Best License Management Software

Best license management software includes License Dashboard, 10Duke Entitlements, Cryptlex, Acropolis, and Nuvovis. License management systems let businesses adapt quickly to market needs, maximize company revenues, and maintain compliance, ensuring the security of your assets and your company's reputation.

Live Agent - Tejasvita Domadiya
Live Agent - Divyang Kansara
Live Agent - Manali Shah
Get Free Demo

No Cost Personal Advisor

SoftwareSuggest offers verified & unbiased user reviews based on user ratings and feedback. Our ratings and reports do not contain any paid placements.

List of 20 Best License Management Software

Showing 1 - 20 of 61 products

Category Champions | 2024

Freshservice is a cloud based ITSM Solution

Product Description

This information is provided by vendor.

Freshservice is an intuitive and affordable license management software from the Freshworks product family. It has an easy set-up and high usability, deploying AI to automate processes for efficiency. Features include Intelligent Alert Management, Automated Alert Grouping, Auto-updating CMDB, Templates, etc. It can be used for multiple organizational teams, improving the consistency of service. Read Freshservice Reviews

Most Reviewed

Category Champions | 2024

Software by Zoho Corporation Pvt. Ltd.

Product Description

This information is provided by vendor.

AssetExplorer is a cloud-based IT Asset Management software that offers businesses software licensing solutions. It helps monitor and manage assets throughout their lifecycle—from planning stage to disposal stage. It has features like Asset Life Cycle Management, IT Asset Inventory Management, Software Asset Management, Software License Management, Purchase Order Management, Asset Tracking Software, etc. Read AssetExplorer Reviews

Emergents | 2024

Product Description

FlexNet Manager from Flexera is a comprehensively-featured license management system as well as asset management software. It has features like Compliance Tracking, License Tracking, Contract/License Management, Audit Management, etc. This software comes with four powerful solutions meant for managing clients, data centers, SAP, and engineering apps. Its visually appealing interface is another outstanding characteristic. Learn more about Flexera FlexNet Manager

Emergents | 2024

Product Description

Among the best software license management tools, Snow License Manager helps optimize assets and licenses for organizations. It enhances the visibility of assets through its cloud-based system to ensure that businesses don’t miss out on compliance. Some of its functionalities are Unified View, Automatic Compliance Calculation, License Entitlement Tracking, Subscription Optimization, etc. Learn more about Snow License Manager

Contenders | 2024

Build Your Centralized IT Asset System of Record

Product Description

This information is provided by vendor.

Lansweeper is an asset management and license management platform that helps businesses integrate all their IT assets seamlessly. It has features like Asset Discovery, Asset Inventory, Security Insights, Lifecycle Tracking, etc. It also includes powerful integrations with ServiceNow, Vivantio SCM, TOPDesk, and many others. Its clients include industry leaders like Sony, Bayer, Bosch, and ArcelorMittal. Read Lansweeper Reviews

Emergents | 2024

Software by Provance Technologies

Product Description

Provance is an IT Services and Asset management software focusing on Microsoft. It spans Microsoft and Office platforms as well as several other well-known ones. This online license management system focuses on improving efficiency and problem-solving through features like Release & Deployment Management, Change Management, Contract/License Management, Incident Management, etc. Learn more about Provance ITSM

Emergents | 2024

Software by Device42, Inc

Product Description

This information is provided by vendor.

Device42 is a unique software license management solution that combines asset management with webhooks, API management, and workflow management. Features like Asset Budgeting, Asset Lifecycle Management, Cataloging / Categorization, Collaboration, Inventory Tracking, etc., make it a highly valuable tool. It collects data on a vast range of IT products, giving it remarkable breadth and depth. Learn more about Device42

Emergents | 2024

Product Description

One of the most versatile license management tools, Certero offers flexibility and convenience to users via its mobile app. It provides Hardware, Software, Cloud Asset, and SaaS management as an integrated package or as separate services. This software contains functionalities like Audit Defense, SAM Maturity Assessment, Daily License Positions, Rapid Time to Value, etc. Learn more about Certero

