Software Asset Management: Power of Efficiency

As a business leader, you’re always looking for ways to maximize efficiency and minimize cost. Software Asset Management (SAM) is a powerful tool that can help you do just that. In this blog post, I’ll explain what SAM is, its benefits, strategies, and tools.

What is Software Asset Management?

Software Asset Management (SAM) is the process of managing and optimizing software licenses, usage, and maintenance. It helps businesses ensure they are fully compliant with vendor agreements and using the software efficiently. It is an important part of the larger umbrella of Enterprise Asset Management (EAM).

At its core, SAM is about maximizing the value of software asset investments. It entails an understanding of the lifecycle of software assets, from purchasing, to implementation, to maintenance, to decommissioning. SAM is a critical part of any modern business’s operations, as software assets are becoming increasingly important for business success. A good SAM process can reduce spending on licenses and maintenance, improve the efficiency of operations, and reduce the risk of non-compliance.

Benefits of Software Asset Management

The benefits of a successful Software Asset Management program are numerous. The most obvious is cost savings. By having a detailed understanding of your software assets, you can better manage their usage and lifecycle, which can lead to reduced spending on licenses and maintenance. A good SAM program can also improve efficiency. By having a better understanding of usage patterns, you can identify areas where software can be used more effectively. This can lead to improved operations, productivity, and customer satisfaction.

SAM can also help reduce the risk of non-compliance. By closely monitoring usage, you can ensure that all users are abiding by vendor agreements. This can help protect your business from costly fines and other penalties. Finally, SAM can help you make better decisions about future investments. By having a comprehensive understanding of your current software assets, you can make informed decisions about which products and services to invest in. This can help ensure that you’re investing in the right products and services for your business.

Software Strategies

Now that you understand the benefits of Software Asset Management, let’s take action and implement an effective SAM program.

First, create a comprehensive inventory of your software assets, including all software licenses, hardware and maintenance contracts. This inventory will serve as the foundation of your SAM program, so make sure to keep it up-to-date and accurate. Next, track and manage software usage. This process should include monitoring usage and enforcing compliance with vendor agreements. This step is crucial as non-compliance can result in significant costs.

Additionally, manage software licenses. Understand when licenses need to be renewed and purchase the necessary number of licenses to avoid overspending. Lastly, decommission software assets that are no longer needed. This can prevent wasting money on unused software assets. Overall, by implementing these strategies you can ensure effective and efficient management of your software assets.

Software Asset Management Tools

To effectively manage and optimize your software assets, consider using software asset management tools. These tools come in different forms and offer various features, so select the one that best suits your needs. For example, Enterprise Asset Management (EAM) software can provide valuable insights into usage patterns and help identify non-compliance issues.

Additionally, an automated enterprise asset management software (SAM) tool can automate manual processes and provide detailed reports. Lastly, open source options exist as well, which can be a cost-effective solution for businesses just starting with SAM. These tools can be tailored to meet the specific needs of your business:

1. Flexera Software Asset Manager: Automate software license compliance and optimize software spend with this tool.
2. Snow Software: Gain visibility into software usage and manage licenses with this tool.
3. Aspera SmartTrack: Automate license management and track software usage and compliance with this tool.
4. Microsoft System Center: Manage software assets and ensure compliance with Microsoft licensing agreements using this tool.
5. OpenAudIT: Track hardware and software assets in a network environment with this open-source software asset management solution.
6. OCS Inventory NG: Track hardware and software assets in a network environment using this open-source software inventory management solution.
7. ServiceNow: Automate software asset management and track software licenses throughout their lifecycle using this tool.

Please note that this list is not exhaustive and there are many other tools available in the market. It’s important to evaluate the features and capabilities of the enterprise asset management software that best suit the needs of your organization.

Conclusion

Software Asset Management is an essential part of any modern business. It can help reduce spending on licenses and maintenance, improve efficiency, reduce the risk of non-compliance, and help make better decisions about future investments. There are a number of strategies and tools available to help you implement an effective SAM program.

Now that you understand the basics of SAM, you can begin to implement a successful program for your business. With the right strategies and tools, you can unlock the power of efficiency and maximize the value of your software assets.