The Applications and Services Inventory Management function involves tracking and overseeing software, applications, and services within their IT infrastructure. Its key responsibilities include:<br/>1. Cataloging Resources: Maintaining a comprehensive inventory of all software applications and services in use.<br/>2. Licensing Tracking: Ensuring that all software license information is up-to-date<br/>3. Cost Management: Monitoring costs associated with software subscriptions, renewals, and service contracts.<br/>4. Asset Tracking: Keeping tabs on hardware and software assets to prevent misuse or theft.<br/>5. Security Updates: Tracking software updates and patches to provide an accurate and up-to-date view of what is in use.<br/>6. Reporting and Documentation: Providing accurate and up-to-date records and reports for decision-making and audits.<br/>
