{"id":22147,"date":"2022-09-08T11:20:50","date_gmt":"2022-09-08T11:20:50","guid":{"rendered":"https:\/\/www.potential.com\/?p=22147"},"modified":"2022-09-08T11:23:29","modified_gmt":"2022-09-08T11:23:29","slug":"license-tracking-software-for-your-software-management-license","status":"publish","type":"post","link":"https:\/\/www.potential.com\/articles\/license-tracking-software-for-your-software-management-license\/","title":{"rendered":"License tracking software for your software management license"},"content":{"rendered":"

Today\u2019s software landscape is fragmented and dynamic. As a result, software license management (SLM) is a challenging task for most organizations. SLM helps you manage your software licenses more efficiently by assigning software licenses to specific users, devices, or services; monitoring usage in real-time, and auditing to identify unused licenses.
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In the 21st century, businesses are increasingly<\/a> adopting virtual work environments in order to reduce operational costs and drive efficiency. Virtual desktops reduce hardware expenses and improve worker mobility by allowing employees to access applications from anywhere with an internet connection.
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However, this pivot toward virtualization has also introduced new challenges for IT departments tasked with managing software licenses across multiple locations. It is estimated that 29% of SaaS software is underutilized.
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In this blog post, we will explore eight ways that effective Software License Management can reduce costs in your organization as well as any other company looking to optimize their operations.
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What is software license management?
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SLM is the process of managing software licenses across an organization, including tracking existing software licenses, identifying which devices or users require licenses, and accurately tracking the amount of time each user is spending with each licensed application.
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The process of managing software licenses initially started with a focus on tracking the number of licenses installed on physical devices across an organization. Today, organizations increasingly manage software licenses in the cloud, across hybrid environments that include a mix of both on-premises and cloud applications.
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In the cloud, software licenses are often managed through a SaaS service that tracks cloud application usage and automatically removes licenses from users who have stopped using them for a specified period of time.
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Importance of software license management
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Organizations face the risk of high penalties, audits, and reputational damage when they do not properly license and track software usage. The failure to license and track software usage can lead to fines of up to $100,000 per application.
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To avoid these penalties, organizations of all sizes need to carefully track their software licenses and usage. Beyond the regulatory risk, organizations can also save money by implementing effective SLM. On average, companies overspend on software by 38%, which can add up to millions of dollars for large enterprises.
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