This document summarizes the ITAM Review US Conference 2016. It discusses how the UK government was able to achieve significant cost savings in its public sector software spending, estimated at $2-3 billion annually, by taking a phased, standardized, enduring, and collaborative approach to software asset management. This approach helped audit software usage and negotiate better commercial deals, cutting the government IT bill by £85 million in 2014/15 alone according to reports. Key lessons learned included bringing together different skills, focusing on measurable outcomes, sharing successes, maintaining relevance over time, and adapting to change.