Virima’s guide: Top 10 software license management best practices
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Virima’s guide: Top 10 software license management best practices

ByTeam Virima

Table of Contents

Audits can be daunting, especially when it comes to managing software licenses. Ensuring compliance balanced against avoiding pitfalls requires a solid understanding of software license management best practices.

In this blog, we’ll explore essential enterprise software license management best practices that will help you navigate the IT audit smoothly. By adopting these practices, you can safeguard your organization from potential issues thereupon.

What is software license management?

Software license management, or SLM, is an extensive process within organizations. It involves acquiring, tracking, and strategically managing software licenses. These enterprise software license management best practices include obtaining licenses and monitoring their deployment across the organization. As a result, it ensures their correct use according to licensing agreements.

At its core, the primary goal of software license management best practices is to optimize the organization’s software assets while minimizing costs. To understand this better, let’s explore the common types of software licenses:

  • Proprietary licenses: These are sold by software vendors with specific terms and conditions. For example, licenses for popular software like Microsoft Office, Adobe Creative Cloud, and Oracle Database fall into this category.
  • Subscription-based licenses: In this model, users pay a recurring fee for access. This often includes regular updates and support. For instance, Microsoft 365 and Adobe Creative Cloud are prominent examples.
  • Freeware & shareware:
    • Freeware: This software is provided at no cost. However, it usually comes with limited functionality and no rights for modification. For example, Skype and Dropbox are typical freeware.
    • Shareware: This type of software is distributed on a trial basis, with an option to purchase a full software license management software. Common examples are WinZip and WinRAR, allowing users to try before they buy.
  • Permissive licenses: These licenses grant access to the source code, often for free. They promote collaboration and code sharing. Notable examples include the GNU General Public License (GPL) and the Apache License.

In summary, enterprise software license management best practices help organizations make the most of their software investments while keeping costs under control. By understanding and utilizing these various types of licenses, businesses can ensure they are compliant and efficient in their software usage.

Why is software license management important?

Here are several reasons why Software License Management software (SLM) is essential for your organization:

  • Compliance: Adhering to software licensing agreements is essentially critical. Non-compliance can lead to hefty fines, damage your organization’s reputation, and disrupt operations. So, it’s important to stay compliant.
  • Cost control: Enterprise software license management best practices help you manage expenses better. By preventing unnecessary spending on unused or redundant licenses, you ensure your SaaS budgets are used efficiently. In short, this means no more wasteful expenditures.
  • Security: Keeping all software up-to-date and secure is vital. To clarify, unmanaged software can be vulnerable to data breaches and cyber security threats. Therefore, good license management is crucial for maintaining security.
  • Audit readiness: Always be prepared for software audits. With effective software license management best practices, accurate records are readily available. With this in mind, audits become much smoother.
  • IT asset management tools: Proper software license management best practices ensure your employees have uninterrupted access to the software they need. This boosts productivity and operational efficiency. In particular, having accurate asset inventory software is crucial for budgeting, planning, and decision-making.

In summary, software license management software (SLM) is not just about compliance. It also helps control costs, enhance security, streamline audits, and improve IT asset management strategy.

Common setbacks of managing enterprise software license management best practices

Effective software license management best practices are crucial, but they can come with their own set of challenges. Here are some potential setbacks to be aware of:

  • Complexity: Managing software licenses can be complicated. Particularly, keeping track of various licenses, renewals, and compliance requirements may overwhelm some teams.
  • Cost overruns: Without careful management, licensing costs can spiral. For the same reason, organizations may end up paying for more licenses than needed.
  • Compliance risks: Incorrect management can result in non-compliance. In effect, this may lead to fines or legal trouble if enterprise software license management best practices are not properly tracked and maintained.
  • Resource strain: Implementing and maintaining software license management best practices can strain resources. Moreover, it often requires dedicated time and personnel, which may divert focus from other important tasks.
  • Integration challenges: Integrating license management systems with existing IT infrastructure management can be tricky. In fact, compatibility issues might arise, causing disruptions and additional costs.

In short, while software license management best practices are crucial, it comes with potential challenges. These include complexity, cost overruns, compliance, risk assessment, resource strain, and integration issues. 

Top 10 effective software license management best practices

Here are the top 10 enterprise software license management best practices to help you maximize your software investments.

1. Develop a software license management software policy

Every organization needs a Software License Management software (SLM) policy. This policy should list all approved software, including versions and platforms. It should also note expiration dates and procedures for handling them. 

2. Communicate with management and employees

Once the policy is set, share it with management along with the staff. For successful implementation, both need to understand and follow it. In addition, clearly outline compliance rules and consequences for violations. What’s more, regularly assess network performance and provide training on policy details and approved software.

