Software Asset Management’s Significance in 2023 and Beyond!

Software Asset Management (SAM) is a key part of any software project.

The process of managing and using software assets economically and efficiently involves planning, implementing, disposing, and controlling to optimize their performance, business use, and other benefits.

It ensures that you get value for money when making software purchases.

Without it, you are exposing your business to compliance risks which can be an expensive legal burden for you.

What does Software Asset Management do?
SAM is a process, not a product. It’s not a set of tools or lists of licenses.

In other words, SAM is an approach to managing software assets that allow you to reduce risk and improve the quality of life for your organization.

The term “asset” should be understood broadly: it can be any digital asset, including physical machines and code depositories (email accounts).

It involves planning, implementing, disposing, and controlling to optimize their performance, business use, and other benefits.

It ensures that you get value for money when making software purchases.

Why do we need Sam?
Software Asset Management (SAM) is a software-buying strategy that gives you the tools and knowledge to ensure you get value for money when making software purchases.

It helps you avoid buying unnecessary software, while also helping to ensure that the right tools are purchased at the right time.

SAM ensures that as well as being able to spend less on each project, there are also fewer projects overall because they’ve been prioritized into a simpler, more streamlined workflow process.

This means less time spent gathering data and planning projects; instead, it’s all done beforehand so everyone knows exactly what needs doing next!

Without it, you are exposing your business to compliance risks which can be an expensive legal burden for you.

Software assets can be very expensive, complex, and difficult to maintain.

This means that if there is no process in place, there will likely be a lack of control over these assets, which could lead to costly errors being made or, even worse, disregarding regulations such as GDPR, etc.

It helps to increase productivity in your business by ensuring processes are streamlined and optimized.

It ensures that you get value for money when making software purchases.

Without it, you are exposing your business to compliance risks which can be an expensive legal burden for you.

This helps companies to have agile software processes within the company and with customers.

The importance of having agile software processes is that it helps companies to have flexible, adaptable, and transparent processes within the company as well as with customers.

This enables them to respond quickly when new requirements arise and/or changes in technology happen.

The term “agile” comes from the Agile Manifesto, which was published by Ericsson Software Architect Richard Beck in 2003, but has been around since at least 1995 when James Bach coined the term “agility”.

Software asset management is important for getting value out of your software investment.

It helps to ensure that you get value for money when making software purchases and that the process of using it is efficient and streamlined.

What the future holds for SAM?
This approach to managing software is still very much alive.

One report also suggests that the size of the worldwide software asset management market is anticipated to increase over the forecast period at a Compound Annual Growth Rate (CAGR) of 18.1, rising from USD 2.0 billion in 2021 to USD 4.8 billion in 2026.

Software asset management was designed to allow companies to get a handle on their software licensing portfolio,

Making sure they had enough licenses to cover the number of people using the software but not so many that they were wasting money on unneeded licenses.

The goal was to reduce costs and avoid audits where possible.

SAM Will Be More Than Just License Compliance:
Along with the rise of SaaS comes the rise of cloud services brokers, who help customers leverage public clouds for a wide range of applications.

SAM has been working its way into this role, helping customers understand their SaaS app portfolios and keep tabs on what devices are connected to those licenses.

For example, users might have logged into an app via a mobile device that rarely gets used anymore.

SAM also can help identify shadow IT apps and services being used by your employees that haven’t been approved by IT.

Furthermore, software reporting tools now come with capabilities such as visualization (which make it easier for IT teams and business managers to understand how many software licenses are in use),

Dashboards that help managers understand exactly how much is being spent on IT (which could potentially lead to cost-cutting), and machine-learning algorithms that help detect security vulnerabilities or malware in virtually any enterprise application before it can turn into an incident.

SAM is a must for any business wishing to get the most out of its software investment and you must take control of your software asset management procedures.

Are you ready to take your SAM skills to the next level? Check out our Software Asset Management Certification program and start your journey to becoming a SAM expert today!

For more info visit our site page: https://blog.gsdcouncil.org/software-asset-managements-significance-in-2022-and-beyond/

If you are intereted: https://www.gsdcouncil.org/certified-software-asset-manager

Thank you for reading!