Software Renewal Hacks
The financial year end is approaching for some of the bigger software vendors - so what better time to look at how you can benefit during your software renewal(s).
Published on 5th May 2022
With the growth in popularity of platforms such as TikTok and a lot of the ‘life hacks’ that this social media application circulates, I thought the title of this blog might appeal to those of us that crave the satisfaction that is called the ‘hack’.
It is at this time of year that we approach the financial year end of some of the bigger software giants, so there isn’t a better time to remind everyone of the powerful hacks available to you:
1. Use financial year-ends to your advantage
When companies such as software manufacturers, resellers, and service providers alike, approach their financial year ends, they are more likely than ever to incentivise a close in sale. Do your homework when strategising for the renewals ahead to take advantage of this opportunity. This hack will translate to other contracts too, you are welcome.
2. New agreements terms are a gold mine of opportunity
I have said this before, and I will say it again; if there is ever a time to negotiate the terms of your contract, it is at the beginning or at term renewal. Many organisations will spend decades accepting standard terms of agreement for their largest software assets without scrutinising and negotiating on the usage rights that they require. Be fearless my friends.
3. In 2022, you are far more likely to be over-subscribed
Whilst the recent evolution of software to ‘the cloud’ removes the likelihood of unlicensed deployments, what it does lay way to is the potential for over-subscription. If your JML (Joiners, Movers, Leavers) processes are not where they need to be, you could continue to pay for leavers long after they have moved on. As well as well over-provision on projects that have long since come to a close. Keep an eye on inactive subscriptions and periodic due diligence here will pay off.
Hopefully you will find this blog as short, useful and ‘punchy’ as the 2-minute hacks we all revel in…’til next time.
Written by
May Turnbull
Director
