What is License Management Software?

Organizations today, of any size, use a wide variety of software according to their business needs. Almost all software has some kind of license for an expensive enterprise suite or complex data center ecosystem. Therefore, it is critical for organizations to manage the licenses of these software applications. The most important step in license management is to understand the contractual terms regarding the type of licenses for an organization's existing software.

What is License Management?

A Software License is a legal document produced by publishers or distributors of software or that provides rules and guidelines for the use and distribution of software, and generally includes terms and conditions, restrictions, limitations, and disclaimers. License Management is the process of monitoring and maintaining licenses of an organization's existing software.

License Management is part of Software Asset Management and includes tracking, documenting and auditing software licenses to understand where and how the software is used within the organization.

What are the Advantages of License Management?

Having software licenses under control for an organization means reducing, documenting and controlling total IT costs. License Management is the process of tracking all license purchases and ensuring that each software is used. However, License Management plays a critical role in monitoring End User License Agreement (EULA) compliance. As a result, managing and monitoring software licenses for organizations provide many benefits to the organization.

EULA Management

Mismanagement of software licenses causes great harm. Therefore, before purchasing or renewing a new software license, it is necessary to know the basic terms specified in the End User License Agreement (EULA) agreement. This helps organizations minimize risk and ensure the correct use of software within the organization.

Risk Management

License Management allows organizations to have a clear and unified view of licenses and their distribution across solutions and vendors. Using this information, organizations can interpret the data they need to manage risk and stay compliant as software is consumed across the enterprise.

Software Asset Management

License Management provides information on how each purchased license benefits the organization, whether it is being used effectively and whether it should be disposed of. This information should be considered when purchasing a new license or renewing an existing license. Based on this information, a license pool can be created and IT teams can more efficiently respond to employee license requests by combining existing licenses into a pool. This means faster completion of existing projects.

Correct Use of Software

If organizations are not aware of how effectively software licenses are used after the purchase, they will continue to pay for inactive software. With the information that License Management provides to organizations about where the non-compliance is, costs are saved by only paying for the licenses that are required.

Why is License Management Important for Organizations?

All organizations accept the license agreement provided by the software publishers when purchasing software and undertake to comply with these rules and regulations when using the software. Software publishers regularly audit their users' environments to detect, monitor and prevent piracy, copyright infringement and illegal use. If a business fails one of these audits, it will damage its reputation, heavy fines and legal action. That's why organizations must always ensure compliance to avoid the consequences of compliance audit failures. Adopting License Management helps organizations successfully complete their compliance audit. Using a License Management Software accompanies organizations in managing the License Management process and alleviates the responsibility of the organization.

What is License Management Software?

License Management Software, in its simplest definition, is a business solution developed to control the licenses of software products owned by an organization from a single platform. With the License Management Software, organizations get information about the expiration date, over-use or under-use of a software's license. However, License Management Software helps organizations comply with End User License Agreements (EULA).

License Management Software sets out the contract details and features that govern software licenses, how the software can be used, and how the software provider will be compensated. An effective License Management Software monitors purchases, license renewals, licenses consumed and helps the organization avoid software licenses and the penalties that accompany compliance violations.

Benefits of Using License Management Software

Using License Management Software is a critical element of organizations' IT Asset Management. In addition to the above benefits, License Management Software is essential for cybersecurity efforts, overall IT management, and maximizing the business value of IT assets. Using License Management Software is a critical issue that provides many benefits for organizations.

• Cost Management

Most software tends to purchase extra licenses that are usually designed to guarantee usability but are often unused. License Management Software has been developed to prevent the cost and difficulties of quickly obtaining and distributing the necessary license to correct the deficiency when a deficiency is discovered. Thus, it saves the organization from unnecessary costs by helping the organization obtain the license it really needs.

• Reliable compliance and audit protection

License Management software allows the organization to view existing software licenses through a single platform. In this way, organizations can protect themselves against the challenges of license compliance and save on the costs associated with these challenges.

• Better cybersecurity

Fraudulent or unlicensed software and outdated versions of software with outdated security are breeding grounds for ransomware and other malware. Using License Management Software allows organizations to identify unauthorized and poorly protected software in their software assets and increases cybersecurity by reducing risks.

• More agility

Combining multiple software within the organization and keeping legacy software versions working gets in trouble for limited IT resources. License Management Software helps the organization identify and retire existing versions and focus IT resources on current versions.

Loggle is an IT Asset Management Software that allows organizations to manage their licenses and all other IT asset management processes from a single screen. With Loggle, organizations monitor their available software on a single screen and can make predictions about future software purchases. For more information about Loggle, please contact us.