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Top 4 Ways for Best Software Asset Management

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Top 4 Ways for Best Software Asset Management: Globally, the market for the management of software assets by business organizations is set to reach billions of dollars within a few short years. However, experts predict that the lack of awareness among small and medium-sized enterprises and their restricted budgets remain two of the most common reasons that restrict organizations from adopting ideal software asset management techniques. 

Top 4 Ways for Best Software Asset Management

Below, we have attempted to explain the best ways that enterprises can adopt the most effective management practices for software assets that are in use by a business organization. However, it is important to remember that software management differs from inventory management and configuration management. 

Ideal Solutions for Software Asset Management

Here’s the list of the top tips for effective software asset management practices:

1 – Senior Management’s Support

First and foremost, make sure that the senior-most SAM leader is at least a C-level executive. This ensures that stakeholders and key figures in the organization’s hierarchy are well-informed of your enterprise’s SAM strategy. Many times, team leaders from different departments do not always understand the importance of creating a separate program for SAM. Hence, having the support of senior management in creating a separate SAM strategy helps to ensure compliance and cost-savings.

2 – Select the Right Tool

There are several tools available that make SAM easier for a business organization. Finding the best-suited SAM tool for your specific needs can be difficult at times. Before choosing the right tool, make sure to keep the below points in mind:

  • Scalability – Make sure that the SAM tool allows smooth service and support according to the organization’s growth rate. It should be scalable enough to operate across multi-cloud platforms. 
  • Flexibility – Ensure that the tool is easy to customize. It should be easy to integrate with existing IT applications in your organization. 
  • Discovery – The SAM tool should have a powerful feature to discover all software assets used by your organization. It should be able to detect and enlist virtual and mobile software and should be easy to deploy. 
  • Management – It should be optimal when it comes to software license management. It should cover license optimization, remind about expiring contracts, recycle and manage audit requests from vendors. 
  • Reporting – The SAM tool should be able to measure operations and financial aspects of your SAM program. It should help SAM executives to derive insights and make feasible decisions. 

3 – Making a SAM Team

Great technology requires great skills to be effective. Despite having the latest and most expensive technology, there is no guarantee that it will help solve your problems unless and until people with the right skills and experience are responsible for using it. 

The main aim of any successful SAM strategy is to optimize IT expenses and minimize the risk of penalty from non-compliance. This requires a team of extremely skilled and expert members who are adept at understanding end-user license terms and conditions successfully and ensuring that the organization works within the agreed parameters. 

4 – Evaluating Effective SAM Strategies

It is essential to create parameters that can help to measure the success of existing SAM strategies. Some of the major points that need to be included as success parameters of SAM programs are:

  • The number of software products that are in use
  • The total number of used and unused software licenses with the organization 
  • The monetary value of a license that the SAM team renews regularly 

These 4 main steps will ensure that your enterprise not only complies with software compliance terms but also guarantee that your organization utilizes software packages to the optimum. 

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