Best License Management Software

The use and re-distribution of software come with a certain grant or permission. There are different forms of Software licenses like permissive, GNU, Reciprocal, Proprietary, and so on. Generally, Software Licenses are based on the number of users, network, subscription, consumption, features, etc.  A license management tool is very critical for an organization that deals with multiple software solutions.  Software License management system can help companies to monitor and manage all types of licenses attached to the usage of different software. By using a licence management solution, companies can avoid legal complications. Have a look at the following list of best license management software;

License Management Software
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List of License Management System Software

  • Spiceworks

    Businesses run better with Spiceworks.
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    Spiceworks was founded in 2006 with a mission to simplify the IT workday, and we’ve been at IT ever since! We’re the global IT marketplace that connects millions of technology buyers and sellers so they can get their jobs done, every day. We help tech professionals find, adopt, and manage the latest technologies while also helping tech brands build, market, and support better products and serv... learn more about Spiceworks

    Entry Level Price
    Free version
    Free Trial
    Available
    16%

    Category Focus

    License Management Software
  • Snipe-IT offers a low latency worldwide network for fast connections no matter where you are. Your data never leaves the region you select when you sign-up.Snipe-IT is open source software. Transparency, security and oversight is at the heart of everything we do. No vendor lock-in again, ever. ... learn more about SNIPE-IT

    Entry Level Price
    Free version
    Free Trial
    Available
    33%

    Category Focus

    License Management Software
  • AssetSonar

    IT Asset Management Software
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    AssetSonar is an IT asset management software that helps you organize, track, and report on your technology landscape from a single space. Built for IT departments with their workflows in mind. AssetSonar saves you time by making it easy to track and manage IT assets across different locations and departments. Effective IT service delivery requires a robust support system to add the most value to ... learn more about AssetSonar

    Entry Level Price
    $69.99 per Month
    Free Trial
    15 days
    50%

    Category Focus

    License Management Software
  • Apptivo

    Attract, engage, retain and delight More customers.
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    Apptivo is a cloud platform of integrated business apps designed for companies of all shapes & sizes. Manage nearly any business task using Apptivo's Apps, from sales & marketing, to billing & support, and everything in between. With Apptivo there is no per-app pricing, get access to the entire platform starting at just $10 monthly per user. Apptivo's online CRM system is a powerful tool to manage... learn more about Apptivo

    Entry Level Price
    $8 per Month
    Free Trial
    30 days
    9%

    Category Focus

    License Management Software
  • Solarwinds Service Desk

    A Service Desk Built Just For You.
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    Service Desk is a fully integrated cloud-based service desk and IT asset management solution. Based on ITSM best practices to create a platform that is as usable as it is cutting-edge by incorporating automation, artificial intelligence, and machine learning to help streamline IT support services and empower employee self-service. SolarWinds Service Desk provides businesses of all sizes an easy to... learn more about Solarwinds Service Desk

    Entry Level Price
    $19 per Month
    Free Trial
    30 days
    20%

    Category Focus

    License Management Software
  • License Optimizer

    Ivanti License Optimizer discovers what software exists in your environment
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    Ivanti unifies IT processes and security operations to better manage and secure the digital workplace.For more than three decades, we’ve built our reputation on helping IT professionals fix their security issues and optimize their user experience. Our sought-after systems are some of the best in the industry. From patch and asset management to IT service delivery and security, our software is ev... learn more about License Optimizer

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    License Management Software
  • Reprise Software

    RLM is enterprise-class software licensing
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    Reprise Software is a profitable, privately held company based in San Jose, CA. We are a premium provider of license management software with an extensive and growing set of worldwide customers. Our flagship product, RLM, protects the revenue streams of hundreds of ISVs and yields the maximum use of licensed software for millions of end users.We continually enhance RLM along our fundamental princi... learn more about Reprise Software