Emergents | 2024

Product Description

ServiceNow Asset Management is a license management software that also tracks and manages non-IT business assets. Its functions include Document Management, Customer Database, Analytics, Tax Management, Surveys & Feedback, Incident Management, etc. Its focus is on streamlining intensive, error-prone, and time-consuming tasks. It even offers users language support in nine languages. Read ServiceNow Asset Management Reviews

Contenders | 2024

Product Description

Among the best software license management tools for small and medium-sized businesses, Ivanti IT Asset Management helps teams regardless of physical location. It consolidates IT data to manage assets throughout their lifecycle. Companies can implement their own workflows or opt for inbuilt processes. Features include Complete Asset Visibility, Real-time Discovery, Automated Reconciliation, etc. Read Ivanti IT Asset Management Reviews

Emergents | 2024

Product Description

This information is provided by vendor.

OpenLM is a software license management software specializing in engineering programs like CAD, Sentinel, and others. It helps to monitor and manage licenses, reducing businesses' licensing costs by 20%. It offers features like User Activity Monitoring, License Management, License Tracking, Trial License, and Server Monitoring. Different licensing models, like cloud-based, floating, hybrid, etc., are included. Read OpenLM for Engineering Licensing Reviews

Software by Magnaquest Technologies

Product Description

This information is provided by vendor.

Quest's KACE is a license management system providing Unified Endpoint Management (UEM) to businesses. Alongside license management, its other solutions include automation of administrative tasks, compliance readiness, and hardware tracking. Highly customizable, it has features like Software Inventory, Hardware Inventory, Customized Branding, IT Asset Management, Automated Routing, SLA Management, etc. Learn more about KACE

Emergents | 2024

Software by Aspera Technologies Inc

Product Description

USU Software Asset Management (earlier name Aspera SmartTrack) is a combined software asset management system and license control software. It helps businesses reduce IT expenses through the optimization of Oracle, SAP, and various other software. This software contains functions like Compliance Tracking, License Tracking, Trial License, Cost Tracking, Audit Management, etc. Learn more about Aspera SmartTrack

Software by Symantec Corporation

Product Description

Symantec Asset Management Suite from Broadcom, one of the well-known license management solution companies, helps companies avoid wastage on software. It improves the visibility of existing software assets so companies can meet compliance requirements and stop unnecessary purchases. Its features include Asset Relationship Definition, Contract Management, License Tracking, Software Inventory, etc. Learn more about Symantec Asset Management Suite

Product Description

This information is provided by vendor.

Eracent ITMC Discovery is a comprehensive license management software with a focus on discovery, inventory, and utilization of software in business IT systems. It comes with many tools for this, such as Network Device Detection, Virtual Environment Scanning, Software ID Tag Detection, Server Utilization Monitoring, etc. This software works across platforms and has extensive scalability. Learn more about Eracent ITMC Discovery

IT Asset Management Software

Product Description

This information is provided by vendor.

AssetSonar is one of the preferred license management solutions for IT teams as it is designed keeping their workflows in mind. Being cloud-based, it can run on systems in any location. The app helps businesses manage their IT assets by offering real-time insights. Some features are Asset Budgeting, Inventory Tracking, Audit Trail, etc. Learn more about AssetSonar

Emergents | 2024

Entitlement Management: Efficiently Operate Your S

Product Description

This information is provided by vendor.

FlexNet Operations is the best license management software for entitlement management. Its support of multiple monetization models helps businesses monetize software. It even helps with compliance and customer growth requirements of firms. Alongside a visually appealing user interface, it has features like License Issuance, Node Management, License Management, Copy Protection, Portable License, etc. Learn more about FlexNet Operations

Contenders | 2024

Asset Tracking and Inventory Management software

Product Description

This information is provided by vendor.

