As the use of Microsoft 365 expands in business world, some valuable licensing optimization guidelines are shared in article by eWeek:

https://www.eweek.com/enterprise-apps/how-to-reevaluate-microsoft-365-licenses-for-your-enterprise

How to Re-evaluate Microsoft 365 Licenses for Your Enterprise — By following these five points for proper management of M365 licenses, organizations will save money and boost ROI. This is a powerful survival combination in this time of uncertainty. As the infamous American-Austrian consultant Peter Drucker coined: what gets measured gets managed.

Data Point No. 1: Identify who’s using M365 and how it’s being used.
Data Point No. 2: Educate employees on all M365 capabilities to ensure it’s leveraged to the fullest.
Data Point No. 3: Figure out how many M365 licenses are actually in use
Data Point No. 4: Put processes in place to regulate licenses and keep them in check.
Data Point No. 5: Take advantage of users purchasing their own licenses without losing central control.