15 min read
Managing multiple software licenses across various departments can quickly become overwhelming. That's why choosing the right software license tracking tool is key for your Asset Management strategy.
These tools not only help you keep track of what you own but also ensure that you're using your licenses effectively, avoiding costly penalties, and identifying opportunities for cost savings. With the right software license tracking system, you can gain visibility into your software usage, forecast future needs, and make more informed decisions.
In this article, we’ve rounded up the five best software license tracking tools available today, each offering unique features to help you manage your software assets more efficiently. Spoiler alert: we'll introduce you to InvGate Asset Management, our own solution that not only manages your licenses, but also offers many capabilities for IT Asset Management (ITAM).
How to Manage Software Licenses with InvGate Asset Management
5 best software license tracking tools
Let’s face it: managing software licenses can be a bit like trying to juggle too many balls at once. With all the renewals, agreements, and license compliance rules, it’s easy to drop the ball—and that can be costly.
But what if I told you there’s a way to turn this daunting task into a smooth, automated, and almost effortless process? That’s where software license tracking tools come in. This are the best five software license tracking tools for 2025:
In this article, we’re rolling out the red carpet for the five best software license tracking tools that will help you stay on top of your game.
1. InvGate Asset Management
InvGate Asset Management is an IT Asset Management solution with powerful software license tracking capabilities.
With its no-code approach, multiple deployment options (on-premise, cloud, or hybrid), and intuitive interface, it’s easy to consolidate all your software assets under one roof. It also integrates with leading Service Management solutions, like InvGate Service Management, Jira Service Management and ServiceNow.
Our solution doesn’t stop at license tracking, though. It provides automated features, compliance monitoring, and smart analytics to help organizations stay compliant, optimize costs, and gain complete visibility over their IT assets. Its software metering capabilities ensure real-time tracking of license usage, helping IT teams identify underutilized licenses, optimize spending, and detect any discrepancies before they become costly.
InvGate Asset Managemente features for software license tracking
We've listed the main features that InvGate Asset Management has for software license tracking:
- Real-time visibility into software usage – By installing the Agent on each machine, our solution ensures accurate and up-to-date software usage data. This allows IT teams to monitor license utilization, identify cost-saving opportunities, and detect any gaps or discrepancies.
- Automated compliance checks – The system continuously compares software usage with licensing agreements, flagging potential compliance issues before they become costly.
- License tracking and Management – Managing software licenses is seamless with a centralized dashboard that tracks every license, its deployment, and its usage. Our software prevents overspending by identifying unused licenses that can be repurposed or canceled.
- Contract Management – InvGate Asset Management organizes contracts with key details like renewal dates, terms, and conditions, helping you avoid unexpected expirations. With Proactive Management, you can negotiate better deals and stay in control.
- Custom automation and smart tags – Automation, smart tagging, and notifications ensure that teams stay on top of license status. Notifications alert your team when licenses approach their limits, preventing compliance violations or shortages. Smart tags automatically categorize licenses based on customizable attributes, making tracking and reporting more efficient.
- Streamlined monitoring and reporting – Understanding software usage and compliance is effortless with customizable reports and analytics. IT teams can generate reports to gain actionable insights and make data-driven decisions.
InvGate Aset Management reviews and comments
InvGate Asset Management holds a 4.4 out of 5 rating on Gartner in the Software Asset Management (SAM) category and an impressive 4.7 out of 5 on G2, highlighting strong user satisfaction. Reviewers praise its intuitive interface, smooth implementation, and asset tracking capabilities. One user shared:
"My overall experience with InvGate Asset Management is awesome. Its maintenance scheduling feature has reduced downtime, and we can easily schedule in advance. The user interface is intuitive and easy to use. The implementation process is smooth, and we can track and manage our asset disposal easily."
Operations professional
Gartner Peer Insights
With its user-friendly design, automation features, and strong asset lifecycle management, InvGate Asset Management is a solid choice for organizations looking to streamline IT asset tracking and Software License Management (SLM).
InvGate Asset Management pricing
InvGate Asset Management offers a tiered pricing model based on the number of nodes managed, with three plan options:
- Starter Plan – $0.21 per node per month ($1,250 billed annually) for up to 500 nodes. Includes comprehensive IT inventory, network discovery, and IT security rules.