    Entry Level Price
    Contact Vendor
    Free Trial
    Available
    100%

    Category Focus

    License Management Software
  • Soraco

    Software Protection and Licensing Service
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    Quick License Manager protects your application with secure asymmetric license keys. License keys are bound to a specific computer or mobile device. Create time limited trial license keys or a fully automated workflow for subscription based products. Activate licenses online or offline. Automate your sales and license key distribution process with our e-Commerce integration. ... learn more about Soraco

    Entry Level Price
    $200.00 per One-time
    Free Trial
    30 days
    100%

    Category Focus

    License Management Software
  • Black Duck Hub

    The most trusted name in open source management
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    Black Duck by Synopsys provides automated solutions for securing and managing open source software. With the rapid, widespread adoption of open source software, Black Duck is a key component of Synopsys’ Software Integrity Platform, the most comprehensive solution for integrating security into the SDLC and software supply chain.Black Duck Software was acquired by Synopsys in December 2017.Black ... learn more about Black Duck Hub

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    License Management Software
  • SafeGuard LM

    Enterprise-class License Management
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    SafeGuard LM is an all-in-one software license solution for your company. Whether you need simple node-locked copy protection, floating licenses for more sophisticated licensing needs, or the Product Activation Server to automate license fulfillment for demo licenses and paid licenses. SafeGuard LM has all these, plus SafeGuard Manager which is an out of the box manual license generation system w... learn more about SafeGuard LM

    Entry Level Price
    Free version
    Free Trial
    Available
    100%

    Category Focus

    License Management Software
  • OpenLM

    License monitoring, management and control
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    OpenLM is a leading provider of software license management solutions for engineering applications.OpenLM’s innovative solutions enable IT Directors, System Administrators and Software Asset Managers to easily monitor the actual usage and effectively optimize the organization’s engineering software licenses.OpenLM’s platform fully supports FLEXlm, DSLS and other 20 license managers, as well ... learn more about OpenLM

    Entry Level Price
    $1980 per One-time
    Free Trial
    30 days
    100%

    Category Focus

    License Management Software
  • Cryptlex

    Powerful software licensing API
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    Cryptlex provides a complete software licensing solution to help you license your desktop apps, mobile apps, on-premise software, IoT apps, and other digital goods. Cryptlex licensing API lets you implement any software licensing model with node-locked licensing, floating licensing, perpetual licenses, subscriptions, timed trials, and more supported out-of-the-box. Cryptlex allows you to license a... learn more about Cryptlex

    Entry Level Price
    Free version
    Free Trial
    Available
    100%

    Category Focus

    License Management Software
  • Keyzy

    WE MAKE SOFTWARE LICENSING SIMPLE
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    We provide an affordable end-to-end software licensing service on the cloud for small and mid-size companies that develop software for Desktop / IoT / On-Premise / Hardware / Games.Generate, deposit and activate LICENSES you need to run your business, all with KEYZY!In the KEYZY dashboard, you are going to come across 4 different sections for licensing your digital products. We go through each of ... learn more about Keyzy

    Entry Level Price
    Free version
    Free Trial
    Available
    100%

    Category Focus

    License Management Software
  • License Statistics

    GET TO KNOW LICENSE STATISTICS
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    X-Formation is a Danish company focused on providing superior license management solutions that help companies increase the productivity of their business operations and cut costs. X-Formation’s products are used by small to large businesses around the world, including Fortune 500 companies and other billion-dollar corporations such as Siemens, Nokia, NASA, Honda, to name just a few. Our custome... learn more about License Statistics

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    License Management Software
  • SoftwareKey System

    Software Licensing Solutions that Simply Make Sense
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    Copy protection, license management, and online sales automation for enterprise level or single developers. Customization or quick and simple wrappers, our pricing is right and our service will blow you away.Copy protection, license management, and online sales automation for enterprise level or single developers. Customization or quick and simple wrappers, our pricing is right and our service wil... learn more about SoftwareKey System

