In order to track the licenses used for a given product the Catalog for that product has to be built.  
Once this is done you can monitor the software that is on the devices captured by the inventory collection.  

Having this in place will allow for reconciliation of software licenses for the various products to manage license compliance.  

If ZENworks, GroupWise or OES is in the environment and wish to track those products for licensing purposes, adding the ZENworks, GroupWise or OES License Information, will create Products in the catalog automatically.  The other option is to create catalogs manually for software.  

After completing the catalog and purchases it will reconcile your products.

The Dashboard gives a good visual for Asset Management Tracking of those licenses.