- Pro Plan – $0.38 per node per month, billed annually, for 501-10,000 nodes. Includes software metering, remote desktop integrations, and CMDB for centralized visibility.
- Enterprise Plan – Custom pricing for organizations with unique needs. Includes custom nodes, on-premise hosting, SSO integration, and advanced security configurations.
You can try it for free for 30 days—no credit card required! If you need a tailored quote, just reach out to the InvGate sales team to get started.
2. Device42
Device42 is an ITAM tool with Software License Management capabilities. Device42 offers many integrations and flexible deployment options, including on-premise, cloud-based (AWS and Azure), and hybrid environments.
Its key features include tracking license agreements and expiration dates, comparing discovered software to purchased counts, and identifying unused or prohibited software. Additionally, it provides customizable alerts to notify teams of compliance risks, ensuring better software management and cost optimization.
Device42 reviews and comments
Device42 has earned a 4.7 out of 5 rating on G2. One reviewer shares their experience:
"Awesome tool and supportive team behind it. I really appreciate how Device42 integrates with legacy solutions and enhances the portfolio of tools. I hope that Device42 would be more ITIL aligned in some areas."
Maciej H.
G2 review
Device42 pricing model
Device42 does not offer online pricing. However, its pricing structure is based on the number of assets. To get a quote tailored to your needs, you’ll need to contact their sales team.
3. ManageEngine Endpoint Central
ManageEngine Endpoint Central (formerly ManageEngine Desktop Central) is a unified Endpoint Management and security solution that can be deployed on-premise or in the cloud. It offers Software Asset Management capabilities.
It provides IT admins with tools to monitor license status and usage across their network. Additionally, it helps organizations stay compliant, gain insights into software purchases, and reassign unused licenses to optimize costs. Admins can add licenses manually or in bulk, associate them with devices, and configure rules to track compliance.
Finally, the Software Compliance Report helps identify over-licensed, under-licensed, or in-compliance software, ensuring better budget planning and renewal management.
ManageEngine Endpoint Central comments and reviews
To be honest, it was hard to find a review that focuses specifically on ManageEngine Endpoint Central’s software license tracking capabilities. However, many users have expressed that it is a great tool for managing endpoints. It holds a 4.4 out of 5 rating on G2, with numerous positive reviews.
"The implementation is not much complicated and the agents can be deployed to all the systems in various methods. We are using this application on daily basis for managing various tasks like remote support, asset monitoring, Software License Management."
SS.
G2 review
ManageEngine Endpoint Central pricing
ManageEngine Endpoint Central follows a tiered pricing structure based on the number of endpoints (workstations or servers) you need to manage. It offers two deployment options: on-premise and cloud.
- Pricing is structured into three main plans: Professional, Enterprise, and UEM (Unified Endpoint Management).
- There are three licensing options: Annual Subscription (starting at $795 for 100 endpoints), Perpetual License (one-time fee, starting at $1,067 for 100 endpoints), and Monthly Subscription (cloud-only, starting at $345 for 100 endpoints).
- A Security add-on is available for enhanced security features, which can be included with any plan.
- OS Deployment Add-on pricing starts at $395 annually for 50 workstations or $595 for 50 servers.
- Pricing scales up, with 5,000 endpoints costing $9,125 annually and 10,000 endpoints priced at $16,325 annually.
- Additional pricing applies for patch management and OS deployment, depending on the number of endpoints.
For an exact quote tailored to your needs, contact their sales team.
4. Freshservice
Freshservice is a cloud-based ITSM tool with ITAM capabilities, including Contract Management. It provides a unified system to track software licenses, eliminating the need for multiple tools and its centralized dashboard and automated tracking help maintain audit readiness.
IT teams can manage licenses, leases, and maintenance contracts, optimize SaaS usage with insights, and streamline renewals and cost planning. Integration with DocuSign enables paperless contract signing, while built-in analytics offer clear visibility into contract costs and trends.
Freshservice reviews and commets
Freshservice holds a 4.2 out of 5 rating, reflecting positive feedback from users on its ITSM and ITAM capabilities. Many appreciate its ease of use, automation features, and contract management tools, though some note room for improvement in customization options. One reviewer shared:
"Freshservice UI is Appealing with great customization features. Workflow automations make repetitive tasks a thing of the past and their Asset Management features greatly help keep track of hardware and software."
