Software Asset Management
What is Software Asset Management?
Organizations have a lot to keep track of when it comes to managing all the platforms they use. Working with a number of applications comes with a variety risks including data breaches, theft, fraud, and even cyberattacks. Throughout the application’s entire life cycle, it is important to monitor information regarding each platform. This can include what sensitive information they have access to, which internal policies apply to them, and so much more.
Software asset management tools are responsible for monitoring both the software itself and the licensing rules that come with it. SAM software manages inherent compliance risks, such as redistribution and ownership rights. The goal is to not only reduce legal risks, but to maximize IT expenditures and optimize end-user activity.
An organization has the ability to outsource a process; however, they cannot outsource their risks to the third parties they work with. Software asset management tools are important in the event of a scandal involving third party applications. Stay on top of their risks as well, so that your third party platform does not come back to bite you. By adopting SAM software, your organization will not only be audit-ready, but it will be able to avoid huge cost implications and a damaged reputation along the way.
What are the Benefits of SAM Software?
SAM software empowers organizations to identify, track, and evaluate the most critical applications over their product life cycles. Software asset management tools enable organizations to keep up with the rapidly changing compliance regulations required of each application. Storing information about all of your applications in one interface eases the process of identifying, assessing, and reporting on the risks of each platform. As a result, this reduces the organizations’ legal risks associated with software ownership, redistribution rights, and expiration dates.
Software asset management (SAM) reduces the stress that comes with assessing each platform. Organizations can store all of their application contracts across the enterprise in one centralized library from the moment of purchase to maintenance and disposal of the application.
LogicManager’s Software Asset Management Tools
Application management software empowers organizations to function ethically and within software compliance regulations. LogicManager provides a centralized platform that streamlines the management of all your applications. LogicManager makes it easy to keep track of users, licensing agreements, and software guidelines. LogicManager’s ability to automate tasks simplifies the process to request new applications, or remove or renew subscriptions.
- Centralized Platform: Store information regarding all of your software applications in one place. LogicManager’s application management software makes it easy to manage, control, and protect applications across the enterprise throughout all stages of their life cycles.
- Automated Workflows: LogicManager uses automatic reminders and notifications to alert the appropriate person in the event of an upcoming subscription renewal, test, patch-deployment, or other activity.
- Audit Readiness: Follow pre-built checklists to ensure applications are meeting compliance requirements. LogicManager’s integrated audit management software minimizes liabilities associated with software piracy in the event of an audit by a vendor or regulator.
- Reporting Engine: LogicManager’s software application management tools collect and analyze metrics and logs across applications and supporting infrastructure using risk dashboards and reports. Automatically identify any misalignments and ineffective controls throughout applications’ related processes, procedures, and policies.
- House Industry Standards: Store frameworks of processes related to software asset management in accordance with governance standards.
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If you’re already a LogicManager customer, you can contact your advisory analyst to activate this plugin! If you’re new to LogicManager, request a personalized demo to take a look at our software application management solution.
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