Global professional services giant Accenture has rolled out a new software license management application built with tech from distributed ledger startup Digital Asset.

Accenture announced in a press release Monday that the blockchain-based application uses Digital Asset’s smart contract language, DAML, and is aimed to simplify how its software licenses are tracked.

An Accenture representative told CoinDesk that the product is “one of the first blockchain solutions built by Accenture and the first to go into production within the Accenture Operations group.”

With the company managing a large portfolio of software licenses across different businesses and clients internationally, it had developed the need for a technology to support policies and procedures, said Melanie Cutlan, Accenture’s senior principal and lead for blockchain operations, in the release.

“While software asset tracking and management tools have evolved, it can still be a daunting task for any large organization to manage,” she added.

The new blockchain-based application is expected to help Accenture improve the management lifecycle for its software assets, as well as simplify tracking and auditing, the release states.

Cutlan explained:

“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.”

The new application, which Accenture said is patent-pending, will effectively allow organizations to reduce the risk of using unlicensed software or failure to comply with license use terms. It is also expected to ensure better transparency regarding the distribution and utilization of licenses, according to the release.

“This new software asset management application shows that DAML and DLT can deliver significant operational efficiencies to use cases beyond financial services,” according to Chris Church, chief business development officer at Digital Asset.

Accenture image via Shutterstock