Customers continue to rely and spend heavily on application management services (AMS) available from outsourcing companies, but with relatively little direct business impact. How can clients get more value out of AMS spending? Sourcing and vendor management (SVM) professionals must repurpose AMS spending from keeping the lights on to achieving business value and accelerating their digital journey. This report describes AMS's emerging role in digital transformation and gives SVM pros a blueprint for getting business value out of AMS investments.