Implementing software asset management (SAM) best practices is key for proper tracking and optimization. You need to have visibility over software licenses and usage. Using robust SAM tools helps with compliance and cost savings.
In this post, we will show you how to get your software inventory in line with your business and regulatory requirements and get more productivity and cost savings.
The essentials of software inventory
Software inventory management means tracking and managing all software assets in an organization. Having these basics in place will help you optimize resources, reduce duplication, and ensure compliance.
Understanding Software Inventory
Keeping track of all the software applications used in an organization is essential. This process, known as software inventory, helps you identify what programs are installed, ensure you're following licensing rules, and understand how often each software is used.
A thorough software inventory includes details like software versions, license types, installation dates, and expiration dates. Accurate tracking is crucial for maintaining up-to-date records and preventing unauthorized software use. This is where the challenge comes in—manual spreadsheets can be error-prone and time-consuming.
Instead, automated tools offer a more efficient solution. They continuously monitor and update software data, generate reports, manage licenses, and schedule updates. This not only saves time but also reduces the risk of errors.
To manage software inventory you need to use tools that give you real time insights and streamline administrative tasks. That way you can make the most of your resources and comply with the licensing terms, making your software management process more efficient and reliable.
Software asset management strategies
Implementing effective strategies for software asset management (SAM) can greatly reduce costs and ensure compliance. Key strategies are around best practices for asset management and software licensing.
Asset Management Best Practices
- Create a software inventorysome text
- Start by doing a full audit of all software assets to know what is currently being used.
- This includes all licenses, subscriptions, and installations.
- After the audit decide on a way to track and store this information.
- Organize the inventory in a clear and user-friendly way.some text
- Don’t use hard-to-navigate spreadsheets; instead, use dynamic tools that detect apps and software consumption.
- Regular updates and reviews of the inventory help in keeping it accurate and compliant.
These steps will simplify IT asset management and ensure that the inventory is always up-to-date.
Software License Management
- Begin by keeping detailed records of all software licenses to ensure compliance with vendor agreements.
- Review and update these records regularly to reflect changes in your software portfolio.
- Use software asset management tools to automatically track and manage licenses. These tools will help you identify underutilized or expired licenses and make better use of your resources.
- Monitor software usage patterns to forecast future licensing needs. This proactive approach will reduce the risk of penalties and optimize your investment in software assets.
Leverage technology to improve efficiency
Using technology for software inventory can save time and accuracy. Many are moving away from spreadsheets to use advanced tools for asset management, license tracking and overall software management.
Software Asset Management Tools
Software asset management tools allow businesses to keep better track of their software assets. These tools offer features like automated discovery, which simplifies identifying all software in use across an organization. For comprehensive management, solutions such as Prey Suite track and protect assets.
Some top tools like Manage engine, praised for its scalability, and Ninja one, known for flexible business tools, offer specialized features for different business needs. Automating software inventory helps reduce errors, saves time, and provides a centralized view of all assets, enabling better decision-making and resource allocation. This leads to optimized operations and cost savings, making it easier to manage an organization's software assets effectively.
For a detailed plan on managing IT assets, consider reading IT asset discovery.
Alternatives to Spreadsheets
To expand more on the options you have to stop using spreadsheets and improve efficiency, various alternatives can provide a more efficient and accurate way to manage software assets:
1. Database Management Systems (DBMS)
- Pros: Handles large amounts of data, supports powerful queries, and ensures data integrity.
- Cons: Requires knowledge of database languages like SQL.
2. Software Asset Management (SAM) Tools
- Pros: Designed specifically for managing software assets, offering features like automatic updates, license tracking, and compliance checks.
- Cons: May have a steep learning curve and can be expensive.
3. Project Management Tools
- Examples: Smartsheet, Trello, Atlasian
- Pros: Capable of handling various non-spreadsheet tasks, like project timelines and task assignments.
- Smartsheet for Project Management.
Optimization techniques
Software Inventory Best Practices
- Audits: they help you identify unused or unauthorised software and save costs.
- Keep detailed records of all software assets: license keys, versions and installation dates to make management easier.
- Categorise software into groups by function or department: this will make it easier to monitor and pinpoint areas for improvement.
- Use cloud based solutions for easy access and updates.
- Keep your inventory up to date with new installs and uninstalls
- Train employees on software usage and compliance: this will prevent issues and create a culture of responsibility.
Software Inventory Solutions
Inventory optimization tools like those from Timly offer strategies for efficiency, automation, and real-time data for optimal control. These tools utilize data analytics to predict needs and adjust inventory accordingly, minimizing both shortages and excess.
On the other hand, software asset management (SAM) tools can track software lifecycles from purchase to disposal, providing insights into usage and compliance. Integration with other systems, such as accounting and ERP, provides a comprehensive view and simplifies reporting.
We can’t omit AI-powered tools. Employing AI and machine learning can further enhance accuracy by predicting future software needs and usage patterns. These solutions not only save time but also ensure accurate tracking and compliance.
Conclusion
Keep in mind that effective ongoing management and compliance will ensure the consistent tracking and regulation of software assets.
Also, you need to make sure to track software licenses, which will prevent potential fines for non-compliance. Using dedicated software tools for tracking makes this process efficient. These tools can monitor usage, manage renewals, and provide alerts for upcoming expirations.
Don’t forget to keep your license information centralized. This involves storing all license data in a single repository, making it easier to manage and audit.
Frequently Asked Questions
How to manage software licenses to be compliant?
To be compliant, keep a record of all software licenses. Regular audits will help you identify any discrepancies. Use a centralized system to manage and track licenses will prevent unauthorized use. Educate your employees on proper software usage to be compliant.
Which tools are recommended for software asset management?
ManageEngine, ServiceDesk Plus (for asset life cycle management) Sortly (for inventory management) InvGate (for managed IT hardware and software)
How to automate software inventory management?
Automation in software inventory management can be done by using software inventory tools. These tools can track hardware and software continuously, update records in real-time and generate reports. By automating these tasks you can reduce manual errors and improve accuracy of your inventories.
How to track software licenses across the organization?
Implement a centralized license management system. This system should report on license usage and compliance status. Regularly scheduled audits and alignment of software purchases with actual needs will help in maintaining accurate license inventory.
Why to keep software and hardware assets up-to-date?
Keeping up-to-date is important for IT asset management, risk mitigation and cost optimization. Accurate tracking prevents unauthorized usage, ensures compliance to licensing agreements and reduces downtime. Up-to-date inventory helps in planning for future IT investments and upgrades.
What to consider when setting up software asset management (SAM) for a new organization?
When setting up SAM, define clear policies and procedures. Assign dedicated roles and responsibilities. Choose the right tools for inventory management and compliance tracking. Educate staff on SAM and how it impacts business.
