What is meant by License inventory?
The term "license inventory" refers to the total collection of software licenses owned by an organization. The license inventory includes information about the number, type, validity period, and usage rights of the licenses. Efficient management of the license inventory helps companies optimize their software costs, avoid license overages, and ensure compliance.
Typical software functions in the area of "license inventory":
- Inventory Management: Overview and management of all existing software licenses, including their details and status.
- License Assignment: Assignment of licenses to users or devices based on the organization's requirements.
- License Usage Tracking: Monitoring which licenses are actively used and which are not, to ensure effective usage.
- Renewal Management: Managing and notifying about upcoming license renewals or expirations.
- Reporting: Generating reports on the current license inventory and its usage for audits and internal analyses.
- Contract Management: Managing the associated license agreements, including their conditions and durations.