Organizations concerned with data compliance and scalability often narrow their focus to improving and streamlining enterprise software license management best practices. 

By tracking and automating the management of software licenses, companies can more effectively budget, manage software license renewals, and create an inventory of software. 

To help walk you through licensing agreements and the best software license management tools, we’ve compiled this eight-step guide to provide an easy starting point.

Enterprise Software License Management Best Practices

1. Create a Software Management Strategy

Developing a complete software management policy includes documenting all software licenses approved along with:

• Software versions
• Supported platforms
• Software expiration dates

Given how software licenses are essential for organizational compliance, software management strategies must provide clear oversight for compliance and enforcement. Conducting routine performance reports and self-assessments helps ensure the longevity and effectiveness of your software management strategy.

It’s important to consider providing your staff with in-depth training programs for how to use available software along with the policies, licenses, and conditions of those solutions.

2. Engineer a Software Inventory

Discovering software usage/license usage and which ones are being underused can help organizations cut down on licensing fees and save money. 

For example, Office 365 is the most widely used cloud service by user count, yet 56% of licenses are underutilized. To help you streamline your license management and control cost rely on software asset management systems, like the QBx Portal.

3. Uninstall Obsolete Applications

Managing software vendors and active user license accounts are easier after performing quarterly checks to limit redundant application usage. Best of all, this step can save you from expensive purchase costs and maintenance contracts.

4. Safeguard Software Licensing Agreements

Organizations fulfill software license compliance by maintaining software licensing agreements. 

By using a repository for the management of software licenses, businesses can file licensing documents, warranty information, software depreciation, cost evaluation, license purchase, and more.

5. Setup Routine Checks & Updates 

Businesses demonstrate audit compliance by performing regular checks and comparing licenses to different types of software. By using automatic license monitoring systems, organizations can quickly identify overused and underused licenses. 

The core purpose of software audits is to ensure license compliance systems are up to date and that automated processes are in place.

6. Double-Check Compliance

There are many software license management tools available on the market but they don’t provide the depth of service most organizations seek. 

To help hasten the compliance verification process, consider using automated processes that ensure licenses are their latest versions and that you have a blacklist of prohibited applications to prevent unauthorized software installations from occurring. 

By tracking software information more accurately, you reduce unnecessary software purchases and are better prepared for audits through detailed documentation.

7. Create a Software License Compliance Strategy

A software license management policy is only effective if it is enforced. By using a compliance strategy or license compliance software, organizations can maximize their savings and productivity to reduce their total cost of ownership. 

More importantly, however, they are better protected against audits and potentially hefty fines. HIPAA, for instance, has already charged over $5.5 million in fines in 2021. 

To see if your compliance is in order, speak with one of our specialists today. 

8. Continuously Adapt

Equipping your team with the best software license management tool and robust technology can help your organization stay compliant, reduce IT expenditures on the software installed, and foster scalability. 

As more businesses adopt and encourage remote work, employees are increasingly wanting to use their personal devices to connect to corporate systems. As a result, many organizations are making changes to their network and strengthening security. 

If your organization supports remote workers, make sure your software license policy oversees external device access along with the compliance and security implications.

Implement the Best Software License Management Tools With an Expert Partner

The ramifications of slacking on software license management can be severe, with some organizations paying millions annually.

To minimize your auditing risks and improve your software license management, consider using an experienced IT partner. At Quadbridge, our innovative QBx Portal transforms your business and drives success through robust technology and security. 

We offer adaptive and responsive solutions within your budget and can support any organization. With over 13 years of experience and 400 industry partnerships, we are trusted by leading brands like Microsoft, Intel, and more. 

Bring the benefits of the QBx Portal and our proven IT services to your business by connecting with us today.