Software asset management is also included in the Information Technology Infrastructure Library ( ITIL) as a key business function capable of ensuring software is managed throughout its life cycle.Įnd-user license agreements (EULAs) outline the specific terms and conditions of software usage. Software asset management can be critical for organizations to remain compliant with software licenses and can help ensure resources are being used appropriately. Why is software asset management important for organizations?.

Tracking updates can help you ensure your software and licenses are up-to-date. Updates: A failure to update software can cause compliance and security gaps.Resources: You should use software license tracking data to determine whether you have an excess of licenses or are missing critical licenses.Software usage: Do you know how your business software is being used, altered, or distributed? This requires audits and policy enforcement to ensure there are no gaps between agreements and reality.Inventory: Users should catalog current licenses, systems, and software so they have an overview of their current assets.Procurement: As you purchase software, you should document new programs and standardize how you track the licensing terms.To ensure a successful software asset management process, users should consider the following best practices for effective software license tracking: This can include gaining insights into the status of cloud and on-premises software. Enterprises need to be able to manage how software assets are acquired, deployed, maintained, used, and phased out. Software asset management is part of the overall IT asset management for a company’s software and hardware. Software asset management involves ensuring your enterprise has visibility into and control over software licenses and contracts.

Open source license manager software