NEW YORK--(BUSINESS WIRE)--Accenture (NYSE: ACN) has completed its first transactions using a distributed ledger technology (DLT)-based application that delivers enhanced enterprise software asset management capabilities. The new application uses Digital Asset’s smart contract language, DAML, to model and enforce software license events throughout their lifecycle, from origination to purchase, which simplifies tracking, usage and audit functions.
“We manage a significant portfolio of software licenses across businesses, clients and geographies, which demands relevant policies and procedures supported with the right technology. While software asset tracking and management tools have evolved, it can still be a daunting task for any large organization to manage,” said Melanie Cutlan, senior principal, Accenture Operations blockchain lead. “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 patent-pending capability was developed by the Accenture Operations team using the Digital Asset (DA) Platform and fits seamlessly with its existing best-in-class software asset management (SAM) capabilities. DA uses distributed ledgers to execute complex, multi-party business processes in a cryptographically secure environment. This collaboration has expanded DA’s reach beyond its production work with the world’s largest financial institutions. New functionality and capabilities will be added to the platform in its next release.
“This new software asset management application shows that DAML and DLT can deliver significant operational efficiencies to use cases beyond financial services,” said Chris Church, chief business development officer at Digital Asset. “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.”
Improper software usage or failure to comply with the license use rights can be costly to businesses and can negatively impact brand and reputation. Accenture’s software management capability will allow organizations to reduce these risks and have better transparency to the distribution and utilization of licenses.
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About Digital Asset
Founded in 2014, Digital Asset has nearly 200 employees working and serving global clients from New York, London, Zurich, Budapest, Sydney, and Hong Kong. Digital Asset’s exceptionally talented people, its fit for purpose distributed ledger platform and smart contract modeling language, DAML, have enabled the company to emerge as a leading global provider of distributed ledger technology (DLT). Digital Asset’s clients include systematically consequential financial institutions, such as the Hong Kong Exchanges Company Limited (HKEX), the Australian Securities Exchange (ASX) and industry partners like Accenture. To learn more about Digital Asset, please visit www.digitalasset.com.
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