Software License Management: A Guide to Saving Money

Software License Management: A Guide to Saving Money

Software license management plays a crucial role in optimizing costs for organizations. By effectively managing software licenses, businesses can identify cost-saving opportunities, avoid unnecessary expenses, and ensure compliance with licensing agreements.

Here are some strategies for software license management that can help achieve cost savings:

Inventory and Assessment:

Start by conducting a comprehensive inventory of all software licenses across your organization. This will help you understand what software is being used, who is using it, and whether it aligns with your business needs. Perform a thorough assessment to identify any unused or underutilized licenses that can be reallocated or canceled.

License Consolidation:

Look for opportunities to consolidate software licenses. Evaluate if multiple software applications with similar functionality can be replaced by a single integrated solution. Consolidating licenses can reduce costs and simplify license management.

License Optimization:

Analyze your software usage patterns to determine if you can optimize licenses further. Some software vendors offer flexible licensing models based on actual usage, such as concurrent or named user licenses. Consider switching to such models if they align better with your organization’s usage patterns, as it can lead to significant cost savings.

License Compliance:

Ensure that your organization remains compliant with software licensing agreements. Unauthorized or unlicensed software can result in financial penalties and legal issues. Implement robust license tracking and monitoring processes to avoid any compliance violations.

Renewal Management:

Stay proactive with software license renewals. Keep track of renewal dates and negotiate with vendors to secure favorable terms and pricing. Sometimes, vendors offer discounts or incentives for early renewals or longer-term agreements. Also, reassess your software needs before renewing licenses to avoid renewing unnecessary licenses.

Vendor Negotiation:

Don’t hesitate to negotiate with software vendors for better pricing and licensing terms. Research alternative vendors and their offerings to have leverage during negotiations. Additionally, consider exploring volume licensing agreements or enterprise agreements, which can provide cost advantages for large-scale deployments.

Cloud and Subscription Models:

Evaluate the feasibility of cloud-based software solutions or subscription models instead of traditional on-premises licenses. These models often offer flexibility, scalability, and cost savings, as you pay only for what you use.

Employee Awareness and Training:

Educate your employees about software license compliance and the importance of adhering to licensing policies. Establish clear guidelines and processes for requesting software, and ensure employees understand the implications of unauthorized software installations.

Software Asset Management Tools:

Consider implementing software asset management (SAM) tools to automate license tracking, software usage monitoring, and compliance management. SAM tools can streamline license management processes, provide accurate data, and facilitate cost-saving decisions.

Regular Audits and Reviews:

Conduct regular audits and reviews of your software license management practices. Periodically reassess your software needs, evaluate license usage, and identify further opportunities for cost optimization.

By implementing these strategies and maintaining a proactive approach to software license management, organizations can achieve significant cost savings while ensuring compliance and maximizing the value of their software investments.

Learn how you can maximize cost savings with Cubes: HERE

software license management

License Management Software for Effective Software Asset Management

Software asset management (SAM) is a critical practice for businesses of all sizes. It involves managing and optimizing software assets to ensure compliance, reduce costs, and enhance operational efficiency. However, manual license tracking and compliance can be complex and time-consuming, leading to significant challenges for organizations. This is where license management software comes into play, providing a comprehensive solution to automate and streamline the license management process. In this blog, we will explore the importance of license management software and its benefits in achieving effective software asset management.

Challenges of Manual License Tracking and Compliance: Managing software licenses manually poses several challenges. It requires constant monitoring of licenses, spreadsheets, and documentation, making it prone to human error and inefficiency. Tracking license usage, maintaining compliance, and responding to audits become overwhelming tasks that divert valuable resources from core business operations. Organizations often struggle to accurately account for licenses, leading to overspending on unnecessary licenses or facing penalties for non-compliance.

Automating License Tracking and Management: License management software offers a robust solution to automate and streamline license tracking and management processes. By centralizing license data, it provides real-time visibility into license usage, entitlements, and compliance status. It eliminates manual data entry and spreadsheet management, reducing the risk of errors and increasing operational efficiency. License management software integrates with various software systems and automatically captures license usage data, simplifying the process of monitoring license allocations and ensuring compliance.

