IT managers at large and mid-sized enterprises need to become more adept at tracking their technology investments, including software assets, if they are to ensure compliance obligations are met and, potentially, unlock capital trapped within the business.

A survey by business and technology consultancy Centrix, conducted among 100 IT decision-makers at organisations with over 1,000 employees, found that two-thirds do not have an accurate picture of what software is deployed across their organisation. Furthermore, almost a third were unable to account for how many of the software licences they own.

According to the report, the problem is surprisingly acute among the largest enterprises – 63% of IT executives in companies with more than 3,000 employees said that they didn’t have an accurate depiction of software assets within their business, compared to 54% in companies with 1,000 to 3,000 staff.

The survey’s authors note that while the correct software can encourage business innovation, there is a significant disconnect between what software companies buy and what they actually use, leading to significant budget wastage.