Improved Tech Efficiency through IT Asset Management

Imagine a refrigerator with lots of fruit, vegetables and food items in it. If you do not know what food ingredients are in this refrigerator, you will not know what to cook. This rule is a very valid rule not only in the kitchen, but also in social and business life.

The wind of digital transformation in businesses continues at a great pace. In the last 20 years, the number and diversity of technology assets owned by businesses have increased continuously. But if a business doesn't know what assets it has in its technology inventory, it can't use those assets effectively. For this reason, when it comes to technology efficiency, IT asset management is the cornerstone.

The cost of running a business is high, so you might have guessed that IT managers and business owners alike are always looking for ways to save money on technology. To find out more about how IT asset management can help your business run more efficiently and reduce costs, read on!

What is IT Asset Management?

Do you know how much your IT infrastructure is worth? Do you know which devices are generating the most costs? Do you know how much each hard drive or PC is worth? Most businesses will struggle to answer these questions because they don't put enough effort into IT Asset Management.

IT Asset Management is the end-to-end inventory process of all IT assets. It is a subset of enterprise asset management, which manages all physical assets.

ITAM is a strategy and methodology used to identify, control and manage IT assets. It includes policies, procedures, tools and techniques that enable organizations to effectively manage their IT assets.

The goal of ITAM is to help ensure that an organization's assets are properly inventoried and accounted for so that they can be effectively managed, utilized and disposed of when necessary.

IT Asset Management (ITAM) is a subset of the Information Technology Infrastructure Library (ITIL) that describes how to manage IT assets. ITIL covers all aspects of IT service management, including asset management, but it doesn't include specific procedures for asset management.

Benefits of IT Asset Management

IT Asset Management is important because it allows you to control your IT assets. Without ITAM, you would not be able to know what you have, where it is located, how much you paid for it, when it was purchased or how old it is. With this information at hand, you can make better decisions about what to buy and when. You can also make sure that your systems are properly secured by knowing who has access to them.

ITAM helps companies comply with government regulations such as Sarbanes Oxley and PCI DSS (Payment Card Industry Data Security Standard). For example, when an auditor asks for a list of all servers in the company by location and model number, they can easily verify that they are getting accurate information if they know what server models were purchased through the purchase order system or if their location has been entered into asset management software.

ITAM helps you:

• Minimize costs by reducing the number of unused or unlicensed assets.
• Ensure compliance with licensing agreements and software maintenance contracts.
• Manage risk by ensuring that only authorized users have access to sensitive data and systems.
• Facilitate disaster recovery (DR) planning by identifying critical systems and components in case of an emergency situation or disaster event.

IT Asset Management Software

IT Asset Management software is the name given to the solutions developed for the most effective implementation of an IT asset management program. The IT Asset Management Software provides companies with a streamlined way to manage their IT assets and make sure they are getting the best value from their investments in technology.

The first step in ensuring your organization's success is to understand what assets exist within your network. Identifying those assets allows you to track them, control them, and ensure they are used efficiently and effectively. Without that understanding, it would be impossible to ensure that all-important hardware, software, and information are being used properly.

IT Asset Management software helps organizations by:

• Identifying what assets exist within your network
• Tracking those assets through their lifecycles
• Providing reports on how well each asset performs against its planned use cases

Why Should You Use IT Asset Management Software?

IT asset management software includes features that allow users to track all types of assets, including computers, smartphones, tablets and printers. It also provides tools for managing software licenses and tracking their expiration dates.

IT asset management software is used by businesses of all sizes. It allows businesses to keep track of their equipment so they can know when it needs to be replaced or repaired. The software also helps organizations reduce costs by preventing unnecessary purchases or repairs.

IT asset management programs are designed so that they can be used by anyone within an organization who has access to a computer or mobile device with Internet access. This makes it easier for organizations to keep track of what they own without having to rely on paper records or spreadsheets.