Benefits of Using License Management Software:

  1. Cost Savings: License management software enables organizations to optimize their license usage, identifying underutilized licenses and reallocating them where needed. By avoiding unnecessary license purchases and maximizing license utilization, businesses can achieve significant cost savings.
  2. License Optimization: With license management software, organizations gain insights into license usage patterns, enabling them to make informed decisions regarding license procurement and renewal. By identifying opportunities for consolidation or adopting more cost-effective licensing models, businesses can optimize their license investments.
  3. Compliance Assurance: License management software automates compliance monitoring and reporting, ensuring organizations stay in adherence to license agreements and regulatory requirements. It provides alerts and notifications for license expirations, enabling proactive action to avoid compliance risks and penalties.
  4. Reduced Risk of Audits: License management software provides accurate and up-to-date license records, making audits smoother and less time-consuming. It eliminates the anxiety of audits by providing comprehensive license reports, usage histories, and compliance documentation.

Key Features to Look for in License Management Software: When selecting license management software, consider the following key features:

  • License tracking and monitoring
  • Centralized license repository
  • License usage analysis and optimization
  • Reporting and analytics capabilities
  • Contract management and renewal tracking
  • Compliance management and notifications
  • Integration with existing systems, such as software inventory tools and IT service management platforms.

License management software plays a pivotal role in effective software asset management.

By automating license tracking, optimizing license usage, ensuring compliance, and reducing audit risks, it helps organizations save costs, increase operational efficiency, and maintain software license compliance. As businesses strive to streamline their operations and maximize their investments, implementing robust license management software becomes an essential step towards achieving comprehensive software asset management.

Visit: Cubes to learn about our license management software.

Manage Your Company’s Software and Subscriptions from One Place: Cubes, License Manager

Keep track of your company’s software and subscriptions with Cubes, the comprehensive software license manager. Streamline your operations with ease!

As a business owner or IT administrator, you know how difficult it can be to keep track of all the software and subscriptions your company uses. From licenses to renewals, it can quickly become overwhelming. That’s where Cubes comes in – a comprehensive software license manager that helps you manage all your company’s software and subscriptions in one place. In this article, we’ll explore the benefits of using Cubes and how it can streamline your operations.

What is a Software License Manager?

A software license manager is a tool that helps businesses manage their software licenses and subscriptions. It allows you to keep track of all the licenses and subscriptions you have, when they expire, and when you need to renew them. A license manager can help you save time and money by ensuring you’re not paying for licenses you don’t need and by avoiding penalties for using expired licenses.

What is Cubes?

Cubes is a comprehensive software license manager that can help your business manage all your software licenses and subscriptions in one place. It provides a centralized dashboard where you can view all your licenses and subscriptions, including their status, expiration dates, and renewal information. Cubes also provides detailed reports on license usage, which can help you optimize your software spend and avoid unnecessary costs.

How Cubes Can Benefit Your Business

  1. Centralized Management

One of the biggest benefits of using Cubes is that it provides centralized management of all your software licenses and subscriptions. You no longer have to search through different systems or spreadsheets to find the information you need. Cubes provides a single dashboard where you can view all your licenses and subscriptions, making it easy to manage and track them.

  1. Automated Renewals

Cubes can also help you automate the renewal process for your licenses and subscriptions. It sends you reminders when a license or subscription is about to expire, and it can even automatically renew them for you if you choose. This helps you avoid any gaps in your software coverage and ensures that your business is always up to date with the latest software.

  1. Detailed Reporting

Cubes provides detailed reporting on license usage, which can help you optimize your software spend. It shows you which licenses are being used the most and which ones are not being used at all. This can help you make informed decisions about which licenses to renew or cancel, saving you money in the process.

  1. Cost Savings

Using Cubes can help your business save money by ensuring you’re not paying for licenses you don’t need and by avoiding penalties for using expired licenses. It also helps you optimize your software spend by identifying which licenses are being underutilized and which ones can be canceled or downgraded.