    Entry Level Price
    $49.00 per Month
    Free Trial
    30 days
    100%

    Category Focus

    License Management Software
  • Sassafras K2

    Spend Less on IT Assets with KeyServer
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    Sassafras Software has a long tradition as innovator and market leader in providing tools for Software Asset Management (SAM). The pioneering KeyServer® product from Sassafras has evolved over the more than 20 years since its initial release into K2 : an elegant, award winning, unified tool set for both Hardware and Software Asset Management designed for today’s complex physical, virtual, and c... learn more about Sassafras K2

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    License Management Software
  • ArmDot

    PROTECTION, SOFTWARE LICENSING TOOL, AND OBFUSCATOR
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    ArmDot obfuscates .Net code by converting to a virtual machine so it is almost impossible to restore the original code.Virtual Machine that makes code completely incomprehensible. The goal is to convert the original code into an illegible form. ArmDot has a proven approach that is widely used for the unmanaged code: the original code is converted into an array of bytes that is interpreted by speci... learn more about ArmDot

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    License Management Software
  • Cryptolens

    License and sell your software securely
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    Cryptolens was founded in June 2017 to address a specific market need: Most software companies struggle to commercialize their applications securely, which is a reason why 43% of all software used globally is pirated. We offer a state-of-the-art cloud service that makes it trivial to launch and protect any kind of software, with unique AI analytics to optimize licensing revenue and capture untappe... learn more about Cryptolens

    Entry Level Price
    $10.00 per Month
    Free Trial
    30 days
    100%

    Category Focus

    License Management Software
  • KEYLOK

    Our service, reliability and three decades in this business sets us apart.
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    A privately held, cutting-edge technology provider of software & hardware security products; Keylok is proudly headquartered in Denver, Colorado. Founded in 1980 by former Martin Marietta engineers, KEYLOK has consistently earned its reputation by providing thousands of customers worldwide affordable software security and licensing solutions for 30+ years.KEYLOK provides hardware-based security an... learn more about KEYLOK

    Entry Level Price
    Free version
    Free Trial
    Available
    100%

    Category Focus

    License Management Software
  • Labs64 NetLicensing

    Monetize your digital products and services
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    Labs64 NetLicensing is a first-class solution in the Licensing-as-a-Service (LaaS) sector. Based on open standards, it provides a cost-effective, integrated and scalable platform for software vendors and developers who want to concentrate on their product’s core functionality instead of spending resources on developing an own license management software. ... learn more about Labs64 NetLicensing

    Entry Level Price
    Free version
    Free Trial
    Available
    100%

    Category Focus

    License Management Software
  • LicenseWatch

    Are you wasting money on unused software licenses?
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    LicenseWatch is the leading solution to keep track of software installations and licenses on your network.LicenseWatch gives you detailed analysis of software installations, usage and license agreements. LicenseWatch delivers the information needed to save time and money.All critical licensing, software and hardware inventory information is integrated into a single management console. ... learn more about LicenseWatch

    Entry Level Price
    Contact Vendor
    Free Trial
    30 days
    100%

    Category Focus

    License Management Software
  • Mirrakey

    Generate CD-Keys and License Keys for Software Activation and Registration
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    As as software developer, you can easily integrate Mirrakey into your development project to provide instant License Key validation. You can also use Mirrakey's built-in License Key Manager to save and retrieve your software's registration information or, if you prefer, you can handle your own Key management. This makes Mirrakey powerful, simple-to-use and flexible. To learn more see a Develope... learn more about Mirrakey

    Entry Level Price
    Contact Vendor
    Free Trial
    30 days
    100%

    Category Focus

    License Management Software
  • Nuvovis

    Software licensing and copy protection
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    A Nuvovis user is someone in your company who creates and manages software licenses. Live Licenses (see Service for details) use more cloud resources and so cost more than standard, machine locked licenses. For standard licenses there is no limit other than a limit on the rate of creation (for a one-off import of pre-existing licenses we can waive the limits; contact support for details). Once you... learn more about Nuvovis

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    License Management Software
  • Softinventive Lab