One of the most cost-effective software license management tools, EZOfficeInventory simplifies workflows to increase organizational efficiency. It has features like Supplier and Purchase Order Management, Inventory Optimization, Asset Lifecycle Management, Barcoding / RFID, etc. It also offers non-intrusive asset tracking, compliance support, effortless license management, and vendor management for cost reduction. Read EZOfficeInventory Reviews

Software by Keygen

Product Description

Keygen is one of the most reputed license management solution companies and is used by business leaders like Google, Spotify, Ranorex, and others. Its functionalities include Node management, Copy Protection, License Key Validation, Entitlements, Device Activation, etc. There are no hidden maintenance costs, scaling is easier, and integrations are more secure with this software. Learn more about Keygen

Emergents | 2024

Product Description

Reprise License Manager provides end-to-end license management for enterprises, offering multiple licensing models. This license management software has account-based entitlement fulfillment for teams, on-premises or cloud-based end-use license management, online activation key delivery, and so on. Features like Simple API, Multi-Platform Support, Browser-Based Administration Interface, etc., make it a flexible but robust tool. Learn more about Reprise License Manager

license management software guide

In today's digital landscape, businesses and establishments face numerous challenges when managing licenses effectively. From software licenses to subscriptions and intellectual property rights, keeping track of licenses can be a complex and time-consuming task. That's where license management software comes in.

In this guide, we will explore the top license management system solutions available in the market, helping you make an informed decision for your establishment. Our team of experts has thoroughly researched and evaluated various software options based on their features, functionality, user-friendliness, scalability, and customer reviews.

No matter your company's size—small, medium, or large—finding the right license management software filter is essential. It enables you to optimize costs, ensure compliance, and streamline operations effectively. In this guide, we'll explore the key features to consider when choosing a license management solution.

What is License Management Software?

The term license management software is a product developed to assist businesses in more effectively managing their software licenses. In layman's words, it is a system that enables businesses to keep better track of and have greater control over the software that they use. Software license management keeps track of which software assets an establishment owns, how many licenses are available for each asset, and monitors who are using each license.

Software license management tools automate the monitoring of software license usage and guarantee adherence to regulations. It provides notifications when compliance is jeopardized and discovers ways to enhance licensing expenses for the organization. This software assists companies in understanding their software license agreements and regulations, preventing any legal fines, penalties for non-compliance, or audit shortcomings.

How Does License Management Software Work?

Online license management system plays a crucial role in organizations' efficient and effective management of software licenses. As establishments increasingly rely on various software applications to streamline operations and enhance productivity, keeping track of licenses becomes essential to ensure software license compliance and optimize costs. Let's see how the software works -

how-does-license-management-software-work

  1. Renewal management

    The renewal management feature in license management software streamlines the process of tracking and managing license renewals. It sends automated reminders and notifications to ensure timely renewals or terminations of licenses. By proactively managing license renewals, organizations can avoid penalties, unnecessary expenses, and potential disruptions in software access.

  2. User access control

    With user access control, license management software enables establishments to define and control user permissions for specific software applications. It prevents unauthorized installs and lowers the risk of license abuse by ensuring that only those with authorization can access licensed software. Only authorized users can access licensed software, preventing unauthorized installations and reducing the risk of license misuse.

  3. License repository

    The license repository function serves as a centralized hub for storing and organizing all license-related documents. It includes purchase agreements, contracts, license keys, and other relevant information. This centralized repository simplifies license management by providing easy access to essential documents during audits, compliance checks, or license-tracking activities. It enhances organization and efficiency in managing licenses.

  4. License auditing

    It provides correct and current license information. License management software makes internal and external audits more effective. This functionality streamlines the audit process by automatically creating reports, monitoring license consumption, and assuring adherence to license agreements. By streamlining license audits, establishments can manage their license inventory effectively, reduce non-compliance risks, and mitigate potential financial and legal penalties.

  5. Notifications and reminders

    License management software sends automated notifications and reminders for crucial license-related events. These include license expirations, renewal deadlines, and upcoming audits. By proactively alerting organizations to important milestones, this feature helps them stay on top of their license management tasks, avoid compliance issues, and maintain a proactive approach to license renewals, compliance, and overall license management.

  6. Software usage analytics

    License management software provides valuable insights into software usage patterns within an organization. It collects and analyzes data on software utilization, allowing establishments to make informed decisions regarding license allocation and software investments. By identifying underutilized licenses, optimizing software distribution, and aligning licensing with actual business needs, organizations can maximize their software utilization and reduce costs.

