What does the term "software retirement" refer to?

The term "software retirement" specifically refers to the practice of removing and decommissioning obsolete software from an organization's inventory. This process is essential in software asset management as it helps organizations to maintain an efficient and secure software environment. When software becomes outdated, unsupported, or no longer aligned with the organization's goals, it can pose risks such as security vulnerabilities or compatibility issues with other systems.

By properly retiring software, an organization can ensure that it is not exposed to unnecessary risks associated with using outdated applications. Additionally, this allows for better allocation of resources toward more current and effective solutions that can meet the evolving needs of the organization. Efficiently managing the software lifecycle, including retirement, is critical for optimizing software assets and maintaining compliance with licensing agreements.