License management software explained
With the ongoing technology boom, many companies are turning to software solutions to help manage their data, including license management software. License management software is a type of asset management software that helps businesses track software licenses. The software may have features such as automated scanning, alerts, and flagging illegal licenses. It can also get rid of unlicensed software, reducing the risk of illegal activity or fees. This blog discusses the features, capabilities, and benefits of using SaaS license management software.
Features and capabilities
License management software offers many features to help organizations save time and money. A few key capabilities include:
- Automated software recognition
- License tracking and alerts
- Identification of license types
- Flagging unauthorized software
These features deliver key insights about the software currently installed, help overcome inefficiencies, and ensure proper license management. Users can instantly review and resolve any issues that arise with the touch of a button.
Benefits of license management software
License management software provides many benefits to users that help ensure compliance with software conditions. Learn more about the advantages the software offers below.
Manage all your SaaS license data from one platform
Storing all license data in the same place helps companies become aware of and return unused licenses and duplicative software. Ensuring up-to-date license information leads to smoother audits and reduces software spend by tracking the use of each license. After implementing license management software, the organization experiences more efficient license data management.
Avoid penalties and maintain compliance
License adjustment costs are avoided as the SaaS management software detects any unlicensed applications used in a network. Any illegally acquired or unauthorized software is flagged. With license management software, companies reduce the risk of unwanted fees or penalties.
By managing license updates and tracking all costs related to licenses, companies using software streamline their SaaS finances and have a more accurate budget to use for forecasting. Upsize or downsize your licenses based on their utilization and improve SaaS spend management.
Never miss a licensing event with alerts
With automated alerts, companies with license management software never worry about missing an upcoming renewal, expiration, or payment.
In conclusion, license management software improves efficiency, decreases unnecessary spending, and centralizes data. It helps organizations ensure software license compliance based on vendor regulations. Regardless of the number of licenses a company has, effective license management software is vital to streamlining business processes.