Software Inventory Management

What does Software Inventory Management mean?

Software inventory management is the process of keeping a record of all the software and applications used within an IT environment.

It is a part of IT asset management that enables the recording of type, size, data, vendor and other related data of software installations.

Techopedia explains Software Inventory Management

Software inventory management processes usually include:

• Keeping a record of the quantity of software or applications installed, installation date, size, etc.
• Type of software installed or deployed within the IT infrastructure such as billing, payroll, CRM, etc.
• Expiry and license renewal dates
• Software update cycle (when was the software last updated and when is the next update due)

Software inventory management is also used as a means to calculate the software's monetary worth and impact on business.