Software Asset Management (SAM): Software is undoubtedly one of the most essential assets to keep evolving and allow organisations to be competitive. However, the use of software is not without risk, and these risks can compromise data security and the economic viability of the business.
As a result, many organisations are realising the true cost of inadequate software management and are investing in Software Asset Management (SAM) tools to protect themselves and their bottom line.
SAM can serve many different functions within organisations, depending on their software portfolios, IT infrastructures, resource availability and business objectives.
Vision for Software Asset Management in enterprises
For many enterprises, implementing a Software Asset Management (SAM) tool is very tactical in nature, focused specifically on balancing the number of software licenses purchased with the number of actual licenses consumed or used.
However, SAM is much more than that. Software Asset Management is effective in ensuring that the usage of all installed software conforms to the terms and conditions of the vendor’s specific licence agreement. By doing so, organisations can minimise the liabilities associated with software piracy in the event of an audit by a software vendor or third party.
Benefits of having Software Asset Management (SAM) in place
- Diagnose unlicensed or out-of-date software usage
- Increased security
- Reduced security risks
- Savings on software acquisition
- Reduced analysis and control time
- Improved productivity
- Efficient asset management
- Ensure compliance with laws and regulations
- Better positioned to negotiate licensing contracts
Software Asset Management (SAM)
Software inventory management deals with the management of existing licences and the tracking of actually licensed software packages. It verifies whether the company has to purchase additional licenses and determines the existence of under-utilised licenses.
Importance of the software asset lifecycle
The asset lifecycle is vital to know exactly what assets the company has. This will allow you to know the status of each asset, i.e. how many, and when they need to be updated, how many need to be maintained. And as a consequence plan costs.
Without a centrally organised and formalised IT asset management programme, companies face considerable risk. Concerns about inefficient cost control practices and increasing regulations only add to the pressure of day-to-day business. The result has been that companies are increasingly choosing to take on IT asset management projects.