IT Asset Management

IT Asset Management

IT asset management is essential for maximizing the value of assets within an organization by ensuring proactive management throughout their limited lifespan. The typical lifecycle phases of assets include planning, procurement, deployment, maintenance, retirement, and disposal.

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IT assets can be categorized into physical, software, hardware, mobile, and cloud assets, and ITAM is designed to facilitate successful deployment and ongoing support for each asset type.There are three primary types of IT asset management, which are Software, Hardware and Cloud.

Software is managing software assets involves complexities such as compliance requirements, licensing, shadow IT, and IoT. Continuous monitoring and review are necessary, and software assets should be adaptable to meet changing market demands and requirements. Meanwhile, Hardware plays a significant role in an organization's IT ecosystem. This includes PCs, printers, copiers, laptops, mobile devices, servers, and any other hardware used for data management purposes. Lastly, Cloud comprises of ITAM tracking the cost and usage of cloud resources, including software as a service (SaaS), infrastructure as a service (IaaS), and platform as a service (PaaS).

Managing cloud assets ensures cost optimization and compliance within ITAM. Hardware asset management and software asset management are both encompassed within ITAM but differ conceptually. Hardware management focuses on physical assets, while software asset management involves software installations, licenses, and cloud services.

Key Benefits:

  •  Providing a single source of truth: ITAM consolidates asset information, eliminating the need for manual tracking and interpretation of asset data. This streamlines processes and ensures accurate and up-to-date information.
  • Improving utilization, reducing risks, and minimizing waste: ITAM enables teams to optimize asset utilization, eliminate waste, and enforce security and compliance policies to mitigate risks associated with regulatory penalties.
  • Increasing productivity while maintaining reliability: Asset management tools are invaluable in supporting DevOps and Site Reliability Engineering (SRE) principles. Effective asset management allows for efficient management of infrastructure and platform services, improving overall productivity.
  • Supporting IT and business practices: ITAM aligns with IT Service Management (ITSM) and IT Infrastructure Library (ITIL) processes such as change, incident, and problem management. It also supports HR activities (onboarding and offboarding), finance for asset tracking, security for vulnerability remediation, and operations management by identifying critical assets and their dependencies.
  • Reducing costs through continuous review: Regular asset review helps identify unnecessary licenses, instances, or resources that may be causing unnecessary expenditures. By consolidating and reviewing assets, organizations can reduce costs and optimize resource allocation.

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