We in the IT industry get a lot of CDs and downloads for software and updates. Anyone with a Microsoft Technet subscription already knows (or did know) all about this. Imagine getting 10-15 CDs every month with the latest and greatest information! With all this information coming in, it can sometimes be difficult in deciding how to store it. Here are my suggestions on storing software.
1.) Network Software Share
If you are likely to use a piece of software inside of the next year, I would keep it in the network software share. Software that is also difficult to obtain or can not be obtained at a later day should also be stored in network software share. This is the first place you look for software. However, because space is limited, you should only keep so much. Another great thing about using this area is that it is searchable. Being able to right click on the software folder and search for whatever you need is a great benefit.
2.) CD / DVD / Blu-Ray Folder
Software that you are not likely to use within the next year, such as operating system restore discs from a server manufacturer, should be kept in a folder. This allows you to store a massive amount of data, but it takes a little more effort to find what you want and to get it queued up. You may also have to put in several discs to find the exact one that you need. I would not write software keys on each CD though, as they should be stored both inside and outside this folder.
3.) Software keys
I would keep physical software keys and licences with the CD / DVD / Blu-Ray folder. This is the most expected place to find this kind of information. I would keep digital copies of keys inside of a special folder inside that network share. I would also keep the key next to the software installation files. The reason for this is because it helps confirm that THIS piece of software is matched to THIS software key. One thing to note on this, is to also keep an Excel list of use counts, so that you can prove your software legality should you need to.
Final note: When dealing with backing up software, it's best to make the stuff your going to use be at your fingertips. Older or unused stuff should be put either in a folder for later use or thrown out. I would throw out software when it hasn't been in use for the company for at least two years. (When I say in use, I mean in any capacity)