As growth resumes, engineering managers need to be agile and well-prepared with reporting and information available to them. How can you best respond to the constantly changing times? Having information and statistics about your engineering licenses will be helpful.
Engineering teams know they need to spend money on expensive engineering software, but many tools start at several thousand per license. When you have a team of 25, 100, or more engineers, this expense quickly adds up. So, what can company leaders and managers do? Use a reporting system that monitors licenses for these expensive engineering licenses.
Using a tool like LAMUM can help you with active monitoring. Make sure you are spending your expensive engineering resources wisely.
We understand that it can be difficult to forecast future engineering needs as companies adjust to current economic challenges. One way that would help is to look at current usage rates and see who is currently using engineering software, at what times and which tools.
Many departments are being asked to streamline their efforts:
- Reduction in operational overhead
- Reducing costs
- Improve and demonstrate overall operational efficiency
- Reducing and keeping costs at a minimum
How can engineering departments reduce operating costs and improve efficiency? With optimization, there is increased efficiency and sustainability. The challenge is to reduce costs and streamline in such a way that this does not sacrifice engineering capabilities.
Based off this data, you can be better prepared and assess budget needs and constraints and figure out finances further. Here are a few tips:
- Make sure you right-size your engineering software.
- Look for usage trends – by tool / person / time.
- Set up alerts to make sure your team is using expensive engineering tools to the fullest.
- Make better educated decisions by knowing what you own.
It’s hard to make decisions if you don’t have enough information. Our tool helps you see the full and better picture.