Types of License Management Software

License management solution companies play a crucial role in effectively managing software licenses and ensuring compliance. It helps establishments track, monitor, and optimize their software usage. Let's explore different types of license management software.

different-types-of-license-management-software

  1. Usage-based license management software

    Businesses can monitor and manage software usage based on actual usage metrics with the help of usage-based license management tools. It keeps track of how frequently a certain piece of software is used, enabling companies to assign licenses effectively and spot under or overused software. By coordinating license usage with organizational requirements, this kind of software reduces license costs and guarantees compliance.

  2. Activation-based license management software

    Before being able to utilize the program, users of activation-based license management software are required first to activate their licenses. It provides businesses with the ability to manage and maintain control over the total number of active licenses at any given time. This category of software offers insights into license activation and deactivation, making it possible for enterprises to maintain compliance and prevent unlawful usage of the software.

  3. Subscription-based license management software

    Businesses now have the ability to manage software licenses on a subscription basis thanks to the development of subscription-based license management tools. It makes license allocation, renewal, and cancellation easier based on the length of the subscription period. This category of software makes license management operations more streamlined.

Benefits of License Management System

A license management tool offers numerous advantages for businesses seeking efficient software license management. By implementing such a system, establishments can streamline their processes and do many more action items. This section explores the benefits in detail, highlighting the advantages of a well-implemented license management system.

top-benefits-of-license-management-system

  1. Provides transparency

    One of the key benefits of software licensing solutions is the transparency it brings to software license usage. With a comprehensive system in place, businesses can gain insights into how software licenses are allocated, utilized, and potentially wasted. This transparency allows organizations to identify any inefficiencies or discrepancies in license distribution, enabling them to make informed decisions regarding license optimization, reallocation, or renegotiation.

  2. Automates software asset management

    Manual software asset management can be time-consuming, error-prone, and inefficient. However, software license management software automates this process, simplifying the tracking and monitoring of software licenses. The automation saves valuable time for IT teams, reduces the risk of human error, and allows establishments to manage their software assets without unnecessary administrative burdens efficiently.

  3. Boosting profits

    Effective license management directly impacts a business's bottom line by optimizing software usage and reducing unnecessary expenses. By gaining visibility into license utilization, organizations can identify underutilized software and reallocate licenses accordingly. This prevents overspending on unused licenses and maximizes the return on software investments.

  4. Reducing security risks

    Organizations may be exposed to serious security vulnerabilities by unmanaged software licenses. Software that is out-of-date or unpatched has flaws that bad actors can exploit, which could result in data breaches, system intrusions, or other cyber threats. The best software license management tools help mitigate these risks by ensuring timely updates, patches, and license renewals.

  5. Keeps your business compliant

    Maintaining compliance with software licensing agreements and regulations is crucial for businesses of all sizes. A software license management solution helps organizations ensure they adhere to license terms and conditions, preventing unauthorized or illegal software usage. By centralizing license information, tracking usage, and automating license renewals, businesses can avoid penalties, litigation, and reputational damage.

  6. Centralized management

    License management solutions provide centralized control and oversight of software licenses across an organization. It consolidates license information into a single dashboard or interface, allowing IT administrators to efficiently manage licenses, track usage, and respond to licensing needs. This centralized management streamlines processes, reduces complexity and ensures consistent license compliance across the organization.

  7. Improved productivity

    By implementing a license management system, businesses can enhance productivity across their workforce. A streamlined and automated license allocation process eliminates manual efforts, reducing the time spent on managing licenses and troubleshooting licensing issues. This allows IT teams to focus on more strategic tasks, accelerating overall productivity.

Features of Best License Management Software

The best license management software offers a comprehensive set of features designed to streamline and enhance the management of software licenses within organizations. This section explores 6 key features in detail, highlighting their importance and benefits in effectively managing software licenses.

key-features-of-license-management-software

  1. License tracking and license inventory

    License tracking and inventory management are fundamental features of license management software. These features enable organizations to maintain a centralized database of all software licenses, including license details such as product keys, activation dates, and expiration dates. By accurately tracking licenses and maintaining a software inventory, businesses can easily determine the number of licenses available, allocated, or in use.

  2. Compliance management

    Ensuring compliance with software licensing agreements and regulations is critical for establishment. License control software provides robust compliance management features that help organizations stay in line with license terms and conditions. These features automate license audits, monitor usage, and provide alerts and notifications for license renewals or expirations. Compliance management features also assist in license reconciliation.

