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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.

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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.

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