Are You Ready for an Increase in Engineering Software Audits?

Are you seeing more requests for software audits? Due to the COVID-19 pandemic, companies are rightsizing and focusing on gaining control of their engineering software environment to remain compliant.

Software vendors are faced with renewals with lower license counts and addressing revenue streams that focus on license compliance. It might seem like the enterprise IT software providers are simply looking to update their software. In reality, they might be installing an agent that measures true utilization rates.

You are not alone. Computer Weekly has reported on the increase of software audits.

  • 1/5 of IT asset managers claim a significant increase in audit requests
  • 27% have noticed a slight increase.
  • On average, a software audit takes 60 working days to complete.

It’s clear that many of the Tier 2 and Tier 3 Engineering Software vendors are active in software audits at the moment. So be prepared for audits from any direction. Make sure you recoup your costs.

With many organizations experiencing changes in staffing, are you prepared to address a software audit if needed?

This is where TeamEDA comes in with LAMUM to make life easier to manage engineering software licenses and track utilization for compliance now and budgeting for growth after COVID-19 for add-on licenses of engineering new hires.

LAMUM (License Asset Manage with Usage Monitoring) makes software audits much easier. With LAM side of the product, you can see all of the engineering licenses. With UM, you can then see usage monitoring.

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