How to Get Started with Our License Manager, Cubes

Getting started with Cubes is easy. Simply sign up for an account, and you can start adding your licenses and subscriptions right away. Cubes also offers a free trial, so you can test it out and see if it’s right for your business before you commit. Visit: https://softwarelicensemanagement.tangent.com/solutions/workplace-solutions/cubes

Managing software licenses and subscriptions can be a challenging task for any business, but it doesn’t have to be. Cubes provides a comprehensive software license manager that can help you manage all your licenses and subscriptions in one place. With centralized management, automated renewals, detailed reporting, and cost savings, Cubes is a must-have tool for any business that wants to streamline its operations and optimize its software spend.

Stay on Top of All Your Subscription Payments with a Software License Manager

A software license manager helps you manage your subscription payments and stay on top of all your licenses. Learn more about this tool and its benefits.

As businesses and individuals increasingly rely on software for their daily operations, managing software licenses and subscription payments can become a tedious and time-consuming task. Failure to manage licenses properly can result in overspending, compliance issues, and even legal action. That’s where a software license manager comes in. In this article, we will discuss what a software license manager is, how it works, and its benefits.

What is a Software License Manager?

A software license manager is a tool that helps individuals and organizations manage software licenses and subscriptions. It enables users to monitor, track, and control the licenses and subscriptions they have acquired. With a software license manager, users can determine the number of licenses they own, how they are being used, and when they are due for renewal.

How Does a Software License Manager Work?

software license manager works by centralizing the management of software licenses and subscriptions. It collects license information from various sources, such as purchase orders, invoices, and contracts, and stores it in a centralized database. Users can access this information through a user interface that provides them with a clear overview of their licenses, including license expiration dates, usage, and renewal costs.

Stay on top of All Your Subscription Payments

A software license manager helps users stay on top of their subscription payments by providing a clear overview of all their licenses and when they are due for renewal. Users can set up notifications and alerts for upcoming renewals, ensuring that they do not miss any payments. By automating the license renewal process, a software license manager removes the need for manual tracking, reducing the risk of missed payments and potential license expiration. This enables users to manage their subscription payments more efficiently, freeing up time for other important tasks. With a software license manager, users can rest assured that they are always up to date with their subscription payments, minimizing the risk of non-compliance and legal issues.

Benefits of Using a Software License Manager

  1. Cost Savings: A software license manager can help users save money by preventing overspending on software licenses and subscriptions. By tracking license usage, users can identify licenses that are not being used and revoke them, eliminating unnecessary costs.
  2. Compliance: Compliance with software licensing agreements is crucial, as non-compliance can lead to legal action and hefty fines. A software license manager ensures that users are aware of their licensing agreements and are using software within the agreed terms.
  3. Better Resource Management: By providing users with an overview of their licenses, a software license manager enables them to allocate resources more effectively. Users can determine which licenses are being used most frequently and allocate resources accordingly.
  4. Improved Efficiency: Manually tracking licenses and subscriptions can be a time-consuming task. A software license manager automates this process, freeing up time for more important tasks.

Choosing the Right Software License Manager

When choosing a software license manager, users should consider the following factors:

  • Compatibility: The software license manager should be compatible with the software and applications being used.
  • Scalability: The software license manager should be scalable to accommodate future growth.
  • User Interface: The user interface should be user-friendly and easy to navigate.
  • Support: The software license manager should have reliable customer support to address any issues that may arise.

Conclusion

Managing software licenses and subscriptions is an essential task for businesses and individuals. A software license manager can help streamline this process, providing users with an overview of their licenses and enabling them to manage them effectively. By preventing overspending, ensuring compliance, and improving resource management and efficiency, a software license manager is an invaluable tool for any organization or individual that relies on software. When choosing a software license manager, users should consider compatibility, scalability, user interface, and support to ensure they select the right tool for their needs.

Cut Business Expenses with a Software License Manager

Discover how a software license manager can help your business save money and optimize your software usage. Learn more about its benefits here.

What is a Software License Manager?

software license manager is a tool that helps businesses track and manage their software licenses. It provides an efficient way of managing licenses and helps businesses stay compliant with licensing regulations.

How Does a Software License Manager Help Cut Business Expenses?

By using a software license manager, businesses can cut their expenses in various ways. Here are some of the benefits of using a software license manager:

Avoid Overbuying Licenses: One of the most significant benefits of using a software license manager is that it helps businesses avoid overbuying licenses. It provides real-time information on license usage, allowing businesses to see which licenses are being used and which ones are not. This information helps businesses make informed decisions about purchasing new licenses, reducing unnecessary expenses.

