Cloud Vendor Management Best Practices
Cloud vendor management became drastically laborious and time-consuming task for many organizations. Business leaders and IT professionals can’t achieve clear visibility into what applications employees are utilizing throughout the company. Additionally, employees can also test out, purchase and deploy new applications without checking with IT specialists. Thus, it’s almost impossible to manage cloud usage or spend without decreasing employees’ productivity and flexibility. The following article covers vendor management best practices that help IT leaders gain control over cloud vendors and application usage.
Keep Track of Vendor Contracts
In the cloud era, keeping track on vendor contracts and licenses is significantly important. Cloud agreements may be assigned to several employees or departments throughout the company. Furthermore, employees often deploy cloud applications without approval or acknowledgement of IT department. As the result, organizations often can’t stop the prevalence of ineffective or unsanctioned vendor contracts.
A cloud management platform like Binadox can help you get accurate visibility into all cloud vendors across the organization. Binadox allows businesses to easily inventory cloud vendor contract ownership and identify abandoned, ineffective or underused subscriptions.
Streamline Cloud Renewals
Managing cloud app renewals is increasingly complex challenge, since app users could not be informed when the next renewal is coming. Most often applications have an auto-renewal option turned on, and some organizations aren’t even aware that they’re paying annually for unused applications. Another situation occurs when a user gets a paid license after a free trial or buys advanced features for a freemium subscription. Either way, without direct control over application renewals, companies are continuously billed for unused or underused paid products.
Organizations need to manage renewals and contracts via one powerful dashboard. Hence, IT professionals and business leaders can remove the necessity to recall renewal dates of each license. Furthermore, with such centralized system of records you can stop the prevalence of unexpected bills and budget overspending completely.
Manage Spend Across Individuals and Categories
Aside from streamlining renewals and vendor contracts, it’s also highly important to look into spend across application categories and individual business units. A comprehensive cloud management platform like Binadox provides individual user costs data and detailed expense reports, including company spend by categories.
Individual reporting helps organizations to identify what users are spending most on applications, what application users are least active, and who’s the most active user in the company. By using a cloud management platform, enterprises can also gain detailed expense reports and break down spend into categories. Therefore, organizations can facilitate spend management and optimize cloud app costs.
Uncover App Usage and Identify Redundancy
Once your organization has solid understanding of individual business units and teams, you can concentrate on uncovering actual application usage. By receiving accurate utilization data, CIOs and IT teams can understand if an application meets all of employee’s requirements.
An application inventory solution provided by Binadox Cloud Management Platform can provide a wealth of app information. This includes which paid subscriptions are unused or underused, whether there are redundant or ineffective applications, if an application requires additional features, and much more.
Accurate visibility into application usage allows organizations to properly select a new app instead of unused or underutilized tools. Binadox enables IT and business leaders easily manage app onboarding and offboarding processes, reassign billing owners or ineffective licenses. Binadox also helps organizations optimize spend, and greatly improve company’s budget.
Engage in Cloud Management Platform
With a cloud management platform like Binadox, organizations can automate and refine usage monitoring and spend control. Rather than restricting access to cloud vendors or trying to track application usage via spreadsheet solutions, IT professionals and business leaders can facilitate management operations and drastically save time by using one powerful dashboard. Binadox provides IT professionals with a comprehensive set of solutions to ensure that your cloud vendor management strategy is driving the largest impact possible.
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