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How do I track Software Licenses?

To track software licenses, simply create an Asset Stock for the product and add the stock quantity equal to the license seats. As an example, if you have a 10 seat Microsoft Word corporate license, create an Asset Stock named ‘MS Word’. Add 10 stocks to it, and then check it out to each of the members that are assigned the license. If one of them finishes using it, they can check-in the license and it’ll be available for someone else to use.

You will also be able to track utilization of software licenses by running reports on the Asset Stock. To track expiry of the license, create a Custom Field of type Date (with alert enabled) named License Expiry. You’ll receive an email alert warning you of the expiry, and can update this after its renewal.

You can also set ‘low stock’ alerts┬áso you can be notified when a specific number of licenses are left. To learn how to do this, click here.

Posted in: Asset Stock

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