Successful contract license management is a key factor in remaining in compliance.
Here are the key steps in the process:
· Forecasting – looking at what is needed and getting the necessary approval. In this step you must also be sure that your licensing meets your architecture.
· Negotiation – Go in and negotiate with your vendor, this can be done at anytime and the process will vary depending on what you need.
· Repository – Update, update, update! Be sure to continuously update your repository to be sure that you are in compliance. The repository will give you the foundation for determining whether you are in compliance and give you the centralized database that everybody in the company who has their hand in it will know what is going on. A thorough repository will also keep you prepared should you face an audit.
One of the big benefits of having a repository, an inventory of your licensing, is to better leverage the flexibility of your license types. 
