What is Software Asset Management (SAM)?

Software asset management (SAM) is an IT process for tracking and managing software licenses, installations, versions, and usage. SAM ensures that a business only invests in the software it needs while avoiding issues with compliance and security. It involves keeping track of all software products used within an organization; their quantity, cost, license terms, and usage to ensure they are not over or under-utilized.

Software asset management is also about more than just buying licenses: It covers acquiring, installing, configuring, maintaining, upgrading, patching, and renewing those licensed products. Organizations use SAM to ensure they purchase the correct number of licenses for each product they use; improve license management practices; prevent costly overspending on software licenses; and protect against potential risks such as non-compliance with software vendors’ licensing terms.

Software asset Management is an essential process in a world where business is intrinsically interwoven with technology, so understanding it is essential for anyone who wants to improve their productivity and security. 

Below you will find a helpful guide to SAM. In it, we explore the key benefits of SAM and everything you need to get you on track to have the strongest software asset management system you can. So let's dive in. 

Key Software Asset Management Benefits

Software asset management can bring a variety of benefits to an organization, from cost optimization to improved productivity. Below are some of the key SAM benefits. 

Cost Optimization

Organizations can save money by avoiding unnecessary license purchases or paying for unused licenses. By carefully tracking which products are being used, organizations can identify under-utilized assets that could be reallocated to other departments or returned to the vendor for a refund. Additionally, SAM helps companies negotiate better deals by ensuring they don’t pay more than necessary for products they already own.

Improving Productivity

With SAM tools, organizations can automate mundane tasks such as tracking license expiration dates and managing compliance reports. This frees up employees’ time so they can focus on more important tasks such as developing new applications or improving existing ones. Additionally, having a centralized system for keeping track of installed software, compliance levels, and usage data can streamline operations, reducing errors that can arise from manual processes.

Automating Key IT Processes

Software asset management tools can automate key IT operations such as inventory tracking, compliance reporting, and software installation and deployment. This helps to reduce the time it takes for manual processes. Additionally, automation ensures that all processes are completed accurately with no errors or missed steps.

Improved Security

With SAM you have better control over the software versions installed in your organization. Out-of-date applications may be vulnerable to security threats so having a system that can identify these potential risks is essential for preventing data breaches. Additionally, SAM systems can provide detailed usage reports which allow organizations to track user activity and monitor suspicious behavior.

How Do You Create a Software Asset Management Team?

Creating a successful SAM team starts with having the right people in place. This includes both internal staff and external vendors/consultants who can help manage and maintain your software assets. Below are some tips for building an effective SAM team:

 

• Set up a dedicated IT asset management team, including software asset managers, licensing administrators, compliance officers, procurement staff, and IT support personnel.

 

• Have a clear understanding of each individual’s roles and responsibilities within the team to ensure they all work together effectively.

 

• Establish strong relationships with vendors to ensure the best possible pricing when purchasing licenses or renewing existing ones.

 

• Develop policies and processes related to software usage, installation, and maintenance that must be followed by all team members.

 

• Utilise software asset management tools such as asset tracking software or license management system to help automate and streamline processes.

 

• Regularly review and update policies and procedures to ensure they remain compliant with all relevant laws and regulations.

How to Get Started With Software Asset Management

Software asset management can seem like an overwhelming task, but it is possible to get started with just a few simple steps. Below are some things to look at to get you on the right track. 

Understanding Your Licences 

The first step to effective software asset management is understanding your licenses and the products they cover. You should know which products you own, how many licenses you have, and where each product can be installed. Additionally, you should also review any restrictions that may be imposed by the vendor when it comes to using their software.

Regular Health Checks Through an Auditing Process

Once you understand your current licenses and software, the next step is to conduct regular health checks. This can be done through an auditing process that looks at installed applications, usage data, and compliance levels. The results of these audits will help you identify any potential risks or violations, allowing you to take corrective action before it’s too late.

Optimizing License Uses

Next, it’s important to look for ways to optimize your license uses and costs. There may be opportunities to reduce the number of licenses you need or switch to a more cost-effective option. You should also keep an eye out for any special offers that may save you money in the long run. 

Leveraging Vulnerability Management Tools

Lastly, you should leverage vulnerability management tools to ensure your organization remains secure. Tools like Nanitor can scan your system for potential vulnerabilities and provide detailed reports that highlight any areas of concern. This can help you take proactive steps to address security issues before they become a major problem. 

What Are the Key Drivers of Software Asset Management?

Software asset management is an essential part of any organization’s IT strategy, and there are several key drivers that must be taken into consideration. Effective SAM should ensure compliance with all relevant laws and regulations, optimize the use of software licenses to reduce costs, and help organizations save money by avoiding unnecessary purchases.

