How do you manage your SaaS licenses?

How do you manage your SaaS licenses?

Folks,
 
I'm wondering the best process for buying and managing support agreements and warrantees.
 
I'd like to purchase with a PO but track as a contract.
 
What's the best way to do this?
 
Also, how do you handle Saas licenses? Did you create a new product type or do you track through software and licensing? How does that correspond with the PO module (same question, I suppose).
 
Thanks,
Adam
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