Credit: WorkPerch

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As remote workplaces gain popularity, so too does the use of cloud-based web applications. With so many applications moving to the cloud, it’s imperative for businesses dealing with multiple subscriptions to start thinking about cloud software license management. 

Juggling various software licenses in the cloud can create needless busy work for in-house IT professionals and accounting teams, but it doesn’t have to. With the right software license management solutions in place, your team can save time and money and ensure you and your teams are getting the most out of your subscriptions. 

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What is Cloud-Based Software License Management?

Cloud-based software products are more prevalent than ever, with experts estimating that global spending on cloud application services (software as a service or SaaS) alone will reach over $171 million in 2022.

Still, for as much as companies spend on licenses for cloud environments, many of the licensed software features often go under-utilized. Case in point: around 56% of companies’ Microsoft 365 licences are under-utilized or fully inactive, signaling a major waste of funds for those license-holders. 

‍Enter cloud software license management, like Quadbridge’s QBx Portal, which allows teams to view and manage their Microsoft 365 assets. Companies can easily achieve license optimization by using software management services sourced from a software vendor or IT services provider without draining their own time and resources.

It’s important to note that cloud-based software license management differs from server management software, which manages your entire server (hardware and software), like the vCenter server, which manages a company’s VMware vSphere environments.

Now, back to software license management solutions and an important question:

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Cloud-based software license management solutions typically involve a portal where all your licenses are kept. One of the most significant benefits of such solutions is license inventory monitoring. Your license inventory will keep your team notified of the renewal date for each license agreement without having to spare a second thought about those dates themselves. 

Cloud-based software renewals management becomes even more complex when you consider the different software licensing models that different software companies may offer. The most common cloud-based software license models include:

• A perpetual license lasts permanently after a one-time sale and doesn’t require renewal. 
• A subscription license, which you must renew after a set period (perhaps monthly or annually).  ‍
• A floating license, which is based on the number of users utilizing the software at a given time. With a floating license, companies receive a set number of licenses—15, for example—which means that 15 users can access the software at one time, regardless of the total possible number of users.

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Beyond keeping your IT and accounting teams apprised of renewal dates, cloud-based software license management offers many other benefits, including:

• Software license compliance and risk mitigation. A solid license management portal will help you keep your precious data safe, whether you’re using a public cloud or on-premise cloud software.
  
  In addition to real-time protection from the data loss that can result from compromised credentials, breaches and viruses, your software license managers will make sure that you meet regulatory compliance standards, such as GDPR.

• Simplified financial management. Track departments’ usage of licenses to more efficiently assign licensing fees.
• Know how team members are using your licenses. Receive regular reports, calculate costs and delegate software administration.‍
• Give your IT team the freedom to focus on strategy. With a software license management solution, your IT team can take care of what matters.

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Credit: bsdrouin‍

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If you’re already paying for a Microsoft 365 license or other licenses, you stand to benefit significantly from software license management solutions, which eliminate the inherent challenges of keeping track of cloud-based subscriptions and licenses and ensuring their security.

At Quadbridge, a single platform—the QBx Portal by Quadbridge—allows our clients to keep their Office 365 software assets up-to-date, monitored and used to their full potential.

‍Ready to take control of your software licenses and experience the difference that the QBx Portal can make for your team? Contact Quadbridge to schedule a free demo of our Microsoft 365 license management solution.