Eliminate Manual Tracking: Manual tracking of software licenses is time-consuming and error-prone. A software license manager eliminates the need for manual tracking, reducing the risk of errors and saving time. This helps businesses avoid costly penalties for non-compliance with licensing regulations.

Reduce Audit Costs: A software license manager provides businesses with accurate information on software usage, making it easier to prepare for software license audits. This reduces the risk of non-compliance and lowers the costs associated with audits.

Optimize Software Usage: By providing real-time information on software usage, a software license manager helps businesses optimize their software usage. It helps businesses identify which licenses are underutilized, allowing them to reassign licenses to where they are needed. This helps businesses avoid unnecessary expenses while ensuring that they have the right licenses for their needs.

What Features Should You Look for in a Software License Manager?

When choosing a software license manager, there are several features that businesses should look for:

Automated Tracking: The software license manager should provide automated tracking of software licenses, eliminating the need for manual tracking.

Real-Time Reporting: The software license manager should provide real-time reporting on license usage, making it easy to identify underutilized licenses.

License Optimization: The software license manager should provide license optimization features, allowing businesses to reassign licenses to where they are needed.

License Compliance: The software license manager should help businesses stay compliant with licensing regulations, reducing the risk of costly penalties.

A software license manager is an essential tool for businesses that want to cut their expenses and optimize their software usage. By providing real-time information on license usage, eliminating manual tracking, and helping businesses stay compliant with licensing regulations, a software license manager can help businesses save money and improve their operations. When choosing a software license manager, businesses should look for features such as automated tracking, real-time reporting, license optimization, and license compliance.

Request a free demo: https://softwarelicensemanagement.tangent.com/solutions/workplace-solutions/cubes

software license manager and subscription manager

The Difference between a Subscription Manager and a Full Software License Manager

Do you know what truly sets a software license manager apart from a subscription manager?”

A software license manager and a subscription manager may seem like similar entities, but in reality, they serve distinct purposes. A quote from Michael Feiner, a renowned management expert, puts it perfectly: 

“Good managers know how to delegate; great managers know when to delegate.” 

The same applies to software license and subscription managers – understanding the difference between them can make the difference between effective software management and costly software chaos.

So, what is a software license manager? Simply put, it is a tool that helps organizations manage and track the use of software licenses they have purchased. It ensures that only the authorized number of users can access the software and that the licenses are used in compliance with the terms and conditions set by the software vendor.

On the other hand, a subscription manager is a tool that helps organizations manage their software subscriptions. It allows organizations to keep track of the subscriptions they have taken and their renewal dates, as well as manage the subscription costs effectively.

Difference between a software license manager and a subscription manager

The difference between a software license manager and a subscription manager lies in their focus. While a software license manager focuses on the use of the licenses, a subscription manager focuses on the management of the subscriptions. A software license manager ensures that the licenses are used within the bounds set by the vendor, while a subscription manager ensures that the subscriptions are managed efficiently and cost-effectively.

The role of a software license manager is to monitor and enforce the use of software licenses within an organization. It ensures that only the authorized number of users can access the software and that the licenses are used in compliance with the terms and conditions set by the software vendor. A software license manager also helps organizations track the usage of the licenses, which can be useful in making informed decisions about purchasing additional licenses or upgrading existing ones.

The role of a subscription manager is to manage software subscriptions effectively. It helps organizations keep track of the subscriptions they have taken and their renewal dates, as well as manage the subscription costs effectively. A subscription manager also helps organizations make informed decisions about renewing or cancelling subscriptions based on usage patterns and costs.

Conclusions

In conclusion, a software license manager and a subscription manager serve distinct but complementary purposes. While a software license manager focuses on the use of the licenses, a subscription manager focuses on the management of the subscriptions. Understanding the difference between them can help organizations make informed decisions about software management and avoid costly software chaos.

“Are you ready to take your software management to the next level by understanding the difference between a software license manager and a subscription manager?”

software license manager

How Big Companies Manage All Their Software Licenses

Have you ever stopped to think about the sheer number of software licenses a large company might have to manage? With hundreds, if not thousands of employees, each with their own devices, programs and applications, the task of keeping track of software licenses is a complex one. 

