How Do Companies Benefit From IT Asset Management?

Technology has become an integral part of the business world. It helps increase the efficiency of systems, products and services. In the business world, we are witnessing an increase in technology investments from year to year. The volume of data that we generate is increasing at an exponential rate, which is why businesses are looking at ways to make use of this data for a competitive advantage.

It is no longer just a matter of providing employees with laptops or desktop computers — today’s companies have to keep up with the latest trends by investing in new technologies that could improve their business operations and make them more competitive. So, in the business world, we are witnessing an increase in technology investments from year to year.

Technology has also helped improve communication within companies as most companies now use email for internal communications which allows them to keep track of important information easily rather than using physical files which may get lost or damaged easily in case there is an emergency situation that requires urgent action from senior management who need access to those documents immediately.

Every change emerges a need. As enterprises' technology investments increased, a need for control and management emerged to maintain the efficiency of this inventory. What is IT asset management? What are the benefits of IT asset management for enterprise architecture? What are the benefits of ITAM to businesses? Keep reading the blog for answers to all these questions.

What is IT Asset Management?

IT Asset Management (ITAM) is the process of managing businesses' IT assets according to their lifecycle. The aim of IT Asset Management is to monitor, protect, update and destroy all tangible and intangible assets in the organization when the time comes. IT assets can be hardware assets, software assets integration assets, or valuable information in software systems. All assets have a limited lifespan. Therefore, IT Asset Management is important for businesses to provide maximum value from their IT assets. Thus, it's only natural that ITAM is of great importance not only for the IT department but also for other departments. Optimizing budgets, managing the lifecycle, and making decisions that affect all operations are some of the benefits IT Asset Management offers to businesses.

Key Benefits of IT Asset Management

IT Asset Management covers all the processes necessary to manage the hardware, software, and digital assets of businesses. For this reason, it holds a great deal of significance in terms of business processes. Today, with the advancement of digital transformation processes, businesses need applications to manage their assets even more. Let's look at how businesses can benefit from IT Asset Management:

• IT Asset Management visualizes the assets owned by businesses.
• Businesses can save costs by measuring their IT assets.
• ITAM provides a noticeable reduction in costs by preventing unnecessary purchases and using your assets efficiently.
• IT Asset Management helps you to monitor and manage the status of hardware and software required for your employees. Old equipment in the network can negatively affect their operational processes. For this reason, the disposal of assets with completed lifecycles and the procurement of new ones are crucial for efficient business processes.
• ITAM facilitates security and compliance with legal obligations, as it improves the use of assets. Violation of legal obligations will result in your business being subject to penalties.
• Businesses can implement IT Asset Management strategies to enhance IT Service Management capabilities. Thanks to the cooperation between ITAM and ITSM, IT solution processes will accelerate and their operational processes will be more successful with ITAM data. Because IT Asset Management provides taking information about your assets more easily.

IT Asset Management Software

Issues such as cost savings, increasing return on investment and data security occupy a critical place in the business processes of enterprises. An IT Asset Management Software, Loggle provides cost savings by identifying assets that do not contribute to your business, increasing return on investment by evaluating your assets in terms of technical quality, and controlling your data security by detecting security risks in your IT architecture. With Loggle, you can improve your Enterprise Architecture by managing your software and hardware assets from a single platform.

Loggle's Modules:

• Application Portfolio Management
• Software Asset Management
• License Management
• Integration Inventory Management
• Hardware Asset Management
• IT Cost Management