But with an effective IT asset management process, enterprises can ensure that all technology in the organization is accounted for, used, and disposed of properly afterward. Whether it be a laptop or a software license subscription, a key goal of ITAM is optimizing the usage of the organization\u2019s IT assets to maximize the value gained from them.<\/p>\n\n\n\n
IT asset management is yet another practice specified in the ITIL framework and a key component in ensuring ITSM<\/a> best practices in the business. Here\u2019s a summary of ITAM\u2019s advantages and what\u2019s involved in this process.<\/p>\n\n\n\n An IT asset is any piece of hardware, software, or information within the IT environment that is valuable to the business. In general terms, we consider something an asset when we believe it\u2019s useful and can bring value. IT assets are exactly that to the business.\u00a0When so much of our daily work hinges on technology, it\u2019s essential organizations know what\u2019s going on with them at all times.<\/p>\n\n\n\n There are different types of IT assets, and these are commonly categorized as the following:<\/p>\n\n\n\n \u2022 Hardware<\/strong><\/p>\n\n\n\n These are any physical components, such as end-user devices (computers, laptops, mobiles), and data center hardware (servers, storage systems, security systems, etc).<\/p>\n\n\n\n \u2022 Software<\/strong><\/p>\n\n\n\n These are any software or applications that are used in the organization. For example, applications that are on end-user devices, as well as their operating systems.<\/p>\n\n\n\n \u2022 Cloud-based<\/strong><\/p>\n\n\n\n Tech vendors are increasingly providing services \u2018in the cloud\u2019 in the form of SaaS, IaaS, or PaaS.<\/p>\n\n\n\n \u2022 Digital\/Data<\/strong><\/p>\n\n\n\n These are any data or information that are valuable to the business. With tighter data regulations and increasing cyberattacks, it\u2019s crucial that these assets are properly managed.<\/p>\n\n\n\n Without a proper ITAM strategy, organizations attract a lot of risks<\/a>: compliance issues, wasted resources, inaccurate information, and unnecessary spending. But when done well, ITAM can provide an organization with a multitude of benefits. Here are just a few of them:<\/p>\n\n\n\n \u2022 Full visibility of your IT environment<\/strong><\/p>\n\n\n\n How could you maximize value from your tech capabilities when you don\u2019t know they\u2019re there? Effective ITAM enables you to see the different components of your IT infrastructure, making it easier to look for improvement opportunities.<\/p>\n\n\n\n \u2022 Cost savings<\/strong><\/p>\n\n\n\n There\u2019s often a difference between what IT assets an organization thinks they have versus what they actually have. This can lead to businesses having assets that aren\u2019t being used or having unexpected costs for fixing a crucial asset that hasn\u2019t been monitored properly. These instances can be reduced with ITAM, substantially saving businesses time and money.<\/p>\n\n\n\n \u2022 Better compliance<\/strong><\/p>\n\n\n\n Compliance is a never-ending challenge for organizations, but IT asset management can make it easier. Knowing what assets you have, where they are, how they\u2019re used, and in what conditions they\u2019re in will facilitate organizations with their contractual, regulatory, and legislative obligations.<\/p>\n\n\n\n \u2022 Prevents the loss of assets<\/strong><\/p>\n\n\n\n A good ITAM process means being able to track assets in real-time, so you know where they are at any time. Any unnatural activities, whether it\u2019s service downtime or missing devices, can be easily flagged up and followed through to be resolved, minimizing the risk of losing valuable IT assets.<\/p>\n\n\n\n \u2022 Prolonged asset life<\/strong><\/p>\n\n\n\n Keeping a close eye on all crucial IT assets means that you\u2019ll be able to effectively plan for the various stages of the asset lifecycle like maintenance. This will help keep your assets in good condition for a long time, enabling you to extract the maximum value out of them.<\/p>\n\n\n\n \u2022 More sustainable<\/strong><\/p>\n\n\n\n Organizations are rightly exploring how they can make their business more sustainable. A good ITAM process can help towards that, as it makes it easier for companies to minimize waste and optimize the use of resources.<\/p>\n\n\n\n IT asset management covers a broad range of practices, each one related to the type of asset that needs to be managed.<\/p>\n\n\n\n \u2022 Hardware asset management<\/strong><\/p>\n\n\n\n This handles the lifecycle and upkeep of hardware assets, such as end-user devices, servers, and office equipment like printers.