Patent ID: 7197466

Claim:
A method for managing software assets of a business entity using a web-based system including a server system coupled to a centralized database and at least one client system, the business entity having a software management process, said method comprising: identifying at least one software asset satisfying a predetermined requirement of the business entity; initiating and completing an acquisition process of the at least one software asset satisfying the predetermined business requirement; deploying the acquired software asset including installing the acquired software asset on at least one of the server system and the at least one client system, the deployed software asset is accessed using the at least one client system; storing in the centralized database information relating to the acquired software asset owned or licensed by the business entity including storing terms and conditions of a corresponding software license; maintaining the acquired software asset licensed by the business entity including reviewing each the software license and installing updated software on at least one of the server system and the at least one client system when provided by the software license; retiring the acquired software asset when the acquired software asset is no longer required by the business entity including de-installing the acquired software asset; and auditing the acquired software asset owned or licensed by the business entity by: transmitting data from the server to the at least one client system to display an assessment worksheet on the at least one client system; displaying in the assessment worksheet at least two questions including whether complete software license documentation has been maintained at the user's location, and whether a reconciliation of installed software and licenses has been conducted by the user; inputting a response by the user to the at least two questions presented in the assessment worksheet; inputting to the server the response received from the user to the at least two questions presented in the assessment worksheet; and determining compliance with the software management process including compliance with the terms and conditions of the software license corresponding to the acquired software asset by: calculating at the server a sigma value based at least in part on the response inputted by the user; providing results to the user.