The 10 Best Software Asset Management Tools in 2024

As the software industry is constantly evolving, with new applications and software being developed every day, organizations are under pressure to keep up with the changing software landscape. So, they must be focused on managing their software assets effectively to ensure compliance, minimize costs, and reduce risks.

Another major reason is that the licensing models for software products can be complex, with different vendors offering various licensing options. Software Asset Management (SAM) tools can help understand these licensing models and manage their software licenses accordingly. Furthermore, organizations often have a diverse IT infrastructure, with software applications running on different operating systems, platforms, and devices. SAM tools must be versatile enough to handle this diversity and provide comprehensive management capabilities across the entire IT infrastructure.

Software asset management is also a critical component of IT governance and compliance. Many industries, such as healthcare, finance, and government, have strict regulatory requirements for software management. Hence, SAM tools can help organizations comply with these regulations and avoid costly fines and legal issues.

With so many SAM tools available in the market, choosing the right one can be challenging. In fact, many popular ones come with a standard set of features that accelerate and simplify how software assets are managed.

So, in this article, we’ll take a look at some of the best software asset management tools available in 2023 with features that make them unique.

The 6 Best Software Asset Management Tools in 2023

Certero for Enterprise SAM

Application Recognition: Certero for Enterprise SAM uses advanced algorithms to recognize applications based on their digital fingerprints. This helps ensure accurate software recognition and inventory, even for complex and custom-built applications.

Automated Normalization: Certero for Enterprise SAM provides automated normalization of software titles and versions, allowing you to easily compare software usage data with license entitlements and contracts. This helps ensure compliance and optimize licensing costs.

Intelligent License Reconciliation: Certero for Enterprise SAM provides intelligent license reconciliation capabilities, allowing you to reconcile licenses across multiple publishers and models. This helps optimize licensing costs and avoid compliance risks.

Self-Service Software Requests: Certero for Enterprise SAM provides self-service software request capabilities, allowing users to request software installations directly from the Certero portal. This streamlines software asset management processes and reduces manual errors.

Integration with Cloud Services: Certero for Enterprise SAM provides integration with cloud services such as AWS and Azure, allowing you to monitor and manage cloud software assets alongside on-premises assets. This helps you manage your software assets in a hybrid environment and optimize licensing costs.

ServiceNow Software Asset Management

Automated Workflows: ServiceNow Software Asset Management provides automated workflows for managing software assets, including software requests, approvals, deployments, and retirements. This streamlines software asset management processes and reduces manual errors.

Software Asset Management, Lifecycle management

Software Reconciliation: ServiceNow Software Asset Management provides software reconciliation capabilities, allowing you to compare software usage data with software licenses and contracts to ensure compliance and optimize licensing costs.

Customizable Compliance Policies: You can create and customize compliance policies in ServiceNow Software Asset Management to meet your organization’s specific needs. This helps ensure that your software assets are always in compliance with licensing agreements and regulations.

Software Usage Analytics: ServiceNow Software Asset Management provides software usage analytics, allowing you to track software usage and identify opportunities to reduce software costs and optimize licensing. This helps you make informed decisions about your software assets and avoid compliance risks.

Integration with Third-Party Tools: ServiceNow Software Asset Management integrates with third-party tools, such as Flexera and Snow Software, to provide a comprehensive view of your IT infrastructure. This allows you to manage both software and hardware assets from a single console and optimize IT service management processes.

Ivanti IT Asset Management

Automated Discovery: Ivanti IT Asset Management provides automated discovery of software installations across your network, including on remote and mobile devices. This makes it easy to track and manage your software assets, even in large and complex environments.

License Compliance: The software asset management module in Ivanti IT Asset Management helps you manage license compliance by tracking software usage across your organization. It can alert you to potential compliance issues before they become costly problems.

Software Reclamation: Ivanti IT Asset Management provides software reclamation capabilities, allowing you to reclaim unused software licenses and reduce software costs.

Customizable Dashboards: The Ivanti IT Asset Management console provides customizable dashboards that allow you to monitor software usage, license compliance, and other metrics in real-time. This helps you make informed decisions about your software assets.

Integration with other Ivanti Products: Ivanti IT Asset Management integrates with other Ivanti products, such as Ivanti Service Manager, to provide a comprehensive view of your IT infrastructure. This allows you to manage both software and hardware assets from a single console and streamline IT service management processes.

BMC Helix Discovery

Agentless Discovery: BMC Helix Discovery provides agentless discovery of software installations across your network. This means you don’t need to install any agents on devices to discover and manage your software assets.

Automated Mapping: The software asset management module in BMC Helix Discovery provides automated mapping of software installations to hardware assets. This helps you understand the relationships between software and hardware assets and ensure compliance with licensing agreements.

Cloud and On-Premises Deployment: BMC Helix Discovery can be deployed both in the cloud and on-premises, giving you the flexibility to choose the deployment option that best suits your organization’s needs.

Continuous Discovery: BMC Helix Discovery provides continuous discovery of software installations, ensuring that your inventory is always up-to-date. This helps you identify and manage software assets in real-time.