<\/p>\n\n\n\n \u2022 Software asset management<\/strong><\/p>\n\n\n\n Software asset management ensures organizations fulfill compliance and licensing requirements. This involves monitoring the status of purchased licenses, planning for future payments or upgrades, and ensuring existing licenses are being put to good use.<\/p>\n\n\n\n \u2022 Cloud asset management<\/strong><\/p>\n\n\n\n This ensures any cloud-based assets are secure and robust so that they are suitable for compliance requirements. This process also covers optimizing existing assets in the cloud to improve efficiency.<\/p>\n\n\n\n \u2022 Digital asset management<\/strong><\/p>\n\n\n\n Digital asset management oversees business-related data and information. This also includes any media used by the organization, such as photos, videos, or audio.<\/p>\n\n\n\n \u2022 Mobile asset management<\/strong><\/p>\n\n\n\n As more organizations issue mobile devices to their workforce, it\u2019s essential that these assets are tracked and used in a way that aligns with the business objectives.<\/p>\n\n\n\n The IT asset management lifecycle is composed of the different stages an IT asset goes through as it progresses along its useful life in the organization. It outlines the various activities IT departments do to ensure all crucial IT assets are accounted for.\u00a0To create a great ITAM strategy, understanding these different lifecycle stages is crucial.<\/p>\n\n\n\n It\u2019s understandable to think that an IT asset\u2019s lifecycle starts with procurement, but actually the planning stage is a key step for effective IT asset management. Before adding another asset to the system, it\u2019s important to identify what is needed, how much, and why. This helps eliminate any waste from the get-go, ensures that assets are being acquired with clear intentions, and are in line with the organization\u2019s goals and priorities.<\/p>\n\n\n\n Once the need for an asset is established, this is the stage at which it is then acquired. With a detailed wish list in hand, procurement teams go out to vendors, find suitable assets, and negotiate purchases.<\/p>\n\n\n\n After this is done and the asset is issued, it can be recorded and added to the organization\u2019s asset database for easy tracking as it goes through its lifecycle.<\/p>\n\n\n\n This is the longest stage of the IT asset management lifecycle, where the deployed asset is used for its intended purpose. This is where you would be able to see the ROI of your asset purchase. Tracking performance, making updates\/upgrades, and repairing the asset all take place at this stage.<\/p>\n\n\n\n To maximize use and prolong asset life, it\u2019s important that routine checks and maintenance are carried out to ensure it\u2019s in good working order.<\/p>\n\n\n\n At some point though, there will come a time when you\u2019ll need to retire an asset. This can be due to typical wear-and-tear or outdated systems, or you find that your organization\u2019s way of working has outgrown the asset.<\/p>\n\n\n\n Having a good process in place for disposal ensures that removing an asset from your infrastructure doesn\u2019t cause any negative impact on your operations, such as attracting compliance risks or losing crucial information that should\u2019ve been backed up first.<\/p>\n\n\n\n The IT asset management lifecycle provides a clear structure of your IT assets\u2019 time within the organization, allowing a full view of where you can cut waste and improve overall efficiency.<\/p>\n\n\n\n ITAM and CMDB seem very similar, especially as they can be seen often associated with each other. And with the many acronyms in the industry, it\u2019s not surprising to get the two confused. But while there may be overlaps, they have different practices and functions.<\/p>\n\n\n\n ITAM (IT Asset Management) keeps track of all IT assets and where they are in the asset lifecycle. The ITAM approach is often from the organization\u2019s financial perspective. Cost of ownership, license expirations, and length of warranties are just some of the considerations addressed in ITAM.<\/p>\n\n\n\n CMDB (Configuration Management Database) is the collection of information on configuration items (CIs). A configuration item is anything necessary to run and deliver an IT service. The CMDB is a tool used for Configuration Management<\/a>, which is the process of ensuring all necessary components for the day-to-day operations of IT services run smoothly.<\/p>\n\n\n\n While all CIs can be considered assets, not all assets are CIs. Due to this, some organizations use CMDBs as part of their IT asset management, while others practice configuration management without ITAM.