    License management software help ensure compliance with the terms of legal agreements
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    License management software help ensure compliance with the terms of legal agreements for installed software. Self-performed software license audits help avoid penalties for being underlicensed in your organization. Total Network Inventory makes it easy to perform an internal audit of your software licenses and ensure full license compliance. License compliance management is a key component of sof... learn more about Softinventive Lab

    Entry Level Price
    $135.00 per One-time
    Free Trial
    60 days
    100%

    Category Focus

    License Management Software
  • CrypKey

    Software License Management & Software Copy Protection Solutions
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    CrypKey is trusted by many developers to ensure secure distribution and licensing of their software, and now also offers powerful encryption options to protect PDF, PowerPoint, audio, and video files.We want our solutions to work for you. We are not just in the business of selling software. We want you to find a protection solution that meets your needs. We will tell you up front if we are not a g... learn more about CrypKey

    Entry Level Price
    $97.00 per Month
    Free Trial
    Available
    100%

    Category Focus

    License Management Software
  • Torii

    SaaS management for Modern IT
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    Torii is the most advanced SaaS management platform on the market. Discover, optimize, and control your organization’s SaaS usage and cost from a single hub.
 With the rapidly growing number of SaaS solutions on the market every day, and the access to those SaaS being available with a click of a button, today’s Modern IT work is more challenging than ever. SaaS adoption is a positive trend. ... learn more about Torii

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    50%

    Category Focus

    License Management Software
  • LiVe

    RIGHTS AND LICENSE MANAGEMENT CLOUD SOLUTION
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    LiVe is a complete cloud solution allowing you to professionally manage all of your rights, licenses and royalties in one single place. Live is a pre-configured cloud system ready to go. Starting your LiVe-experience only takes a few clicks. No need to install software or buy hardware. Simply login, use it, and feel the high performance of a bleeding edge in-memory database running at your fingert... learn more about LiVe

    Entry Level Price
    $101.56 per Month
    Free Trial
    N/A
    50%

    Category Focus

    License Management Software
  • Revenera FlexNet Code Aware

    FREE Automated Open Source Risk Assessment & Package Discovery
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    FlexNet Code Aware is a free code scanner that scans Java, NuGet and NPM packages looking for license compliance, IP, and security vulnerability risks. An automated, high-level package analysis, Code Aware helps development teams deliver secure products to customers while protecting IP and avoiding reputation damaging litigation. After running the first scan, uncover leading operational risk indic... learn more about Revenera FlexNet Code Aware

    Entry Level Price
    $0 per One-time
    Free Trial
    N/A
    100%

    Category Focus

    License Management Software
  • FlexNet Code Insight

    Take control of your open source software management.
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    An on-premise Software Composition Analysis solution using automated scans to help organizations understand their license compliance and security vulnerability exposure to open source packages. FlexNet Code Insight easily provides users with a Software Bill of Materials from across the software supply chain and offers continuous monitoring of assets, proactive vulnerability alerts, and recommended... learn more about FlexNet Code Insight

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    License Management Software
  • FlexNet Operations

    Entitlement Management: Efficiently Operate Your SaaS, IoT and Software Business
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    Award-winning Entitlement Management enables you to monetize software effectively and manage compliance and customer growth. It supports all monetization models—from more traditional perpetual models to flexible subscription and pay-per-use models. FlexNet Operations empowers you to manage entitlement management and the corresponding software delivery, update and licensing processes for embedded... learn more about FlexNet Operations

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    License Management Software
  • FlexNet Licensing

    Monetize and Protect Your Applications with Flexible, Robust & Secure Software Licensing Technology
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    FlexNet Licensing offers flexible implementations to help you launch new business models, protect your IP and reduce the risk of revenue loss. FlexNet Licensing technologies – FlexNet Publisher and FlexNet Embedded – are the de-facto standard for software licensing and compliance management. It’s part of our complete Software Monetization Platform, providing application security and protecti... learn more about FlexNet Licensing

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    License Management Software
  • Track-It!