  3. Maintenance history monitoring

    Maintenance history monitoring is a valuable feature offered by license management software. It allows organizations to track and monitor software maintenance activities, such as updates, patches, and version upgrades. This feature ensures that software remains up to date, minimizing security vulnerabilities and improving performance. By monitoring maintenance history, establishments can easily identify outdated software versions and schedule updates.

  4. Vendor management

    Vendor management features within license management software simplify the process of managing relationships with software vendors. These features centralize vendor information, including contract details, support contacts, and licensing agreements. By having vendor management capabilities, organizations can efficiently track vendor communications, negotiate favorable terms, and manage licensing contracts and renewals.

  5. License optimization

    License optimization features are designed to help organizations maximize the utilization of their software licenses. These features analyze license usage patterns, identify underutilized licenses, and provide recommendations for license reallocation or consolidation. By optimizing license usage, businesses can reduce licensing costs, avoid unnecessary purchases, and ensure efficient utilization of software resources.

  6. Reporting and analytics

    Reporting and analytics capabilities offered by license management software provide organizations with valuable insights into their software license usage and compliance status. These features generate customizable reports and dashboards that offer a holistic view of license utilization, compliance metrics, and license-related expenses. By leveraging reporting and analytics, businesses can make data-driven decisions and do more action items.

How to Choose the Right License Management System?

For establishments that want to manage their software licenses effectively, picking the correct license management software is essential. With so many possibilities available, it's crucial to take a few things into account to make sure the software fits certain business requirements. This section provides guidance on selecting the right license management software by considering the following:

how-to-select-the-right-license-management-system

  1. License Types

    Before choosing license management software, it's essential to understand the types of licenses used within the organization. Different software vendors offer various license models, such as subscription-based, usage-based, floating, or activation-based licenses. Organizations should choose software that supports and manages the specific license types they use. This ensures compatibility and seamless integration with existing licenses, streamlining license management processes.

  2. Usability

    Usability is a critical factor when choosing license management software. The program ought to possess an instinctive interface, straightforward navigation, and user-friendly characteristics. It must empower non-technical users to effectively execute license-associated activities, such as license apportionment, software license monitoring, and reporting. Furthermore, the program must offer concise documentation, instructional materials, and client assistance.

  3. Cost

    The cost of license management software is an important consideration. Establishments should evaluate the pricing structure of different software solutions. Some may offer a one-time purchase, while others may require annual subscriptions or charges based on the number of licenses managed. It's vital to assess the long-term costs, including maintenance, support, and any additional fees.

  4. Scalability

    Scalability is vital, particularly for growing organizations or those with changing license needs. The chosen license management software should accommodate future expansion and increasing license volumes without significant disruptions or additional costs. It should offer flexible license management capabilities that can easily adapt to changing business requirements. Assessing the software's scalability ensures it can handle license management efficiently as the organization evolves and grows.

  5. Integration

    Integration capabilities are significant when selecting software license management tools. The ability to integrate is a key consideration when choosing software licensing management systems. It should smoothly connect with the already-installed IT infrastructure, such as enterprise resource planning (ERP) software, asset management tools, and software deployment platforms.

Top 5 License Management Software Comparison

Name
Free Trial
Demo
Pricing

Device42

14 Days

Yes

Custom pricing

Snow license manager

30 Days

Yes

Custom pricing

AssetSonar

7 Days

Yes

Starting price at $79.99/month

EZOfficeInventory

14 Days

Yes

Starting price at $40/month

KACE Systems Management Appliance

14 Days

Yes

Custom pricing

Here, we will explore their features and pricing models and weigh the pros and cons of each option. To make informed decisions to optimize your software licensing processes and ensure compliance, read the following carefully. Let's discover the top 5 license management software with this comprehensive comparison. Let's find out!

1. Device4

device42-license-dashboard

Device42 is a comprehensive infrastructure management software that provides end-to-end visibility for both physical and virtual IT assets. The software is designed to help establishments improve their IT operations and reduce costs by providing accurate and up-to-date information about all their assets. With Device42, users can automate tasks such as network discovery, hardware inventory, software license management, and IP management.

