Large businesses are increasingly realizing they have a major problem around SaaS management. The use of cloud services is going up but, unlike with traditional on-prem technologies, few companies had controls in place before the pace of SaaS and UCaaS adoption accelerated. And while SaaS applications were a lifeline for companies and workers when COVID-19 hit, the scope of expenses associated with so much cloud service sprawl is just now becoming clear.
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Shadow IT has long been a common business unit practice. When the wait for an approved solution from the corporate IT department feels too long, users navigate around the corporate policy and find their own solution. While there’s immediate relief to a pain point, there are compound long-term security and spend implications. How can an organization recover and take control?
Even the most benign of SaaS solutions can put a company at risk, functioning outside the parameters of IT security, privacy, and regulatory requirements. And the inherent challenge with SaaS, is that the risk is not a static moment in time. The institutional intelligence lives on in the cloud even as the user discontinues software usage. This means long-term exposure to both security breaches and spend.
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MDSL was able to help a large, U.S.-based asset manager automate the cost allocation of index licenses for the fund management industry using our Index License Manager (ILM). Let's take a closer look at this client success story and explore the complexity of license management, MDSL's proposed ILM solution and what organizational outcomes were produced for the client.