How Can Software License Management Benefit My Business?

How Can Software License Management Benefit My Business?

Your business likely relies on significantly more software programs than it did even a decade ago, and making sure you are consistently using these programs correctly is a must in order to avoid steep fines and ensure that you continue to be allowed to use them. Software companies set strict rules when determining what they consider to be an acceptable use of that software, and businesses that do not adhere to these guidelines may experience penalties that have the potential to significantly interrupt the day-to-day operations of their business.

Partnering with a software license management professional is an important step in ensuring that you are using all of your business’s software properly, and your software license management professional can also benefit your business in a variety of other ways. Here is an overview of what software license management is and how it can benefit your business!

What Is Software License Management?

Software license management, also known as SLM, involves keeping track of a wide variety of data surrounding the various software programs your company uses. Although it is primarily used to manage details that are specifically related to your software, it can also have several indirect positive effects on the overall organization and efficiency of your company. IT teams use this data to draw a variety of conclusions surrounding the overall compliance and efficiency of your software, which can be used to make adjustments to your business.

Why Is Software License Management Important for My Business?

Investing in a quality software license management professional can have a wide range of benefits for businesses of any size. Here are some of the most significant advantages of selecting a software license management professional for your business!

Track License Lifecycles of Essential Software Investments

Many software programs will not last forever and may eventually become obsolete as they are replaced by newer products. Similarly, your software license is not always intended to last for the entire lifecycle of the product and may need to be adjusted periodically to reflect software updates, new developments within your industry, and other changes that may affect your use of your software and the terms of your software license. Although minor updates to your less frequently used software programs may not always be immediately necessary when it comes to keeping your business running according to your software creators’ guidelines, keeping track of any adjustments to your essential software is crucial to prevent inadvertently losing access to your software.

Track Your Investments

Although not all small businesses may need the same level of assistance keeping track of their software programs as their larger counterparts, many large businesses utilize hundreds or even thousands of software programs. Tracking what software programs your business owns, what each program is used for, and other relevant details surrounding your business’s software programs gives you an at-a-glance look at where your money is going and which investments are giving your company a reasonable ROI.

Lower Your Software Costs

Having a thorough understanding of what software programs your business is using and how much each program costs each month and year gives you the opportunity to carefully consider which programs your business actually needs and which ones you are not getting enough use out of to be worth the money. Your software license management professional neatly organizes your business’s software programs, which can number into the hundreds or even thousands for large companies, which makes it convenient to periodically go through the list and identify programs that are not serving a strong enough purpose for your business.

By identifying programs that have very similar functions or are not being used at all, you can identify ways to consolidate or eliminate software programs that are not needed. By only keeping and continuing to pay for programs your business is getting an adequate amount of use out of, you can adjust your budget to add new software that interests you or reallocate the money you are spending on software to other aspects of improving your business.

Prepare for Software Audits

Purchasing a software program does not mean you are allowed to use the software however you want to, and each software license your company has outlines the uses the software creator considers to be acceptable. Because the software creator still owns the rights to the software itself and you have only purchased the right to use it according to the creator’s guidelines, that company may audit your company’s use of its software to ensure proper compliance with the terms stated in your software license. Your software license management program helps you ensure that your business is prepared for this audit by monitoring and tracking your software usage to protect your company against any potential claims surrounding the use of your software.

Increase Your Cyber Security Measures

Your business is likely comprised of several types of software that were released at different times and have different update schedules, and keeping track of which programs may be nearing the end of their current version or about to be replaced by a newer program altogether helps your business stay on top of which programs may need attention in the near future to keep your business’s computers and software as secure as possible.

Older software that has not been updated recently or is no longer having updates released at all can leave certain aspects of your business especially vulnerable to cyber attacks. Your software license management professional makes it easier to keep track of which software programs are the most likely to need to be updated or replaced in the near future to ensure that your software and digital assets are adequately protected.

At Centerpoint IT, we prioritize helping our clients ensure that their software use meets the regulations set by the creators of that software. By partnering with us for all your software license management needs, you can ensure that your business properly adheres to your software licensing requirements, as well as increase your overall cyber security measures and organization of your digital assets. Contact us today to schedule a conversation with us to go over specific ways partnering with our software licensing professionals can benefit your business!