According to a recent survey, the average cost of a software license for a large company is around $100 per license. This might not sound like a lot, but with the sheer number of licenses a company might have, this cost quickly adds up. In addition to the cost of acquiring the license, there are also ongoing costs associated with maintaining the license, such as upgrades, support and renewal fees. These costs can run into the millions of dollars each year.

But why is it so important for businesses to keep track of their software licenses? 

There are a few key reasons:

Compliance: In order to comply with licensing agreements, a company needs to know exactly how many licenses they have, and for which programs. This information helps to ensure that the company is using software in the way that is permitted by the licensing agreement.

Legal implications: Not keeping track of software licenses can result in legal implications for a company. For example, if a company is found to be using software that they do not have the correct licenses for, they can be sued for copyright infringement.

Audits: Software vendors can conduct audits at any time to check that their software is being used in accordance with the licensing agreement. If a company is found to be using software without the correct licenses, they can be fined, or even have their license revoked.

So, How Do Big Companies Manage All Their Software Licenses? 

One solution is to use a software license manager.

A software license manager is a tool that helps companies to keep track of their software licenses. It can help to keep track of the number of licenses a company has, the programs they are licensed for, and when they need to be renewed. It can also help to manage the cost of licenses, by keeping track of how much each license costs, and when it needs to be renewed.

A software license manager can also help to ensure compliance by checking that the company is using software in the way that is permitted by the licensing agreement. It can also help to prevent legal implications by ensuring that the company is using software in accordance with the licensing agreement.

One of the biggest advantages of using a software license manager is that it can help to automate many of the manual tasks associated with managing software licenses. For example, it can help to keep track of when licenses need to be renewed, and send reminders to the relevant departments. This can help to avoid the cost and disruption associated with license renewals.

Closing words

In conclusion, managing software licenses is a complex and time-consuming task, but it is a crucial aspect of running a successful business. By using a software license manager, companies can reduce the cost of managing licenses, ensure compliance with licensing agreements, and avoid the legal implications of not having the correct licenses.

So, the question remains: is your company making the most of software license management tools to stay on top of software licenses?

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4 Benefits from CUBES License Manager

Do you have a good handle on your software license budget? Are you wasting the money that goes towards that budget on unused licenses?

Many organizations have (or should have) a Software Asset Management (SAM) program in place as part of their overall business strategy. The goal of this is to help reduce costs, limit risks, and increase transparency around software license purchases and usage. That’s where software license optimization comes in.

How our License Manager CUBES Fits into Your SAM Program

If your organization is stitching together spreadsheets of outdated software license records or relying on each department to keep track of its licenses, it may be time for an upgrade. Using a comprehensive license management tool like CUBES License Manager allows you to quickly access information on all licenses within your organization – from the number of licenses purchased to expiration dates, and contract details to renewal alerts.

With a license manager, you can streamline your procurement process and minimize the efforts involved from other departments to report on license spending. Specifically, here are 4 invaluable benefits from a license manager that will save you money and time:

1. Cost Savings

CUBES helps organizations consolidate their software environment, giving IT managers more control over software spend across different departments. Knowing the exact type and number of software licenses purchases can lead to better financial planning.

2. Avoid Fines and Penalties

Automatic renewal alerts will notify designated members of expiring software licenses. This feature can be help organizations save a lot of money by avoiding expiration penalties or fees.

3. Improved Planning

CUBES is a centralized software license management platform, allowing IT managers the ability to keep accurate records of contract terms, renewals, and purchases.

4. Business Alignment

With a transparent view into existing IT investments, organizations can align those with their business objectives. Additionally, predictive and trend analysis allows management to forecast future IT spend and needs.

Ready to Cash in on the Benefits of Software License Management ?

Download our guide to help you with the decision-making process for CUBES. Or, sign up for a free trial and get started immediately.

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Why License Management Tools Are Essential

Having a fully effective Software Asset Management (SAM) program is essential for all organizations, whether big or small. However, one of the biggest challenges is making SAM a priority, placing license management at the bottom of an organization’s “to-do” list.

To help you better understand why your organization needs a license management tool, we’ve outlined the reasons why having one is essential.

