Software Asset Management (SAM) Tools
What is a Software Asset Management (SAM) Process?
Organizations have a lot to keep track of when it comes to managing the various third-party platforms used across departments. Working with any number of external applications comes with a variety of risks including data breaches, theft, fraud, and even cyber attacks. Because of these risks, it’s important to monitor information regarding each platform throughout its entire lifecycle with your organization. This information can include what sensitive data the platform houses or has access to, which internal policies apply to the application, 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 of these tools is to not only reduce legal risks, but to maximize IT expenditures and optimize end-user activity.
Organizations can outsource a process, but they cannot outsource the associated risks to the vendors they work with. In fact, bringing on a third party comes with its own set of risks that must be managed. SAM tools are important in this process, especially in the event of a scandal involving third party applications. With an internal SAM process, you’ll stay on top of their risks as well, so that your external platform does not come back to bite you. By adopting SAM software, your company will not only be audit-ready, but it could 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 lifecycles. 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 platforms in one interface simplifies 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.
SAM tools reduce 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, through maintenance and eventual disposal of the application.
LogicManager ties for the highest overall position for Ability to Execute in the 2019 Gartner Magic Quadrant for IT Risk Management Solutions.
LogicManager’s SAM Tools
Software Asset Management tools empower 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 software asset management solutions makes it easy to manage, control, and protect applications across the enterprise throughout all stages of their lifecycles.
- 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 SAM 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.
Get this solution.
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 asset management solution.
- Due Diligence and Third-Party Risk Management for Investment AlternativesBernie Lapierre2018-02-22T16:58:05-04:00
- Fraud Risk Management SoftwareLogicManager Analyst Team2019-04-02T13:46:09-04:00
- Regulatory Exam ManagementBernie Lapierre2019-03-04T15:47:57-04:00
- FFIEC Business Continuity PlanningLogicManager Analyst Team2019-03-04T15:27:29-04:00
- Ethics and ComplianceLogicManager Analyst Team2019-04-02T13:46:39-04:00
- SOC 2 Compliance ChecklistLogicManager Analyst Team2019-07-18T16:33:11-04:00
- Software Asset Management (SAM) Tools | LogicManager SAM SoftwareLeah Gourley2019-07-18T16:17:14-04:00
- Bank Secrecy Act and Anti-Money Laundering ManagementLogicManager Analyst Team2019-04-02T13:46:41-04:00
- Risk Assessment TemplatesBernie Lapierre2019-01-11T11:27:05-04:00
- Customer Complaint Management SoftwareLogicManager Analyst Team2019-04-02T12:53:09-04:00