IT professional
Gartner Peer Insights
5. Matrix42
This is not the most popular among all Software Asset Management tools, but it is a strong, dedicated option for organizations focused on software license tracking. Available on-premise and in the cloud, Matrix42 automates license recording and management, reducing audit risks and identifying unauthorized apps.
It provides detailed reports for smarter purchasing decisions, tracks cloud spending from services like Azure and AWS, and optimizes costs with hybrid benefits and bring-your-own-license programs. With a centralized inventory and automatic scans, it ensures complete visibility and compliance across all IT assets.
Matrix42 reviews and commets
Matrix42 has a 4.6 out of 5 rating on Gartner Peer Insights, though it currently has only 11 reviews, making it a promising but early-stage contender in the space. While users appreciate its powerful customization and integration capabilities, some mention that it can be difficult to master. One reviewer shared:
"Matrix42 is powerful but hard to master. It offers different modules tailored to various needs, with extensive out-of-the-box customization and strong integration capabilities. We use it to consolidate data from SCCM, SQL, and our previous custom asset manager."
IT professional
Gartner Peer Insights
Matrix42 pricing
Matrix42 does not provide standardized pricing. To get a quote tailored to your organization's needs, contact their sales team for a custom pricing plan based on your requirements.
Recommended reading
License Harvesting: How to Detect Unused Software Licenses to Save Costs
What is a software license tracking software?
To understand what a software license tracking tool should enable you to do, we first need to clarify what a software license is. If software is the set of programs and apps that make your devices work, then software licenses are the official permissions and conditions that dictate how you can use them.
So, a software license tracking tool is like your digital assistant for managing all the software licenses in your organization. Imagine having a tool that keeps tabs on every piece of software you own, tracks how it’s used, and ensures you’re always compliant with licensing agreements.
By providing real-time visibility and detailed reports, it helps you make informed decisions about renewals, optimizes software usage, and ensures that you’re getting the most out of your software investments.
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How to keep track of software licenses?
Tracking software licenses is a crucial part of any Software License Management strategy—it keeps your IT ecosystem efficient and compliant. The first thing you need to to do is gather all your license data into a centralized software license inventory.
Once your inventory is set up—ideally within an IT Asset Management (ITAM) platform—it’s time to monitor and audit. License inventory monitoring will help you see who’s using what and identify any underused licenses. This proactive approach not only ensures compliance but also helps you avoid unnecessary costs.
Tracking licenses isn’t just about keeping records; it’s about staying ahead. With the right ITAM system, you can set up renewal alerts, generate usage reports, and ensure your software assets are working for you. In short, effective license tracking is key to maintaining an organized and cost-efficient IT operation.
Recommended reading
How to Get a Unified IT Asset Inventory in 24 Hours
7 essential features of software license tracking solutions
When selecting a tool, you should always look for characteristics that adapt to what your organization needs (designing an ITAM RFP can be very useful for this process). However, there are some essential features that any software license tracking solution must include:
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License inventory - This is the base of any SLM (or of any ITAM, we dare to say). A comprehensive inventory of all software licenses owned by your organization should include details such as license type, version, and the ability to relate it with other assets.
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Contract Management - Effective license tracking involves managing various licensing agreements with vendors. The solution should facilitate this process, storing contract terms, renewal dates, and compliance requirements.
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User Management - Managing users as configuration items in your IT environment will help you understand who owns and uses which license.
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Software metering - The ability to track software usage at a granular level provides insights into which applications are actively used, helping in identifying underutilized licenses.
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Automated compliance checks - The tracking solution should automate compliance checks by comparing software usage against licensing agreements. It should alert administrators when any non-compliance is detected.
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Alerts and notifications - Automated alerts and notifications for upcoming license renewals, compliance deadlines, and potential overages help asset managers be proactive in facing any issue regarding software licenses.
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Reporting and analytics - The ability to generate customizable reports and analytics is crucial for informed decision-making. The tool should offer insights into license usage, compliance status, and cost trends.
To sum up
There’s no doubt that having a software license tracking tool is a smart choice. That’s why it’s important to explore the available options, understand the key features they should offer, and follow a solid selection process to achieve the best results.
InvGate Asset Management goes beyond Software Asset Management—it allows you to manage all types of assets in an intuitive and user-friendly environment. You can request a 30-day free trial and try it out for yourself.