Centralized License Management

The foundation of a good SAM program is keeping your software license information up-to-date. Doing so in a comprehensive license management platform allows you to manage, keep track of, and report on your licenses easily and efficiently.

Without a comprehensive license management tool, managing licenses can easily become a tedious, manual process that’s prone to error. Most organizations use a number of spreadsheets across different departments to manage or track their licenses. These can often be lead to inaccuracies and make it difficult to summarize into a report.

With Tangent’s License Manager, CUBES, gone are the days of stitching together multiple spreadsheets across different departments. You can upload all of your spreadsheets into CUBES in less than a minute and be on your way to start organizing, managing, and reporting on all licenses.

Budget-Friendly

An important aspect of every organization is managing its budget. Surprisingly, many do not keep track of software license spend. It can be easy to purchase too many licenses and ending up with some that are unused, and expiration penalties can add up and be costly.

License management tools can help eliminate overspend, purchasing the wrong licenses, or not purchasing enough. Knowing the exact cost and amount of licenses purchased can help organizations adhere to software budgets.

With CUBES, organizations can effectively and automatically manage their software licenses and subscriptions from purchase to renewal and beyond. Its easy-to-use interface enables users to easily manage license records on a frequent basis. CUBES is an essential tool for organizations looking to hone their license management process.

Get a Free Trial of CUBES

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Benefits of Software License Management Across Different Departments

With so many new technologies emerging on an almost daily basis, it’s important for organizations large and small, to understand exactly what software is being used. Managing software licenses has always been a challenge, and in today’s technologically advanced world, it has become increasingly difficult. However, saving money by avoiding duplicate software licenses, over-licensing, and over- or under-spending should be at the top of every organization’s list.

For those in information technology (IT), the necessity of a software asset management (SAM) program is obvious, but for other departments, it might not be as clear as to how they benefit from license management. Understanding what is and isn’t being used across all departments helps an organization make informed decisions, especially when it comes to rolling out new technologies to drive the business and increase productivity.

IT Department: Smoother Software Deployments

When we think of software installations and deployments, we automatically think of IT. However, not all IT teams actually manage the organization’s licenses. Keeping track of license count, expiration and renewal dates, license spend, etc. usually falls on the lap of a License Manager or SAM team. When working together, IT can better understand exactly what software is being used, allowing them to plan and execute software rollouts or uninstall unused software – thereby optimizing software license budgets.

Many license management tools, like Tangent’s CUBES License Manager, also have reporting capabilities that give deeper insight into an organization’s licenses, such as:

  • Number of licenses that are coming due or expired
  • Amount broken down by company, product, department, and type of license
  • Length of license or subscription agreement
Cubes License Record View

Furthermore, CUBES has a document repository that allows users to upload documents related to each license record, so important files such as quotes, contracts, and license details can all be digitized and easily accessibly within the record.

Finance Department: Better Opportunity to Manage Departmental Budgets

When it’s not clear where or on what money is being spent, overseeing and managing an organization’s budgets can become overwhelming, especially if that leads to over-spending. Understanding what software is being used gives the finance team the opportunity to cut necessary costs on unused or duplicate software.

Additionally, having the visibility that comes with a license manager prepares the finance department for renewals, so they’ll know exactly when to expect large payments. Ultimately, this instills confidence into the team when going into budget discussions with the administration team.

Administration Department: Greater Visibility into Software License Budgets

Engaging and persuading administration departments to invest in any software product has always been a difficult task across multiple industries. Once on board, though, stakeholders will find that the benefits of a license manager greatly outweigh the cost.

Having a license manager will show directors, administrators, managers, etc. exactly how much is being spent on software and help them identify areas for cost savings. The goal is to generate savings for the entire organization year over year.

Additionally, a license manager allows the admin team to see all of the organization’s software at a glance, which can be helpful in identifying outdated technologies. Ensuring that employees have the latest software enables them to be more productive, work efficiently, and communicate and collaborate effectively across the entire organization.

Whether your organization is large or small, a license manager brings peace of mind. Being able to gain full visibility of software deployments, licenses, and cost is essential in managing budgets while enabling your organization with the latest technologies. CUBES can take you there. Sign up for a free trial to just how easy it is to start managing your licenses.