    Manage emails from users, tickets, change requests, purchase requests and IT assets
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    Track-It! 2020 is the latest in a long line of releases, each one taking the concept of what an IT help desk can achieve to the next level. With Track-It! 2020 we’ve once again delivered a powerful suite of integrated IT management features at an affordable price. At the heart of Track-It! is the Help Desk, which provides you with a 360-degree view of your incidents, problems, and change request... learn more about Track-It!

    Entry Level Price
    Contact Vendor
    Free Trial
    Available
    33%

    Category Focus

    License Management Software
  • FOSSology

    Open source license compliance software system and toolkit.
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    FOSSology is an open-source license compliance software system and toolkit. As a toolkit, you can run license, copyright, and export control scans from the command line. As a system, a database and web UI are provided to give you a compliance workflow. License, copyright, and export scanners are tools available to help with your compliance activities.... learn more about FOSSology

    Entry Level Price
    Free version
    Free Trial
    Available
    50%

    Category Focus

    License Management Software
  • License Dashboard

    Software Asset Management technology
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    Using License Dashboard’s software asset management platform or services, you can expect to see immediate software cost savings on software licenses in the first year of up to 30%, with further savings year on year to follow. This is achieved by accurately discovering and reporting the entire software estate on your network, highlighting duplicate applications, unused programs, and shadow IT, as... learn more about License Dashboard

    Entry Level Price
    Contact Vendor
    Free Trial
    30 days
    100%

    Category Focus

    License Management Software
  • Expiration Reminder

    Expiration and Renewal tracking software.
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    Expiration Reminder automatically tracks expiration dates for employee certifications, contracts, licenses, insurance, and more. With over 10,000+ contacts tracking expirations in over 40 countries organizations are drawn to our software for how easy it is to use. When using Expiration Reminder, no expiration date falls through the cracks keeping organizations compliant all the time. ... learn more about Expiration Reminder

    Entry Level Price
    $29 per Month
    Free Trial
    N/A
    50%

    Category Focus

    License Management Software
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Buyer’s Guide

Introduction to Buyer’s Guide For License Management Software

Software programs have a profound impact on business enterprises.  Whether a software is used in the office for administrative work or at the manufacturing site for controlling the production, under whatever application,  it has enabled businesses to excel in all respects. However, to utilize these software programs securely, businesses need to use the licensed version of the software. They have to abide by the software copyright agreement and guidelines mentioned by the software publisher. It helps software proprietors to protect their rights to copy, sell, distribute, and modify the software product.  From users’ perspective, an illegitimate copy of the software can create problems such as performance issues and cybersecurity threats.  Besides that, the copyright owners can take legal action against the violation of their software rights. Even the users who are using the licensed version and do not upgrade to the latest version are prone to penalties and legal actions.  It is essential that businesses follow software license management best practices to avoid legal action or penalties. 

The conventional approach for license management does not give a clear view of software utilization. In such circumstances, license management software provides the perfect solution to tap on every detail of the software license. During the entire life cycle of the software solution, the license management ensures that users access the software’s authenticated copy and receive regular updates. However, selecting the right license management software is quite challenging as the budget and business requirements may not be the same for all organizations.

This buyer guide on license management software is designed to help business owners select the right software for the organization. It emphasizes some key points about the license management software, which could help users understand the software capabilities on a broader spectrum and decide on the top license management software. 

Why is License Management Essential For an Organization?

Software vendors have become more conscious about their intellectual property and want to ensure that nobody misuses their software solutions. Software with a licensed version is beneficial not only for the software vendors but also for the customers. It helps them to secure their system from cyber threats and malware. However, business enterprises that use many software solutions usually face difficulties in tracking software licenses. A concrete license management system can make it a lot easier for the organization to manage various software licenses.

License management can help users monitor all the details about the software, such as its expiry date or software version. It helps users to avoid the penalties and keep their organization upto date about the software inventory. The license management process optimizes the software usage and allows an organization to smoothly run its regular business activities. Eventually, it helps in boosting the company’s revenue and working efficiency.

What Are the Different Types of Software License Models?

