Engineering Software License Efficiency & Cost Management

Has your organization over and / or under-purchased licenses?

Are you maximizing the cost efficiency of licenses?

Are there periods where licenses are underutilized because everyone is in meetings or in the field?

Making the most of the Engineering and IT spend has becoming increasingly crucial for companies to continue operating successfully. Today, many companies understand the benefits of effective software license management, cost optimization and compliance. However, how do organizations ensure their investment in expensive engineering licenses is well spent? Engineering departments need to ensure the licenses are optimized and purchased intelligently.

This ongoing process requires constant monitoring. Did you know that the average spend of engineering licenses could be $10-150k per seat. If a few of these licenses are unnecessary, could this be a big saving for your company? This is where optimizing the engineering software license efficiency comes in.

Engineering departments have many choices for the software they use to be successful and determine how many licenses each group requires. By providing engineering departments access to tools and then managing and tracking their activity (through usage monitoring) results is a win-win for users as well as management.

Here are a few best practices (for more details checkout our White Papers on the topic):

  • Know what you own.
  • Prepare for renewals.
  • Understand your budgets.
  • Share relevant vendor, contact, contract and PO information.
  • Understand current checkouts, usage patterns and trends.
  • Know what is not being used.
  • Avoid excess purchase traps.
  • Receive relevant alerts.

With a tool like LAMUM, engineers can use the tools that are available, while managers can see when users are actually using such software (See more in our recent blog posts about Alerts and Reports).

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