Compushare, provider of information technology, consulting and implementation solutions for community financial institutions, has launched the Software Inventory and Asset Management Program.
Created in response to industry demand, the program includes software inventory and tracking, as well as policy and procedure development and documentation.
"Compushare's Software Inventory and Asset Management Program enables community financial institutions to ensure they are paying for what they use, and using what they pay for," said Romir Bosu, president of Compushare. "Furthermore, the policies and procedures developed through this program help ensure that everyone - including regulators - knows that the institution is paying for the software on their system."
In recent years, software companies have become increasingly more aggressive in identifying and reporting software piracy, including unauthorised duplication of software programs and unlicensed use of applications. Regulatory agencies that identify misuse of software can report the information to software providers, the FBI or other law enforcement officials. Furthermore, individuals can now anonymously report software piracy to organisations such as the Business Software Alliance and the Software Publishers Association.
"Because we work with almost 400 community financial institutions nationwide, we are able to quickly identify industry needs and respond accordingly," continued Bosu. "Every institution should not only implement a software management program, but thoroughly review its technical policies and procedures. The potential negative impact of software licensing violations includes heavy fines and damage to an institution's brand image. This unobtrusive Software Inventory and Asset Management Program helps community institutions inventory and track software licensing and usage and document policy and procedures that help defend and protect against undue scrutiny."
The program alleviates a large burden from overtaxed internal IT resources, identifies cost savings related to unused seat licenses or other software application fees and identifies unapproved software on employee workstations. The combination of time savings, cost savings and increased security and reliability of IT systems provides additional value to community financial institutions seeking initially to ensure software licensing compliance.