What every tech startup needs to know about software lifecycle management

Software is essential to modern business. It’s vital for both internal and external communications, as well as keeping records and allowing companies to operate consistently.

Of course, software is expensive. Managing the cost of software often requires comprehensive planning and budgeting. It takes quite a while to track all of a company’s assets and to know what needs to be updated at what time, from main computers to mobile software. Overall, software licensing can be a tricky thing to navigate.

Software lifecycle management services help companies take care of these issues by tracking what software is used, when it needs to be updated, and when it needs to be fully replaced. Managing software allows companies to always know what‘s on-hand instead of having to perform last-minute checks when it’s time to make critical business decisions.

The benefits of software management

Software lifecycle management isn’t implemented using a single tool—rather, it’s a process. If done correctly, it can result in a variety of benefits for the company. One of the benefits is knowing what exactly the company is using. This ensures that all software is being utilized correctly and efficiently and isn’t forgotten.

Another benefit is keeping track of needed updates. Updating software as often and quickly as possible helps companies guard against cyberattacks and secure sensitive information. This can save a company millions of dollars.

Another important benefit of software license management is that everything is in one place in case of a software licensing audit. Records of the software are easily accessible when well-managed, and that in itself can save hundreds of thousands in fines.

The risks of not managing software

By not utilizing software lifecycle management, companies risk being disorganized and irresponsible when it comes to software purchases. Business leaders may spend too much or too little based on what they think they need—not on what they actually need. Management also provides a clear and easy opportunity for cutting wasteful spending when there are excess licenses.

Companies that fail to employ a specific software management plan risk having employees download rogue software or duplicate licenses. Software lifecycle management helps employees become aware of the importance of maintaining licensing agreements and cut down on fraudulent practices.

Other types of management

Management services can do more than just take care of software by managing digital documents to keep clear records and speed up business. Burdensome paperwork practices can be streamlined using management services.

And, of course, managing products and technology themselves is crucial. Product lifecycle services can assess inventory and make note of what’s needed or no longer needed. It can also help simplify acquisition and implementation procedures, and keep track of updates, maintenance, recycling, and replacement when needed. What does your company use to manage product and software lifecycles? Share your experience in the comments below.

Jessica Swarner

Author: Jessica Swarner

Jessica is a recent graduate of ASU where she studied political science and journalism. She is currently a researcher at a local cybersecurity company. Her hobbies include reading up on hacker forums on Tor and giving unsolicited podcast recommendations.

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