Increase Your Company's Stability With Effective License Management

02 Apr

A license management system is a comprehensive software control tool used by end-users or independent software vendors to manage where and how different software products can be used. License management systems control the distribution of software and related documentation, identify users who have paid for a license, and provide options for licensing products such as support, advertising, or upgrades. Some licensing systems also allow the user to make their own rules about how their product will be licensed and used. The main advantage of a license management system is that it automates the licensing process, providing an automated means of evaluating license compliance. By engaging the right service provider like securityweaver, you get your license management done right.

Software asset management is the process of protecting software licenses from loss or damage. Asset management involves identifying the assets in your organization and designing strategies to protect those assets from theft or destruction. You can prevent loss of software licenses, backup critical data, and reduce the cost associated with software licensing. Asset management is essential for competitive businesses that rely on intellectual property (IP) to create and expand their business.

Companies that do not specialize in software license management may make the mistake of trying to develop their own asset management plan or they might choose to hire a third party company to implement a true-up plan. Unfortunately, neither of these options guarantees success. Developing an effective plan requires thorough and in-depth analysis that takes into consideration the current usage trends as well as projections for future usage trends. Creating an effective software usage management system that is easy to use is also important to many companies. Your software usage management team should be able to help you design an efficient license management strategy that effectively reduces theft and losses while maximizing profits.

Unused software licenses result when a license has been purchased for a product that is no longer in production or when a company decides to upgrade its product line. There are many potential sources for unlicensed software licenses; however, the most often used source is the end user market. End users purchase licenses for a broad range of applications and technologies and often do not perform any technical support or update requests. If your company implements effective license management strategies, it can successfully reduce the number of license expiration notices and claims while also helping to increase overall software license management profitability.

Proper license management is necessary for competitive businesses that rely on intellectual property (IP) to create and expand their business. Eliminating potential lost revenue and ensuring proper licensing for current and upcoming software licenses can significantly decrease the cost of maintaining an effective software license management system. Investing in license management services can provide your company with the expert knowledge and expertise to effectively manage all forms of licenses from current and new customers as well as provide solutions to license expiration date issues. The right license management service can streamline software license management processes while improving licensing decision accuracy. A software license management expert can ensure compliance with all federal and state laws and keep your organization compliant with all of the changes that are afoot in the software licensing world. To ensure you are not overspending, ask about the cost of each system delivered.

There are numerous benefits to implementing software license management systems. Ensuring software expiration compliance and reducing costs related to license expiration are two of the most important benefits. Ensuring that you obtain all licenses required by your customers and comply with all requirements related to software license management systems are critical to customer satisfaction and reducing software license management costs. Simplifying license expiration notification and handling renewal communications with customers can save your company time and money.

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