3. Create a software inventory

Keep a list of all installed software and their usage. Nevertheless, reallocate underused licenses to avoid unnecessary purchases. If software is rarely used, it might need better training or may be outdated.

4. Remove outdated applications

Review your software portfolio annually. Then, uninstall unused or redundant applications for IT cost optimization and boost productivity. This will also improve system functionality.

5. Organize software licensing agreements

Store all software purchase documents along with license agreements in one place. This helps manage licenses, evaluate costs, and track warranties as well. 

6. Conduct regular checks

Regularly compare installed software with licenses to ensure IT regulatory compliance. By all means, automated monitoring systems can produce reports to spot underused or overused licenses.

7. Use the latest approved versions

Ensure workstations have only the latest approved software versions. Later, use automated patch programs to keep systems updated. Software license management software audits should track all versions and facilitate updates.

8. Enforce compliance policies

Remove obsolete software from computers, even when new licensed software is installed. Moreover, maintain a blacklist of prohibited applications. Automated tools can help enforce these policies.

9. Integrate compliance into business strategy

License compliance software can save costs and increase productivity. Being that, integrate it into your broader IT asset management to streamline billing and lower total cost of ownership (TCO). Solutions like Virima offer detailed reporting for this purpose.

Virima’s software license metering capability

10. Adapt to user requirements

With more employees using personal devices, like smartphones and tablets, adjust your software license management software strategy. The “Bring Your Own Device” (BYOD) trend can affect software use and may pose risks if unsupported software is used.

Choosing a software license management partner: Finding the right fit

When selecting a software license management partner, consider their expertise in license management technologies. Even more, look for a partner with a proven IT asset tracking record in your industry.

Also, ensure their solution integrates smoothly with your existing IT infrastructure. In the first place, compatibility is key to avoiding disruptions and inefficiencies.

Then, evaluate the support and customer service they offer. Choose a partner like Virima that provides ongoing support, training, and updates to keep your system effective.

Elevate your software license management with Virima’s robust solutions

Virima helps significantly improve enterprise software license management best practices. Their solutions focus on prioritizing remediation efforts and ensuring an effective IT compliance audit. They also help optimize software asset usage.

1. Virima ITAM tracks and manages software licenses

Virima IT asset management solution tracks and manages software licenses, ensuring compliance and cost savings.

By monitoring compliance, Virima alerts you to potential issues and helps avoid penalties. It also identifies and consolidates unused licenses to cut expenses. Overall, this provides a holistic view of your software assets.

2. ITAM boosts efficiency with automated workflows

Virima’s ITAM automates many license management tasks. As a result, this allows your IT staff to focus on more strategic work. Automated dependency mapping with Virima and service mapping give a clear view of your IT infrastructure. This helps with change impact analysis and decision-making on software changes or upgrades.

3. Flexible IT discovery options for informed decision-making

Virima automatically discovers software and network devices. Furthermore, it provides an up-to-date inventory of IT assets. With both agent-based and agentless discovery methods, you can choose what works best for your environment.

Near real-time updates keep your inventory current. As a result, it helps you make informed decisions about software asset optimization.

4. Centralized software asset information for enhanced operations

Virima centralizes hardware/software asset information in one place. This ensures accuracy and easy access. Additionally, customizable attributes allow you to track relevant data. Moreover, reporting and analytics tools offer insights for better decision-making.

This integrated approach fixes IT operations challenges and reduces errors, enhancing software license management software (SLM) tasks.

5. Software license metering

The Windows Discovery Agent provides precise tracking of software usage, ensuring you have an accurate picture of your license consumption. This helps prevent over-purchasing or under-licensing. During software audits, having detailed records of actual software use lets you dispute any exaggerated claims or errors reported by auditors.

6. Enhanced security and reduced risks

Virima ITAM identifies and addresses security vulnerabilities in your enterprise software license management software. Moreover, it works with security tools to provide a complete view of your IT security posture.

Get through the audit with effective software license management best practices

Implementing a robust software license management process is crucial in today’s complex IT environment. By following the enlisted enterprise software license management best practices, you can build an audit-ready system that brings significant benefits.

Moreover, a well-defined process ensures your data remains accurate and up-to-date. This accuracy lets you make informed decisions about license purchases, upgrades, and terminations, thus maximizing your software investments.

Consider exploring software license management software solutions like Virima. These solutions automate many tasks, freeing up your IT staff’s time and streamlining your processes. By taking a proactive approach, you can fully unlock the potential of your IT environment and help your organization reach its IT goals.

Contact Virima today to discover how their solutions can assist with enterprise software license management best practices and support your organizational objectives.

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