Compliance

One of the most important aspects of software asset management is ensuring compliance with all applicable laws and regulations. This includes making sure your organization follows industry best practices for software licensing, as well as staying up-to-date on changes in legislation that could affect how you manage your assets. Failing to do so can result in costly fines or other penalties. 

Optimization

Effective software asset management should also focus on optimizing license usage to reduce costs. This could involve switching from expensive direct purchases to more cost-effective subscription models or finding ways to consolidate multiple licenses into a single purchase. Optimization also involves determining if the software is necessary, under-utilized, or if staff require extra training to be able to use programs to their full capacity.  

Savings

Finally, software asset management can help organizations save money by avoiding unnecessary purchases. This could involve monitoring usage trends to detect if additional licenses are needed or making sure that existing licenses are used properly and not wasted on applications that aren’t being utilized. Additionally, it could also mean taking advantage of discounts or special offers from vendors for bulk purchases. 

Know Your IT Infrastructure in Real-Time: SAM & ITAM (IT Asset Management)

Having a robust software asset management (SAM) process in place is essential for any organization that relies heavily on IT infrastructure. SAM helps you keep track of the software licenses and hardware assets you own, as well as their associated costs. It also provides real-time visibility into your IT environment, so you can quickly identify and address any potential problems or inefficiencies before they become major issues.

Additionally, having an effective IT asset management (ITAM) system in place is equally important for organizations that want to gain full control over their IT assets. ITAM is a comprehensive system that helps you understand and manage the life cycle of all hardware and software assets. It provides detailed information about your IT infrastructure, including asset types, owners, usage data, configurations, and warranties.

By combining SAM and ITAM tools, you can gain full visibility into your IT environment in real time. This will help you optimize costs by reducing unneeded purchases or subscriptions while ensuring compliance with applicable laws and regulations. 

Additionally, having access to up-to-date information about your assets will make it much easier to identify any potential risks or violations before they become an issue. Ultimately, this should result in cost savings for both time and money!

Software Asset Management Needs to be Part of the Larger Vulnerability Management

Software asset management should be part of your organization's larger vulnerability management strategy. This means understanding the vulnerabilities present in your IT infrastructure and taking steps to mitigate them. Vulnerability management involves more than just software asset management and includes activities such as patching, secure configurations, application security testing, and user education.

When it comes to vulnerabilities, SAM can help you stay on top of any potential problems by providing real-time visibility into all assets within your organization's IT environment. This includes software versions, configurations, licenses, and usage data that could identify which systems are most at risk or where unauthorized changes have been made. Having this information readily available will enable you to quickly address any issues before they become critical problems.

Is Software Asset Management Worth the Time and Effort?

Software asset management is worth the time and effort for organizations that rely heavily on IT infrastructure. Not only can SAM help you optimize costs by reducing unneeded purchases or subscriptions, but it can also give you real-time visibility into your environment so that any potential risks or violations are identified quickly. Keep in mind that not every business needs the same level of management.  As such, organizations should determine which level of SAM is best for them based on the size and complexity of their IT infrastructure. By investing in a comprehensive SAM strategy, you can ensure that your organization remains compliant with applicable laws and regulations while also optimizing costs. 

Using Software Asset Management Tools 

Overall, investing in software asset management tools can help organizations save time and money while ensuring compliance with applicable laws and regulations. Using software asset management tools can help organizations easily analyze all of their IT assets in real-time, providing visibility into their IT environment and quickly detecting any known issues that need to be remediated.

Nanitor's comprehensive SAM solution enables organizations to collect detailed data about their hardware and software assets such as versions, configurations, licenses, warranties, and usage information. This makes it easy to identify vulnerabilities or potential violations and take action before they become a major issues.

Nanitor's SAM solution also allows companies to easily 'whitelist' or 'blacklist' vendors or software, making it much easier to mitigate risk before it even has a chance to create problems.

Nanitor makes it easy to track your IT assets in real-time, identify potential risks or violations quickly and optimize costs over time.  By using a powerful tool like Nanitor, you can rest assured that your organization is well-positioned to stay compliant and reduce its overall costs. To find out more about Nanitor's SAM solutions or other vulnerability management services, click here to arrange a free demo.

Conclusion

Software asset management is a powerful tool that can help organizations stay on top of their IT infrastructure and optimize overall costs. By investing in SAM tools, organizations can easily gain real-time visibility into all of their hardware and software assets, quickly identify any potential risks or violations, and take action to mitigate them proactively. Investing in an effective SAM strategy now will ensure long-term compliance with applicable laws and regulations while also helping to reduce costs over time.