For most organizations, maintaining compliance with the software license agreement is a critical issue. By understanding various software license models, it becomes quite easy to maintain software compliance and reduce the company’s IT costs.

  • Device License (Node-locked license): Some software vendors offer their services on a per-device basis. It means the software provider grants the user permission to install and operate on a specific device such as a computer, laptop, or data center device.
  • Network License (Floating license): This software license type is quite popular, especially in the organization with more employees. Network licensing gives access to all the users and devices connected to the specific network.   
  • Public domain license: This type of license is free to use by the public and can be distributed freely without payment.
  • Permissive License: Permissive license is somewhat similar to a public domain license, but it may have few restrictions on how the end-users modify and distribute the software.
  • LGPL (Lesser General Public License): Lesser General Public License is a free software licensed created by Free Software Foundation (FSF). The license allows developers and companies to use the software released under LGPL into their own components.  However, the developer who modifies the LGPL covered component has to make the modified version available under the same LGPL license.
  • Restrictive (Copyleft/ Reciprocal): Restrictive license, also known as copyleft or reciprocal licenses. The copyleft or restrictive license grants the right to change, modify or distribute other people’s work just like open source software.  However, in the copyleft license, the modified product must be distributed with the same copyleft license attached to the original software.  
  • Proprietary (Subscription/ Perpetual licensing): Proprietary software is referred to any software that has a copyright, and it does not allow modification or distribution of the software.  It is also known as commercial or closed source software.   Generally, there are two types of proprietary software- subscription or perpetual type. Perpetual software license grants permission to use the software for an indefinite period, but a subscription-based software license is purchased on a monthly or yearly basis.
  • Metered license: In a metered-based license, the software vendor collects licensing fees based on how frequently users access specific application features or resources.  The software vendor measures variables such as number of database queries, number of CPU cycles consumed, total use time, etc.
  • Named user:  A named user license is bound to a specific user.  This type of software can be installed on multiple systems, but only the named user can use the software.
  • Concurrent User:  In a concurrent user license, the organization purchases the software licenses for a particular number of users. For instance, the organization buys concurrent licenses and registers 5 users on them; it means that at a given time, only 5 users can access the software and denies access to any other users until a license becomes available.  
Based on their size and budget, organizations choose software license models, and managing them efficiently could make a huge difference in enhancing the business revenue.  However, the traditional approach for license management has got few barriers that limit the usage of these software solutions. 

What Are Some Common Challenges In Managing Software Licenses Manually?

  • More administrative work: Keeping a record of software licenses manually, such as software renewal, software expiration date, payment, etc., could be a daunting task.  It requires more documentation and administrative work.   
  • Compliance issues:  It is a challenging task to track software compliance with a manual approach. Software vendors offer various compliance rules for their products, and for users, it would be difficult to check all the software compliances with the manual method.
  • Limited visibility: In large enterprises, the employees subscribe to various software solutions and agree to a license agreement without taking the IT department in the loop. In such a scenario, it is impossible for the organization to keep an eye on all software and subscription licenses.     
  • Inaccurate data:  Managing software licenses manually can be a tiresome job and inaccurate.  There is always room for human errors and risks of logging wrong information about the software details such as expiry date or renewal. Any minor error can add extra costs to the organization.
  • Node-locked: Software licensing model like node-locked is restricted to particular hardware devices. It means if someone wants to access the software from a different location, then he has to physically move the device to that place.

These challenges of the conventional approach for license management restrict the complete utilization of licenses already purchased and minimizes the ROI on software solutions. Business enterprises can eliminate these roadblocks by adopting the best software license management tools.

What Is License Management Software?

License management software is a tool that facilitates easy and safe management of software licenses during the entire software life cycle.  During each stage of the software life cycle - purchase, deployment, maintenance, utilization, and disposal the license management software ensures that there are no issues in utilizing the software services.  It determines how software needs to be procured and deployed in the organization.

