to boost your business is to use the right software and stop wasting money on many other tools that are not used at their full potential.

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