The 2023 Gartner® Magic Quadrant™ for SAM Managed Services is now available. Get the Report

CUT SOFTWARE AND CLOUD COSTS WITH THE RIGHT SAM AND FINOPS MANAGED SERVICE

“Well-defined software asset management and FinOps services can materially reduce costs and control risks. Sourcing, procurement and vendor management leaders must envision, scope, validate, select and initiate services that deliver cost-optimization outcomes for the software and cloud portfolio.”1

It has become near impossible for IT leaders in large organizations to effectively manage IT consumption and waste without a Software Asset Management and cloud FinOps discipline. At the same time, SAM and FinOps are becoming increasingly more complex and difficult to implement. It is extremely challenging and expensive to acquire and maintain the needed expertise in-house.

For these reasons and more, organizations can greatly benefit by seeking external assistance with their software asset management and FinOps needs. Growing recognition of SAM and cloud cost management skills has led to an increase in the number of managed services available. With so many options, how can IT leaders know which service and service provider will be the right fit for their organizations?

This Gartner report details five stages to help IT leaders select the right SAM and FinOps managed service provider that will fit their organization’s needs.

This Gartner report explores:

  • The Gartner report’s five recommended stages to find the right SAM and FinOps managed service: Envision, Scope, Validate, Select, and Initiate.
  • The incredible amount of detail and due diligence needed to find the right service provider.
  • Why organizations should be wary of including excessive dependencies in the statement of work (SOW).
  • Common pitfalls to avoid when selecting a SAM and FinOps managed service, such as lack of commitment to ownership.

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    What you’ll learn from this report.

    This complimentary Gartner report outlines five stages of requirement developments necessary to realize optimization and governance outcomes from SAM and FinOps managed service providers.

    1. Develop the Mandate to Utilize a Service Provider. Engage internal stakeholders and establish critical success factors in this stage.
    2. Convert the Mandate into Statements of Scope. This is where you establish a clear scope of requirements and define the parameters for SAM and FinOps services.
    3. Evaluate, Validate, and Select Managed Service Providers. Here you create your shortlist and evaluate references to identify valid providers.
    4. In this stage, Gartner® recommends that you pursue proposals aligned with your service mandate and run a proof of concept in dynamic sourcing scenarios.
    5. Negotiate an Aligned SOW with Minimal Exclusions. Structuring an SOW that meets your requirements and agreeing to terms are vital steps in this final stage.

    1Source: Gartner, Cut Software and Cloud Costs With the Right SAM and FinOps Managed Service, Stephen White, Yoann Bianic, 24 January 2024
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