Four Important Features of A Software Asset Management Tool

Most businesses look for an automated software discovery tool that can automatically detect all software registered on the company network as it provides accurate record-keeping and decreases manual data entry hours substantially.

FREMONT, CA: Software asset management in the IT Industry comprises of different types of tasks, including investment of knowledge, time, and capital. It focuses on maintaining an ideal balance of licensed software assets and monitoring their usage from acquisition time to their disposal. This significantly aids in asset enhancement as the company grows in size.

To make the right decision when purchasing a software management tool, it is essential to understand the business' needs and implement a proper solution. Here are four important features to look for when purchasing a software asset management tool for businesses:

Depreciation Management for Tax Accounting

A proper software asset management tool can track software programs' activity from buying to disposal so that companies can reduce them by usage and reduce ownership costs.

Access Control to Prevent Security Breaches

Cybersecurity is a major concern when it comes to IT assets. Business software often contains sensitive information that could negatively impact a company's reputation if misused. Implementing a robust, reliable software asset management tool can help firms define user roles by creating password-protected access that can control who logs into the system and for what purpose.

Software Discovery for Accurate Details

Most businesses look for an automated software discovery tool that can automatically detect all software registered on the company network. It provides accurate record-keeping and decreases manual data entry hours substantially. Software discovery also shows and updates new installations to initiate their licenses in time.

Inventory Catalogs for Streamlined Procurement

Detailed inventory cataloging is fundamental in software asset management since software tools need to be documented. Companies risk spending more money or procuring duplicate/ unused licenses without proper insight into the software asset base.

A robust software asset management tool removes such data lapses and records all the devices and tools working on the company network so that essential details are not missed out. It also reveals software applications installed in every device that users may have lost track of.

Such automated data updates help in procurement decisions by checking if any licenses are not used and remove them instead of blindly spending money on them.