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Report: Companies waste 1/3 or more of their IT budget

December 13, 2022

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C-level executives are aggressively looking for new ways to save money heading into 2023. Increasingly, they are turning to IT asset managers to uncover savings.

Cutting back on unnecessary IT spending is essential. A Flexera report found that on average, IT asset managers estimate that 1/3 or more of their IT budget is currently wasted. This includes desktop software (38% of spend wasted), data center software (34%), SaaS (33%) and IaaS/PaaS (33%).

As global economies teeter on the edge of recession, the importance and influence of ITAM teams are increasing. This year, the Flexera State of ITAM Report found 43% of IT asset manager (ITAM) teams report directly to the CIO/CTO, nearly twice as many as last year, when that figure was just 22%.

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