Regardless of the size or type of business, license compliance is complex. CT’s Senior Product Manager, Rob Cappella, breaks down how to better navigate this landscape and what to look for when selecting a business license partner. 

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TRANSCRIPT

Hi, my name is Rob Cappella, I’m a Senior Product Manager, and I’ve been with CT for about three years now. Business license compliance is so important because there are license requirements that are tied to so many common business activities, from business formations to expansion, even to name changes.

So it’s important that an organization be aware of the link between business events and how they impact possible license requirements. When it comes to choosing a business license partner, there are a few characteristics that you’re going to want to look for. One of the key ones is having a partner who has a broad set of offerings because no two businesses are alike.

You need a business partner who is going to work with you to get down to what your specific needs are, and then offering the right capabilities that are the right fit for those needs. Once you’ve established compliance and gone through researching everything that’s needed—that’s step one.

After that, you’re going to want to work with a good partner to help you maintain compliance, and you can do that several different ways. The first being, self managing your licenses. A lot of companies like to keep this in-house, have their people handle it, have a high level of control on the licenses that are being managed. A partner can help you, though, by providing a piece of software that really enables this to be done effectively and accurately.

The second model is a managed solution, and that’s really outsourcing your license management to that trusted partner. Having an expert handle this gives you a tremendous amount of peace of mind in knowing that your licenses are being managed through their entire life cycle.

And then there is a blended model of these two solutions, and this works great for companies that want a set of licenses that they maintain and keep track of, but then have a remaining set of licenses that they would like to outsource and have their partner handle.

So regardless of the size of business, type of business, license compliance is complex. But, if you are aware of how all these pieces fit together, and you’re working with a trusted partner whose expertise can help navigate you through this landscape, you should do just fine.