IT companies require Software Asset Management (SAM) tools to build and maintain a list of software and hardware assets. SAM tools are useful for managing the life cycles of software assets from the time of purchase, throughout their installation, use, and maintenance periods to the time of software disposition. 

As businesses grow, adopting SAM solutions can benefit them greatly as it helps optimize the IT asset costs, manage software license compliance, and keep a record of the growing IT solutions list. 

Benefits of Software Asset Management (SAM) Tools

These are the top and most prominent benefits of incorporating software asset management tools into any business:

1 – Enhance the efficiency of software assets 

IT companies can utilize SAM tools to collect all relevant data on the installation and use of their software systems. This data helps determine opportunities to save money while procuring software. Irrespective of the fact that you may be purchasing fewer licenses for little-used software or determining opportunities to renew software user license en-masse at a discounted price, the SAM tool helps businesses manage their software assets with enhanced efficiency.

2 – Compliance management with user license agreements

Software developers earn millions every year by charging compliance-failure fees to thousands of unaware software users. By integrating SAM tools, any IT business organization can secure its reputation and prevent loss of finances by managing their software usage effectively through complete compliance with user-license agreements’ terms and conditions. 

3 – Ensure accurate software inventories

As a business organization grows, they require additional hardware and software to accommodate their increasing needs. This results in the accumulation of additional software user licenses, which can get difficult to track using conventional manual methods. However, with the help of SAM tools, small and large businesses alike can maintain transparency and efficiency in managing their IT assets. This way, you can prevent unwanted purchases and find better and more efficient ways to distribute hardware and software resources throughout your organization. 

Quick Tips to Choose Best Software Asset Management (SAM) Tools

When your IT needs grow, the next step involves identifying the specific needs and requirements of your business organization so as to choose the best-suited SAM tools. 

Check out the top 5 quick tips about Software Asset Management (SAM) tools that you need to know:

1 – Discovery of Software

Earlier, keeping track of software and hardware inventory was the responsibility of the business organization’s IT department, which would use spreadsheets to comply with end-user license agreements. 

Today, a SAM tool can automatically detect new software installation and its usage within the network. 

2 – Inventorying and Cataloguing Software

Inventory cataloguing of software and hardware is a major responsibility of anSAM tool. This process is necessary to avoid wastage of IT resources. 

Efficient SAM tools today can scan the network for software and hardware configuration items and accumulate all relevant data and information regarding it. 

3 – Assessment of Software Usage

Re-allocation resources as a means of cost-savings become incredibly easy when SAM tools help IT organizations by regular software usage assessments. 

4 – Monitoring of License Compliance

IT companies lose immense amounts of money when they inadvertently fail to comply with end-user license agreements for software used by their organization. However, you can easily avoid having to pay non-compliance fees and penalties to software companies with the help of all-round monitoring from SAM tools. 

5 – Depreciation of IT Assets

As software used by organizations is classified under fixed assets, this is often used for income tax reduction. A SAM is responsible for reducing the total cost of ownership successfully. 

Conclusion

These are the 5 quick tips about SAM tools that every business organization should know. It is highly recommended to incorporate reliable SAM tools to ensure complete compliance and adherence to software end-user license agreements.