SLM (Software License Management) software is an essential part of IT asset management and offers features to help business enterprises to avoid problems associated with software non-compliance.  License management software solutions can be very productive for businesses managing multiple software solutions. It holds important details about the software, such as date of purchase, invoices, software warranty details, costs, and license expiration dates. License management software not only protects the software copyrights but also helps customers to use the secure version of the software.    

Software license management solutions can be just like any other software solution in the organization, but it plays a major role in managing other software solutions. Before considering any software for business, the organization should first invest in the top license management software and analyze their benefits in-depth.

What Are the Benefits of License Management Software?

  • Cost Saving: Best software license management tools keep watch on the underutilized software licenses and suggest reducing the subscription on such software products.  The license management system is also efficient in tracking software usage and determines which licensing model can give higher ROI.
  • Minimizes risk of noncompliance:  When software users agree to terms and conditions, they also agree to their compliance policies.  Business license management software performs regular audits to track whether the organization adheres to regulatory compliance.  It helps to avoid noncompliance penalties.
  • Strong security: Usually, hackers target the area that is weak and have aging assets.  It gives them easy access to the system rather than hacking the system with firewalls. Software that is not upgraded or outdated can be an easy access point for hackers and pose a security threat to the organization. Best software license management tools track the license for all the software in the organization and inform users about the aging software. 
  • Better visibility of IT infrastructure:  Business license management software can give better visibility to IT staff on the software license renewal whenever an employee raises requests for a new software installation.  Software license management system helps IT staff to review all the details of software license quickly and decide on buying new software licenses.

Essential Features of License Management Software

  • License tracking and license inventory
  • License entitlement management
  • Alerts and notification
  • Dashboard/reporting
  • Automated discovery
  • Payment services
  • Technical support
  • Product activation
  • Copy protection
  • Renewal management

How to Select the Best License Management Software?

  • Third-party integration: Support for the third-party tool is necessary for software license management solutions. For instance, it should support a payment provider or e-commerce engine.
  • Reporting:  The best license management software should have the reporting features and give users details about the metrics such as usage, software renewal, performance, etc.
  • Strong security: Security is paramount when considering software license management solutions.  Weak security can become an access point for hackers to software products.  It is necessary that there are strong security features embedded with the license management tool.  
  • Customer support: Using software license management tools could be tricky sometimes and requires technical support.  The users should ensure the license management software features also include strong technical support.   
  • Pricing: Before buying a software license management solution, it is advisable to see whether the software price is within the budget. There are both paid and free versions available in the market, and based on business requirements, users should decide to buy the software.  
  • Software deployment options:  While considering the top license management software, users must determine the best deployment option based on their organization’s requirements.

How Effective Is SaaS-Based License Management Software?

Yes, SaaS-based license management software is effective, as it is a centrally hosted model and is a subscription-based facility. Saas-based licenses are cloud offering which allows the users to use all the cloud-based software from the Vendor. SaaS-based license management software is cost-effective, saves time, is scalable, enables easy upgrades, integrates with other cloud software from the vendor, and above all, it is easy-to-use.

What Are the Best Practices For Software License Management?

  • Use license management software: Previously, users have to search manually to discover software installed on the server but software license management tools offer a feature such as "automated discovery." It helps business owners to automatically find software used by the employees and track all the details about its license. A license management software offers many other features that could make license management tasks very easy.
  • Update inventory:  A list of all the installed software should be maintained with easy updates whenever new software is added.
  • Track software usage: Track software usage to get a better idea of its adoption rate. It helps business owners decide on the renewal of the software or opt for a lighter version.
  • Internal audit:  Business owners can conduct an internal audit regularly and perform regular checks on software updates.
  • Implement strong policy: A strong policy on software procurement is necessary to avoid the risks of installing the wrong software or expensive software that has minimum use. The policy should ensure that organization employees do not download software from the Internet without approval.
  • Software compliance:  Use license management software to ensure that the software has license compliance.
  • Uninstall old applications: Remove all the old applications to save the organization from licensing costs.

