Blockchain Software Asset Management Application Announced By Accenturebr>
Professional services giant Accenture has introduced a new software asset management (SAM) application based on distributed ledger technology (DLT).
The new application is aimed at simplifying the traceability of Accenture’s software licenses and improving the asset management lifecycle. The application was developed using Digital Asset’s (DA) blockchain platform, which uses distributed ledgers to execute complex, multi-party business processes in a cryptographically secure environment.
The new SAM tool is utilizing the DA platform’s Digital Asset Modeling Language (DAML) to model and enforce software license events throughout their lifecycle, from origination to purchase, which simplifies tracking, usage and audit functions. The application ‘s benefits include lower business cost and reduce risks as well as better transparency to the distribution and utilization of licenses.
“We manage a significant portfolio of software licenses across businesses, clients and geographies, which demands relevant policies and procedures supported with the right technology,” said Melanie Cutlan, senior principal, Accenture Operations blockchain lead. “While software asset tracking and management tools have evolved, it can still be a daunting task for any large organization to manage. The power of DLT will simplify the traceability of these licenses, and, therefore, the auditing function so all can see where each license is assigned. This has the potential to save organizations millions of dollars per year in the management of their software license portfolios.”
DAML is a domain specific language built specifically for distributed ledgers that is capable of expressing any right or obligation, including cash, securities and derivatives, whereby the code defines the considerations between parties and determines how these contractual relations can evolve over time. It simplifies the task of writing smart contracts and contains guardrails to protect against delivering contracts that can produce unpredictable results.
Chris Church, chief business development officer at Digital Asset, said that the application shows that DAML and DLT can deliver significant operational efficiencies to use cases beyond financial services. He added that the new software asset management capabilities will be added to the platform in its next release.
“The delivery of this application also represents a tremendous milestone for us since this is the first application built for a non-financial use case to go into production on the Digital Asset Platform.”