Compliance Automation Software
Acquiring the right licensing management software is essential for mid to large size companies looking to stay compliant with today’s regulations. When making the selection, there are certain steps that should be followed.
The first step is to determine a company’s needs. Consideration should be given to factors like the organization’s size, the types of licenses that need to be managed, and restrictions that the organization must adhere to. Additionally, companies must consider the cost, implementation period, integration ease, customer support, and scalability. Asking questions of vendor representatives can help to gain an understanding of both the software and the vendor. Evaluating user reviews and conducting a trial of the software may also assist in narrowing down the options.
The second step is to create an evaluation matrix. Using the criteria gathered in the first step, create an assessment framework for determining which software meets the company’s needs best. This should include a mix of qualitative and quantitative items that can be scored for comparison purposes.
Thirdly, once the evaluation matrix has been formulated, begin requesting quotes. Software vendors should be requested to provide quotes with pricing details, ensuring all criteria from the evaluation matrix are included. This may take some time, as vendors will likely request information before providing a quote.
The fourth step is to select the best option. All gathered quotes should be compared, with the vendor providing the best overall option given the company’s criteria being selected. Finalizing the selection should be done within the expected budget while ensuring the need requirements are met.
Finally, installation and implementation of the licensing management software can begin. Corporate teams should be trained on the new software, and employees should have access to knowledge-based resources in the event of any issues. The selected vendor should provide a timeline for the software roll-out to be completed.
Selecting a licensing management software is a critical process for mid to large size companies. Following the aforementioned steps will help ensure the chosen software meets the business needs and keeps the organization compliant with licensing regulations.