Integration with other BMC Products: BMC Helix Discovery integrates with other BMC products, such as BMC Helix ITSM, to provide a comprehensive view of your IT infrastructure. This allows you to manage both software and hardware assets from a single console and streamline IT service management processes.

Microsoft Endpoint Manager

Seamless Cloud Management: MEM software asset management provides cloud-based management of software assets across all devices and platforms. This means you can manage software licenses and usage in real-time from a single console, regardless of the location or device type.

Automated Software Discovery: The software asset management module in MEM automatically discovers software installations across your network and provides a complete inventory of all installed software. This helps you keep track of your software assets and monitor usage in real-time.

License Optimization: MEM software asset management provides insights into license usage and helps optimize licensing by identifying unused software and reclaiming unused licenses. This helps reduce software costs and ensures compliance with licensing agreements.

Customizable Dashboards: The MEM software asset management console provides customizable dashboards that allow you to monitor software usage, license compliance, and other metrics in real-time. This helps you make informed decisions about your software assets.

Integration with Microsoft Products: MEM software asset management integrates with other Microsoft products, such as Microsoft Endpoint Configuration Manager and Microsoft Intune, to provide a comprehensive view of your IT infrastructure. This allows you to manage both software and hardware assets from a single console.

SolarWinds SAM

License Compliance: The software asset management module helps you manage license compliance by tracking software usage across your organization. It can alert you to potential compliance issues before they become costly problems.

Automated Discovery: SolarWinds SAM automatically discovers software installations across your network, including on remote and mobile devices. This makes it easy to track and manage your software assets, even in large and complex environments.

Automatic License Reconciliation: SAM can automatically reconcile software usage against purchased licenses, allowing you to easily identify and resolve any discrepancies. This ensures that you only pay for the licenses you need and can help you save money on software expenses.

Integration with other SolarWinds Products: SolarWinds Software Asset Management integrates with other SolarWinds products, such as Server & Application Monitor, to provide a comprehensive view of your IT infrastructure

Flexera FlexNet Manager Suite

Flexera FlexNet Manager Suite is a powerful IT asset management software solution that empowers organizations to gain complete visibility and control over their software and hardware assets. With a wide range of features and capabilities, FlexNet Manager Suite enables businesses to optimize software license management, reduce compliance risks, and maximize their technology investments. Let’s explore some of its key features:

Software Asset Management (SAM): FlexNet Manager Suite offers robust software asset management capabilities, allowing organizations to track, manage, and optimize their software licenses throughout the software lifecycle. It provides real-time visibility into software installations, usage, and entitlements, enabling businesses to make informed decisions regarding license allocation, compliance, and cost optimization.

License Optimization: One of the standout features of FlexNet Manager Suite is its license optimization functionality. It helps organizations optimize their software license usage by identifying underutilized licenses, reclaiming unused licenses, and reallocating them to maximize license utilization. This feature helps reduce unnecessary software spend and ensures compliance with license agreements.

IT Asset Discovery: FlexNet Manager Suite offers advanced IT asset discovery capabilities, providing a comprehensive view of software and hardware assets across the entire IT infrastructure. It automatically discovers and inventories assets, including servers, desktops, laptops, virtual machines, and even cloud-based assets, enabling organizations to maintain an accurate and up-to-date inventory.

Contract Management: The software includes contract management features that enable businesses to effectively manage software licenses, maintenance agreements, and vendor contracts. It centralizes contract information, tracks key dates, and alerts users about upcoming renewals or expirations, ensuring compliance and preventing any unexpected costs or penalties.

Symantec Asset Management Suite

Symantec Asset Management Suite is a comprehensive software solution designed to simplify and optimize IT asset management processes for organizations of all sizes. With its powerful features and intuitive interface, the suite empowers businesses to gain complete visibility and control over their IT assets, resulting in improved efficiency, cost savings, and compliance.

Asset Discovery and Inventory: The suite provides automated asset discovery capabilities, allowing organizations to identify and track all hardware and software assets across their network. It helps in creating a comprehensive inventory of IT assets, including computers, servers, mobile devices, and software licenses, ensuring accurate asset data for effective management.

Software License Management: Symantec Asset Management Suite helps organizations optimize software license usage, ensuring compliance and avoiding unnecessary costs. It tracks software licenses, monitors usage, and provides insights into license entitlements, usage rights, and compliance status. This feature enables businesses to reduce license risks, eliminate unused software, and identify opportunities for license optimization.

IT Asset Lifecycle Management: The suite enables organizations to manage the entire lifecycle of their IT assets efficiently. From procurement and deployment to maintenance and retirement, it offers centralized control and visibility. Users can track asset details, such as warranty information, maintenance contracts, and service history, streamlining asset management workflows and reducing downtime.

Compliance and Risk Management: The suite assists organizations in maintaining compliance with software licensing agreements and regulatory requirements. It offers automated compliance checks, license reconciliation, and audit support, minimizing the risk of non-compliance penalties and legal issues. Additionally, it helps in identifying security vulnerabilities, ensuring a proactive approach to risk management.

