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Study says poor asset tracking can be costly

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Redwood City, Calif.--Businesses are struggling to make the most of their information technology spending despite tough economic conditions, according to a study released Wednesday. The report by SupportSoft, Inc., which provides support automation software, said many enterprises use only a small proportion of their application software functionality, despite millions of dollars of investment. Moreover, businesses find it challenging to gain control of their IT infrastructure, as many don't have an accurate record of their IT assets. Online research firm Gartner2 estimates that the number of Fortune 1000 companies that have implemented asset tracking software is less than 2%, even though the average first-year savings for a company that spends $50 million on software is $2.5 million. Gartner also estimates that the payback of implementing this type of software can be accomplished in just three months.
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