Features
  • Infrastructure discovery
  • Dependency mapping
  • Storage discovery
  • Software license management
  • IP address management
  • SSL certificate management
Pros
  • Device42's software license management feature provides a complete view of all software licenses, allowing for easy software license tracking and reporting
  • With Device42's software license management, you can ensure that all your software installs comply with the licensing agreements
  • The platform helps prevent the over-purchasing of licenses, potentially saving you money in the long run
  • Device42's software license management can integrate with other tools you may use, such as SCCM
Cons
  • Configuring the software license management feature can be time-consuming
  • Regular monitoring and updating of software licenses may still require considerable amounts of time and attention

Pricing 

  • Custom pricing.

2. Snow license manager

snow-license-manager-dashboard

Snow license manager is a software asset management tool that helps establishments to optimize their software licenses and ensure compliance with vendors' policies. Businesses are able to make wise decisions about their software investments thanks to the comprehensive insight it provides into software usage and licenses. By completely automating the software licensing procedure, the tool lowers the risk of non-compliance and wasteful spending.

Features
  • Technology intelligence
  • IT Visibility
  • Risk mitigation
  • Cost management
  • Hybrid cloud management
Pros
  • Snow license manager ensures compliance by centralizing software license management for organizations
  • Identify overused or underused licenses, saving costs with this platform
  • Detailed software usage reports support informed purchasing and license management decisions
  • Seamless integration with other business systems enhances software license management
Cons
  • Learning and configuring the software for organizational needs requires significant effort
  • Its specialization comes at a high cost, limiting accessibility for small organizations

Pricing

  • Custom pricing.

3. AssetSonar

assetsonar-license-dashboard

AssetSonar is a powerful software license management tool designed to manage license compliance and reduce software licensing costs for establishments of all sizes. With its user-friendly interface, it allows companies to efficiently track and manage software licenses, including expiration dates, usage rights, and renewals. AssetSonar's robust reporting features provide greater visibility into license usage.

Features
  • Hardware asset management
  • Software asset management
  • Software license management
  • IT service management
  • K-12 asset management
Pros
  • It is easy to navigate, enabling companies to get started with license management quickly
  • AssetSonar can help reduce software licensing costs by enabling a more accurate record of license usage
  • The platform can be customized to meet specific business needs and requirements
  • It offers powerful reporting features, providing better insight into software license usage and expenditure
Cons
  • It may not be suitable for companies that require extensive integrations with third-party software tools
  • The platform currently does not have a mobile app, which may be inconvenient for some users

Pricing

  • It starts from $79.99 per month

4. EZOfficeInventor

ezofficeinventory-dashboard

EZOfficeInventory is a user-friendly asset-tracking software that helps organizations manage their inventory more efficiently. With this software, teams can easily track their assets, perform maintenance, schedule reservations, and even scan barcodes. EZOfficeInventory streamlines inventory management, increases accountability, and saves organizations time and money.

Features
Pros
  • EZOfficeInventory scales to fit businesses of all sizes, offering customization for diverse industries
  • Intuitive navigation and a mobile app simplify asset tracking for users
  • Robust reporting generates depreciation, audit, and stock level reports
  • Seamless integration with popular tools like QuickBooks Online, Slack, and Zendesk streamlines workflows
Cons
  • Manual entry for certain processes can lead to errors and inefficiency
  • The absence of real-time alerts may cause employees to miss critical notifications

Pricing

  • Essential- $40 per month
  • Advances- $55 per month
  • Premium- $65 per month
  • Enterprise- Custom pricing

5. KACE systems management appliance

kace-system-license-dashboard

The KACE Systems Management Appliance is a comprehensive solution for managing software licensing in establishments. It enables IT professionals to easily track software usage, identify underutilized licenses, and ensure license compliance, all from a single centralized console. This helps organizations save money on unnecessary licenses and avoid costly penalties for non-compliance.

