RedMonocle™: A unique software portfolio management solutionIn 2012, Sean McDermott founded RedMonocle. The RedMonocle solution enables companies to effectively manage IT software product sprawl. This enterprise-grade SaaS is implemented by IT organizations that typically have +100 products in their portfolio and expend more than $10 million in software budget. Legacy of SuccessPrior to the founding of RedMonocle, Sean founded RealOps, Inc., the pioneer in enterprise management Run Book Automation solutions (2004). RealOps was acquired by BMC Software in July 2007, representing one of the most successful enterprise management software acquisitions of the year.About the SolutionThe RedMonocle™ Knowledge Base of software products dynamically tracks the offerings from +100 software vendors and provides technical information for more than 600 products. This information includes vendor-supplied specifications and drills down into the function and subfunction layers. A normalized taxonomy of software product capabilities is derived through a combination of market, customer, and SME-based information sources. Analytics-Driven Portfolio AdjustmentsRedMonocle delivers a KPI-based analytics dashboard to display metrics such as software tool deployment scope, usage profile, cost, and product versions. Portfolio efficiency and optimization recommendations are also visualized through the dashboard. Risk factors, including out-of-date product version issues and inadequate software functionality, can be identified in real time.Software Budget Savings
Our clients indicate a budget savings of up to 15% through the adjustment of software usage and downstream product licensing fees. This savings can total to more than $1 million to $3 million in savings, annually, within enterprise IT environments.Explanatory Video | Demo AvailablePlease visit our website: www.RedMonocle.com. Our team has prepared an explanatory video and demo.