
EZOfficeInventory
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EZOfficeInventory is a dynamic asset and maintenance management solution tailored for companies of all sizes. The cloud-based software works as you do and is accessible from anywhere and at any time. Track items across locati...Read more
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A business with 200 to 501 employees, on average, uses about 123 SaaS applications. Without the right tools, it can be challenging for IT teams to manage licenses and ensure compliance with vendor agreements for that many software applications.
This is where license management software comes in. It helps manage the license inventory, track application usage, and ensure compliance with end-user agreements. A license manager also assists with software audits and supports the automatic activation and deactivation of licenses.
This buyers guide will help you better understand license management software, its features and benefits, and recent market trends, so you can choose the best tool for your business.
Here's what we'll cover:
License management software is a tool that helps businesses document and manage software licenses to ensure compliance with vendors’ usage terms and conditions. It registers the various software applications used in an organization and manages the license inventory.
License management solutions offer complete visibility into company-wide software usage. They automatically track license expiration and renewal dates to help ensure compliance and avoid penalties. They can be purchased as stand-alone tools or as part of software asset management (SAM) suites.
In this section, we’ve listed some of the common features buyers seek when purchasing a license management solution.
Automated discovery | Identify and register the different types of software applications used across departments, and track their usage and license models. |
License tracking and license inventory | Maintain a centralized license inventory with complete information on the number of active and unused licenses, software license agreement terms, expiry/renewal dates, license versions, and more. |
License entitlement management | Manage the rights to use licensed software across departments. Assign, revoke, or reallocate license entitlements based on the needs of various users or teams. |
Dashboard/reporting | Report over or underutilization of software licenses, and track software purchase ROI using dashboard reports and analytics. |
Alerts/notifications | Receive alerts about license expiry dates, overutilization, and unauthorized use through email or pop-up notifications. |
Software licensing model | Define and deploy various types of licensing models, such as trial licenses, concurrent licenses, or mobile licenses, based on your pricing strategies. |
License management software is used by vendor organizations as well as end-user businesses to track software license usage. Let’s check which category you belong to.
Here are some ways in which license management software can benefit your business:
Besides software features and benefits, here are some factors you should consider when buying license management software:
Here are some trends impacting the license management software market that you should be aware of:
Note: The application selected in this article is an example to show a feature in context and is not intended as an endorsement or a recommendation. It has been obtained from sources believed to be reliable at the time of publication.