Features
  • Inventory and IT asset management solution
  • Server management and monitoring
  • Patch management and endpoint security
  • Mobile device management
  • Software license management
Pros
  • It offers an automated approach to software license management, reducing manual errors and ensuring compliance with licensing agreements
  • The software provides real-time monitoring of software usage and licenses
  • This platform provides centralized management of software and licenses, simplifying the process and saving time and effort
  • It offers a cost-effective solution for managing software licenses, reducing overall expenses, and maximizing investments
Cons
  • The initial setup for KACE Systems Management Appliance can be complex
  • The software's reporting capabilities are limited

Pricing

  • Custom pricing.

Challenges in License Management System

License management is a critical aspect of any establishment's software operations. However, there are several challenges that companies often face when it comes to effectively managing their licenses. Let's explore 4 common challenges in detail:

top-challenges-in-license-management-system

  1. License underutilization

    One common challenge is the underutilization of licenses. Many establishments purchase software licenses based on projected needs, but they often fail to fully utilize them. This results in wasted resources and increased costs. To address this challenge, companies need to implement systems that track and monitor license usage. Thus, allowing them to identify underused licenses and reallocate them as needed.

  2. Vendor support

    Another challenge is inadequate vendor support. When establishments encounter issues or need assistance with their license management system, they rely on the vendor for support. However, not all vendors provide timely and effective support, leading to delays in issue resolution and disruptions in operations. To mitigate this challenge, organizations should carefully evaluate vendor support capabilities before selecting a license management system.

  3. License management across multiple platforms

    Managing licenses across multiple platforms is another significant challenge. With the increasing use of cloud-based services and a diverse range of software applications, establishments often struggle to track and manage licenses across different platforms and environments. This can lead to compliance issues, overspending, and difficulty in maintaining an accurate software inventory of licenses.

  4. Lack of visibility

    A lack of visibility into license usage is yet another challenge faced by organizations. Without clear visibility, it becomes difficult to track license usage, monitor compliance, and forecast future needs. Establishments may end up over-purchasing licenses or face compliance risks due to inadequate tracking. To overcome this challenge, organizations should implement robust reporting and monitoring capabilities within their license management systems.

Latest Trends in License Management Software

Software created to track and manage software licenses throughout an organization is referred to as licensing management software. Like many software categories, licensing management software is always changing and adopting new trends. Here we'll see 4 recent trends in license management software.

market-trends-in-license-management-software

  1. Built-in chatbots

    A chatbot is an artificial intelligence program that interacts with human users via chat interfaces. It is becoming increasingly popular in the software industry and is now finding its way into license management software. Some of the license management software on the market now comes with built-in chatbots. These can interact with users and answer questions about licensing agreements and software usage. This enhances the user experience and allows establishments to get prompt answers to their licensing questions.

  2. Automation

    Automation has been a buzzword in the software industry for a while, and it is now making its way into license management software. Nowadays, some license management software uses automation to carry out menial tasks that would otherwise be done by hand. For instance, licensing management software can employ automation to automatically grant licenses to new users, renew those that have expired, or revoke those that are no longer in use.

  3. Subscription and saas license management

    Subscription and Software as a Service (SaaS) models are becoming increasingly popular in the software industry, and license management software is no exception. Some license management software now offers subscription and SaaS license management capabilities, which allow organizations to keep track of their subscription-based licensing models effectively.

  4. Integration with IT systems

    The vast majority of establishments employ a variety of software applications, and it can be difficult to efficiently manage all of the licensing for those apps. Thankfully, some of the software used for license management may now be connected with other types of IT systems. Because of this, establishments are able to simplify their licensing processes and more simply administer licenses across their whole IT infrastructure.

Conclusion

In conclusion, our buyer's guide for the best license management software provides you with a comprehensive list of the top 5 license management software available in the market. It offers establishments an understanding of the features, benefits, and drawbacks of each solution. It is vital to carefully consider these options before choosing the best fit for your firm's specific needs.

FAQs

Yes, the license management platform can manage the licenses for open-source software.

The cost of license management solutions varies depending on the features and the number of licenses being managed. Some software establishments are available for free, while others can cost thousands of dollars per year.

Software license management tools help with software audits by providing a complete overview of the software licenses in use. It makes sure that the establishment is compliant with vendor agreements.

Yes, license control software can help with SAM by providing a complete inventory of all the software in use across an establishment.

Nidhi Raghuvanshi
By Nidhi Raghuvanshi | Last Updated: January 02, 2024