Cherwell Asset Management

Cherwell Asset Management is a leading IT asset management (ITAM) software solution designed to help organizations effectively track, manage, and optimize their IT assets throughout their lifecycle. With a wide range of features and capabilities, Cherwell Asset Management empowers businesses to gain better visibility into their technology inventory, make informed decisions, and maximize the value of their IT investments. Let’s explore some of its key features:

Comprehensive Asset Discovery: Cherwell Asset Management offers robust asset discovery capabilities, allowing you to automatically scan your network and collect detailed information about hardware, software, and other IT assets. This feature ensures that you have an accurate and up-to-date inventory of all your assets, including those that may be hidden or unknown.

Asset Lifecycle Management: The software enables end-to-end asset lifecycle management, from procurement to retirement. It helps you track the entire lifecycle of your assets, including purchase details, warranties, licenses, and maintenance schedules. This feature ensures that assets are efficiently utilized, and helps prevent unauthorized software usage and compliance issues.

License Management and Optimization: Cherwell Asset Management provides comprehensive license management features to help organizations stay compliant and optimize their software licenses. It helps you track license entitlements, usage, and reconcile them to ensure compliance with software vendors’ terms and conditions. By identifying unused or underutilized licenses, the software enables you to optimize license allocation and minimize costs.

Contract Management: The software allows you to centralize and manage your IT vendor contracts effectively. You can track contract details, renewal dates, service-level agreements (SLAs), and other crucial information. This feature helps streamline vendor management processes, ensures compliance with contract terms, and facilitates efficient budgeting and planning.

ManageEngine Asset Explorer

ManageEngine Asset Explorer is a robust IT asset management software that empowers organizations to efficiently track and manage their IT assets throughout their lifecycle. With a comprehensive set of features, Asset Explorer provides a holistic solution for inventory management, software license compliance, procurement, asset tracking, and more. Let’s explore some of its key features:

Asset Discovery and Inventory Management: Asset Explorer automatically scans and discovers all the IT assets in your network, including computers, servers, laptops, printers, routers, switches, and mobile devices. It maintains a centralized repository of asset information, including hardware and software details, allowing you to have a real-time view of your IT infrastructure.

Software License Compliance: One of the critical aspects of IT asset management is ensuring software license compliance. Asset Explorer helps you keep track of software installations, license details, and usage metrics, enabling you to monitor license compliance and avoid any legal or financial risks associated with over- or under-licensing.

Procurement and Vendor Management: Asset Explorer streamlines the procurement process by providing insights into hardware and software needs. It helps you manage purchase orders, vendor contracts, and supplier information, ensuring efficient procurement and minimizing unauthorized purchases.

Asset Lifecycle Management: From acquisition to disposal, Asset Explorer allows you to manage the entire lifecycle of your IT assets. It tracks warranty and lease information, schedules maintenance tasks, and facilitates asset retirement, ensuring optimal utilization of assets and minimizing downtime.

How Infraon’s Software Asset Management Solution Can Help

Infraon Assets comes with SAM capabilities to drive end-to-end software asset lifecycle efficiency – from reviewing software for daily use to dealing with licenses and managed solutions. You can quickly start eliminating unplanned costs and dependency on multiple tools. Instead, Infraon’s one-stop SAM solution can help you with:

Software License Optimization: Infraon’s SAM solution provides accurate and detailed software inventory information, which enables organizations to optimize their software license usage. This ensures that they are using their software licenses efficiently, avoiding over-licensing or under-licensing, and reducing software costs.

Compliance Management: Infraon’s SAM solution helps organizations manage software license compliance by providing detailed information about software usage and license entitlements. This helps them avoid potential legal and financial risks associated with non-compliance.

Contract Management: Infraon’s SAM solution enables organizations to manage software license contracts effectively by tracking their software licenses, renewals, and maintenance agreements. This ensures that they are fully compliant with contractual obligations and are not paying for unnecessary software licenses.

Reporting and Analytics: Infraon’s SAM solution provides detailed reporting and analytics, enabling organizations to make informed decisions about their software assets. It provides data on software usage, license compliance, and software license optimization, which helps organizations make strategic decisions on software purchases and renewals.

Integration with ITSM Tools: Infraon’s SAM solution integrates with IT Service Management (ITSM) tools such as ServiceNow, enabling organizations to manage their software assets and IT services from a single console. This streamlines IT operations, improves efficiency, and reduces manual errors.

Conclusion

In a nutshell, using the right Software Asset Management (SAM) tool is crucial for any organization that wants to optimize its software usage, reduce software costs, and avoid potential legal and financial risks associated with non-compliance. With the right SAM tool, organizations can gain visibility into their software assets, track software licenses and contracts, and optimize their software usage to ensure maximum value from their software investments.

Moreover, modern SAM solutions provide automation, integration, and advanced analytics capabilities, which enable organizations to streamline their software asset management processes, improve efficiency, and make informed decisions about their software assets. Therefore, it is essential to carefully evaluate and choose the right SAM tool that meets your organization’s specific needs and requirements to achieve the desired outcomes.