Future Trends In License Management Software

  • Blockchain technology:  Blockchain technology has dramatically influenced sectors such as financial services, insurance, supply chain, and logistics, etc.  The decentralized mechanism of blockchain also has wide application in software license management.  It can enhance the traceability of the software and prevent the installation of the software when it expires. It can also reduce the risk of the system being corrupted with the use of duplicate or non-valid keys.  Many companies are already using blockchain technology for asset management, and there is massive scope in license management too.
  • AI and ML:  AI and ML are intelligent in their approach, and they can change how users can track the software licenses.  For instance,  ML can learn by itself from the manual processes and determine the right number of licenses the organization requires for carrying out business.  It can save the organization’s time and costs involved in short-listing software solutions.

What Is the Average Cost of License Management Software?

The average cost of license management software could be anywhere around $10/month to $97/month or plus. The pricing can vary based on the number of users or number of active licenses; the prices also differ depending on the type of deployment (on-cloud or on-premise). Some license management software providers also offer a hybrid version that allows users to take advantage of both cloud and on-premise. License management software comes as a standalone solution or bundled with enterprise license management software.

  • License management software for small businesses and startups:  Small businesses and startups usually consider low-budget tools as they have to operate the business with limited resources.  License management software such as Cryptolens at a price of $10/month offers some outstanding license management software features with a low pricing.   The other tool that is a good alternative for startups and small businesses is Solarwinds Service Desk which comes at a starting price of $19/month.  The software covers a range of features such as IT asset management, problem management, change management, etc., including software license management.  The user-friendly interface and interactive dashboard give a complete insight into the software licenses. With such pricing and features, the software certainly stands out as one of the best license management tools. Both these tools offer a free trial. The other tools that could fall in the same slab include Labs64 NetLicensing, Apptivo, and Fossology.

  • License management software for mid-size and large scale businesses:  Mid-size and large-scale businesses often use multiple software solutions, and managing licenses for each software solution requires a robust license management software solution.  It should be able to handle multiple software licenses as well as automate periodic scans to keep track of software inventory. Softwarekey System is the best tool for mid-size and large-scale businesses at a starting price of $49/month. Their extensive features and their support for countless licensing models make it the most eligible tool for license management.  For those users who are interested in a complete IT asset management tool, AssetSonar at a price of $69.99 is an ideal choice.  The tool also supports third-party tool integration and detail reporting ability. In case if users want a particular feature for their tool, they can even send a request to the software vendor. The other tools that more or less fall in the same category include LicenseWatch, Soraco, Softinventive Lab, and FlexNet Code Insight.  The users can also opt for premium license management software that provides strong industry-leading security and flexible software licensing models. Crypkey SDK is a popular license management solution in a premium range at a starting price of $97/month.  The tool supports a wide range of licensing models and implements intelligent network license management.
  • Free and open source license management software: Free and open source license management software gives users the flexibility to customize software features without exceeding their budget.  The users can discover the capabilities of the software without bearing any software development cost, which makes free and open source license management software ideal for small businesses and startups.

Why Refer to Goodfirms' List of Best License Management Software?

GoodFirms today stands as a robust review and rating platform for IT solutions.  The platform has a well-analyzed listing of software solutions spanning various industries and sectors.  Users can pick up the software filtering on various factors and select a reliable IT product to enhance the efficiency of the business processes.  They can compare software products on pricing, features, services, etc., to ensure that they select the right software solution and maximize the ROI.

Conclusion

In order to get the maximum benefits from any software, accessing them in a safe, and legal way is more important.  It is essential that users follow all the licensing guidelines and agreements for secure deployment of the software in their IT infrastructure.  Any negligence in implementing the software licensing rules could bring penalties to the users as well as the risk of cyber threats. In order to avoid these risks, organizations can opt for license management software. License management software features such as license inventory tracking, renewable management, alerts and notifications, etc., makes software bearers’ job quite easy.

Shortlisting the top license management software could be an overwhelming process but with GoodFirms,  the process becomes quite easy. Do not miss to check the list of top license management software exclusively prepared by the GoodFirms’ expert team.