Rod Trent over at MyITForum blogged about this, looks like quite a cool tool so wanted to reblog here.

Snow License Manager automatically combines infrastructure information provided by Microsoft SMS® with information such as software contracts, purchased licenses, ownership, and prices.

Snow License Manager ensures central control of all your contracts and software licenses as well as enables you to track actual usage.

With local administration and built in report generation, Snow License Manager creates, controls and supports the management of your software assets.

I couldn't find anything about which versions of SMS are actually supported ... SMS 2.x \ SMS2003 SPx \ SCCM ?

Here's the link: Snow License Manager for SMS.

I'd like to eval this if I get time ... anyone else does an eval then would love to publish a review here, let me know.

Read the complete post at http://wmug.co.uk/blogs/r0b/archive/2008/01/09/snowsoftware-snow-license-manager-for-sms.aspx