U.S. companies are wasting a staggering $28 billion on software, according to an analysis of data over five years confidentially shared by 148 clients of global software firm 1E.
London-based 1E’s study defined a piece of software as “unused” if it hadn’t been run within the past 90 days and “rarely used” if it sat idle for 30 days.
Combining both definitions produced a total waste percentage of 38%, or the equivalent of $247 per software user or $7.4 million per business, the study found.
That’s a vast pool of potential savings for CEOs to tap as they struggle to maintain margins in the face of patchy economic growth and ongoing import competition from low-cost production hubs such as China.
The program found to generate the most waste was TechSmith’s Camtasia Studio, which is used to create tutorial videos and presentations. Here’s the top ten by waste percentage:
1. TechSmith Camtasia Studios (67%)
2. SAP Crystal Reports (63%)
3. Adobe InDesign (55%)
3. Adobe Dreamweaver (55%)
5. Microsoft Visio (47%
6. Adobe Illustrator (47%)
7. Microsoft Project Professional (46%)
8. Adobe Photoshop (42%)
9. Helios TextPad (40%)
10. Corel WinZip (34%)
“There is huge evidence of software waste across industries,” report co-author Buffi Neal said. “The inability of organizations to reduce average waste levels suggests they remain unaware of the underlying cost-saving opportunities.”
The aviation and education sectors experienced the most waste, at 47% each, while the pharmaceutical and insurance industries used software the most efficiently.
To address the problem, IE says it’s a simple matter of reducing the volume of new licence purchases. Even a conservative reclamation rate of 75%, for instance, could help save more than $182 per user, it estimated.
Chief Executive Group exists to improve the performance of U.S. CEOs, senior executives and public-company directors, helping you grow your companies, build your communities and strengthen society. Learn more at chiefexecutivegroup.com.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
