A quick definition of software asset management (SAM)

Angelica A.

A quick definition of software asset management (SAM)

A quick definition of software asset management (SAM) can clarify any doubts we might have. And that's especially helpful before we go full throttle at making the best of our software tools for our startups and starting businesses. Give yourself the chance to learn more about SAM with these few sets of questions we've got on a quick digest for you today. 

What is software asset management?

How you manage software describes in a nutshell what software asset management is. Primarily geared at companies, SAM (the acronym for what we speak here) is all about managing tools for optimization. You're trying to run and control a whole stack of programs to the best of a company's ability when we speak of SAM in a way. 

And we think of it as a complete process that starts before even getting software through the entire product and company life cycles. 

The idea is for tools to be part of a broader strategy. And that one should take a business' information technology (IT) needs well into account. The goal is to improve every aspect of running the said company. It also relates to how these tools and companies interact with audiences, in a market, with stakeholders, and any relevant parties.

For large businesses, SAM has to do with compliance and avoiding legal risks, especially. While also thinking about the ideal ways to use licenses, working around SAM effectively has to do with handling all internal IT needs in a business. It's also linked to how we deliver to end-users. 

What are SAM tools?

SAM tools, by definition, are all those programs we use to engage in software asset management. SAM tools are those specific applications we use to control our spending on software and run our diverse SaaS stack licenses. They're meant to oversee and help manage what we do with our applications. 

Beyond just decoding what licenses we legally bind to our companies, they also help analyze what we're doing with our assets. So, they gather data and automate it. They can order it and give us valuable insight to make the most profitable decisions in no time! 

The above characteristic of SAM tools sparing up on our time is a vital benefit to using them, by the way. Now, how do we go about getting these tools, though? Let's see how to get software asset management next.

How to get software asset management

Getting started with SAM can be as easy as signing up for Recurring. It literally is. And why would you want that?

It'd be beneficial for all of the benefits to SAM. We described saving up time, being more agile about tool management, and running lower compliance risks and on the legal front. But those include saving up on resources and optimizing what we do with our IT for more effective use. 

To get it, sign up for the SAM tool that best suits your specific business needs. We highly stand by our product at Recurring, of course. Yet, also urge you to shop around for the SAM tool that's right for you - your teams, especially. 

How does software asset management work?

To complete SAM, we should start by knowing what's part of the company's resources. Audit at an internal level or let a SAM tool track your every application to gather a correct sense of everything in your arsenal. Create an inventory if that explains it better. 

Whether manual or relying on software specifically designed to deal with this, list every license and renewal. 

Then, create guidelines and procedures. How will people interact with the tools or acquire new ones? What order will you require, and who will be managing what around your SaaS stacks, for example? Or set up your software to engage in specific actions, send notifications, deal with renewals, etc. 

If you're spending tons of time going through this manually, observe what you've listed this far and try to see if you can increase usage efficiency. Do you still genuinely use every tool, especially those for which you're paying high or considerable amounts?

If your company relies on SAM tools to automate processes and save up on time, let the app scan your tools. Do so to remove duplicates, give intelligent recommendations on what's underused or can be replaced for better, more ideal tools, etc. 

Work with categories through all of this. Label software per kind and differentiate them. You can use filters if SAM tools allow or simply manually distribute software based on the type they are. 

Finally, look at your budget and spending. Whether optimized through a tool or just calibrated based on the retrieved manual info, take a look at what you're spending to see how you can improve that performance. This is, essentially, how SAM works. 

How much does an asset management system cost?

To give you an example of our pricing, we use an average of your last three months of expenses to determine how much you'll invest in your SAM system. To that, the first $1,000/mo are tracked for free.

Then, we use a scaling fee you can check out yourself. It's based on the expense amount. So, for a $2K-$3k range, the monthly cost would be $30/month. $5 to $6K doubles that. And we work on $10 increments per $1K range of expenses up to $10K. From there, every $10K signifies a hundred extra. And we go as far as customizable amounts for companies already running on $50K of expenses and above. 

If that sounds complicated, hit the link above. And also, know there tends to be a free version of all these SAM tools commonly expanded with diverse pricing options depending on a company's needs. Like we said, shopping around should help gather ideas of where these ranges lie. And always recall to check on features and offer to compare at a modest scale. 

How do we know all of this?

Before we let you move on with business, you might wonder where we got all this knowledge. And a long time working at our startup has indeed brought tons of that expertise. 

We have experienced how challenging it is to manage a business stack of software-as-a-service (SaaS) tools. Especially as the business grows. So, we created Recurring to help founders and managers track these platforms' expenses, usage, and efficiency.
We hope this quick definition of software asset management has helped some. As usual, just let us know if you'd like to learn more. 

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