ITMS 7.1 - Installed Software Reports (Optimized)
In ITMS 7.1 there are 2 reports that can be used to view installed software. If you navigate to Reports->Discovery and Inventory->Inventory->Cross-platform->Software/Applications->Software you will see these reports: Installed Software and Installed Software by Computer. I have optimized the SQL used in these reports and the time to run these was lowered from several minutes to just a few seconds.
To import these, simply right click on the Software folder and choose Import. These will overwrite existing reports so it would be a good idea to export the current reports to have as backups, in the rare case there is a failure of some sort.