What is License Management Software?
License Management Software is used to help organizations ensure software license compliance and to monitor and control software use.
License management software helps with:
- license monitoring (i.e., usage monitoring, compliance with vendor regulations, licenses purchased within an organization)
- budgeting (i.e., how much of a product is being utilized), and
- to help reduce cybersecurity risks like malware, viruses, network and data breaches, and so on
Businesses can track how much of what kind of software is being utilized to determine appropriate compensation arrangements with vendors.
License management software features
License management tools should help:
- Manage information regarding purchased licenses, such as expiration and renewal dates
- Ensure compliance and adherence to policies
- Reporting and analytics on product usage and license performance