For software vendors, today's economic climate means effective licensing management software is more important than ever. Adapting to changing market needs or competitive pressure with a new pricing model keeps revenue streams going. But as the number of pricing models expands, software product managers face a growing challenge: how to remain nimble but effectively manage the complexities of licensing software and ensure that entitlements for maintenance and support are managed efficiently as well. Effective software license management enables you to unlock revenue, reduce cost while providing the highest quality of service and customer experience.
Best practices: software license management
While you may currently have a home-grown solution to manage software licensing management technology and entitlements, be watchful that your home-grown software does not become expensive to maintain or an obstacle to quickly adapting to changing licensing schemes, new business models, or different markets. Or seek out alternatives that include these best practices:
- Automated entitlement and software license management
Look for solutions that give your license manager a single view into all of your licensing technologies at a glance.
- Flexible software licensing management
Look for solutions that enable complete flexibility in deciding which licensing software terms and pricing models to use in packaging and selling product and solution offerings.
- Electronic software delivery
Essential to meeting changing customer needs, electronic software delivery is also essential to increasing profitability by delivering even multi-component applications directly to end-users in efficient, reliable, secure method.
- Targeted end-user communication
Look for solutions that enable you to connect directly with end-users to deliver software product news, training, upgrades, marketing messages, etc. to further lower the cost of doing business.
Software license management achieves consistency and aids software compliance
Using the software license management best practices and taking a common, automated approach to licensing and entitlement management across product lines will enable:
- More effective day-to-day operations
Having shed light on internal processes, the new licensing management software can help product management rationalize actions, achieve consistencies globally across offices, and improve order processing.
- Improved management of remote operations
A centralized system will be able to link to and interface with back-end accounting and financial systems, allowing remote operations to be centrally tracked and managed.
- Accurate statistics and reports on customer activation and usage
The centralized license management system provides accurate activation and usage statistics. Centralized license solutions will also provide ad hoc instantaneous report capabilities that provide data by customer and entitlement which maximizes efficiency and compliance.
A strong software license manager solution can be the means to more efficient, flexible pricing models and more profitable operations by significantly improving internal operations.