Software License Management: Why Does it Matter?
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IT teams perform various tasks when it comes to managing and tracking asset adoption or usage. One of the most important functions performed by these professionals, involves tracking the license lifecycles of essential software investments. Over the years, the use of technology to efficiently manage software licenses has grown more essential, as companies continue to shift from hardware-based investments to software. In the past, many discussions of IT asset management revolved almost entirely around physical resources like endpoint devices and vehicles. However, the pervasiveness of software in virtually every industry is making good management a top priority for all IT teams. 

Defining Software License Management

Software license management is the process of tracking the tools and services your businesses use, the kind of access you have to those tools, and how long the company can utilize the solutions for. While it might be easy enough for a solo entrepreneur or small business to manage software licenses manually, most companies need to access technology to help them. After all, many companies have thousands of software licenses they need to track at any given time. For instance, your company might have hundreds of people using a help desk or service desk solution. Each instance of that software classed as an additional license will need to be managed by the IT team. Through software license management, you ensure you’re keeping track of your investments, how they’re being used, and when you need to renew an investment in a service. 

Companies can also use software license management tools to track how many licenses individual clients have, and what kind of services those licenses offer access to. Used correctly, this technology keeps businesses running smoothly, enhances asset management, and helps companies to avoid non-compliance with software licenses. After all, if a software provider finds you aren’t complying with the rules you agreed to when licensing their technology, you could end up having to pay expensive fines. 

Why Does SLM Matter?

Software license management, or SLM, is an important aspect of effective IT asset management. The right technology is crucial for tracking your investments, improving cybersecurity, and maximizing the business value of your IT ecosystem. An SLM solution can help companies to handle costs more effectively, avoiding issues like overprovisioning and the purchase of extra licenses that often go unused. You can also use SLM technology for credible compliance and audit protection. This means if your software provider audits your use of a system, you’ll be able to protect yourself against any claims that you owe money from improper use. 

SLM can even make businesses more agile and secure. You can keep track of where your businesses might need to upgrade and enhance specific software investments. At the same time, you’ll also be able to keep an eye on out-of-date software versions which could be offering entry points to your business to external criminals. Proper software license management means you can ensure your software remains secure, up to date and equipped to deal with the challenges facing your business. You could even save some cash by determining where you can get rid of underutilized services.

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