<\/p>\n\n\n\n To reap all the benefits IT asset management offers, there are some key practices you\u2019d need to incorporate into your processes. It\u2019s not so much as getting everything perfect on the first attempt, but more about making those incremental, sustainable changes that greatly improve your management process in the long run.<\/p>\n\n\n\n \u2022 Don\u2019t do it all at once<\/strong><\/p>\n\n\n\n One sure way to overwhelm your IT team is attempting to build a complete IT asset record in one go. With the large number of components making up an organization\u2019s IT infrastructure, it can look like an impossible task to undertake. It\u2019s essential that you focus on starting with identifying your critical assets and prioritizing the processes that can create the greatest positive impact.<\/p>\n\n\n\n \u2022 Follow the lifecycle<\/strong><\/p>\n\n\n\n When it comes to ITAM, simple is best. Using the asset lifecycle as the basis of your asset management makes it easier to understand the tasks involved and track what needs to be tracked, e.g., software licenses, maintenance schedules, etc.<\/p>\n\n\n\n \u2022 Automate repetitive tasks<\/strong><\/p>\n\n\n\n For effective ITAM, automation is the way to go. From discovery to reporting, automating repetitive tasks help ensure that key processes are being completed while freeing up your IT team\u2019s time for more complex or strategy-focused activities.<\/p>\n\n\n\n \u2022 Tie in with other ITIL processes<\/strong><\/p>\n\n\n\n IT asset management can provide key information for the effective execution of other ITIL processes like incident management<\/a>, problem management<\/a>, and change management. So, keeping the other processes in mind while planning out your ITAM strategy can contribute to seamless IT service management.<\/p>\n\n\n\n \u2022 Create a formal process for retiring\/disposing of assets<\/strong><\/p>\n\n\n\n We understand that planning for the acquisition and deployment of assets is crucial, but retirement and disposal should receive the same amount of attention. Structuring the way you decommission assets not only helps you maximize usage but also protects you from any compliance liabilities, e.g., due to improperly retired devices containing sensitive information.<\/p>\n\n\n\n If you\u2019re looking to offer ITAM-specific training to your IT team members, there are various certifications and training courses available online and in-person. One of the most popular certification providers is the\u00a0International Association of IT Asset Managers (IAITAM)<\/a>. Established in 2002, they provide various certification programs for different roles, areas, or levels of expertise.<\/p>\n\n\n\n Based on the different processes and best practices we\u2019ve discussed so far, it\u2019s a given that IT asset management tools are beneficial in efficiently carrying out key ITAM processes. Regardless of your preference for a standalone ITAM solution or a complete integrated ITSM tool, there are some key features that are ideal for supporting your IT asset management.<\/p>\n\n\n\n \u2022 \u2022 Integrated service catalog<\/strong><\/p>\n\n\n\n A consumer-style service catalog makes it easier for end-users to request assets directly and easily track the progress of their request.<\/p>\n\n\n\n \u2022 Drag-and-drop workflows<\/strong><\/p>\n\n\n\n Easy-to-create workflows ensure key activities aren\u2019t missed and assets are delivered\/deployed in a timely manner.<\/p>\n\n\n\n \u2022 Visual dashboards and automated alerts<\/strong><\/p>\n\n\n\n You can track all assets and their status at a glance with dashboards that provide different views of your assets, whether that\u2019s on hardware, software, compliance, security, and more. Automated alerts also help you stay informed in real-time, meaning you can quickly resolve any issues as soon as they come up.<\/p>\n\n\n\n \u2022 One-click audits<\/strong><\/p>\n\n\n\n Simple auditing options that give you an instant view of software licenses, system updates, etc., take away the need for manual audits. This makes your compliance activities easier and quicker to do.<\/p>\n\n\n\n \u2022 Agent and agentless discovery<\/strong><\/p>\n\n\n\n The combination of agent and agentless discovery means that you can have complete visibility of all your assets: hardware, software, and virtual.<\/p>\n\n\n\n \u2022 Mobile-friendly interface<\/strong><\/p>\n\n\n\n Your ITAM tool should be flexible, and that applies to its accessibility too. A mobile app or mobile-friendly interface makes it easier for your IT team to access IT asset information on the go. Likewise, end-users can easily log an asset-related request from anywhere at any time, enhancing the experience for everyone involved.<\/p>\n\n\n\n Implementing ITAM and ITSM provide great value to an organization. But by aligning the processes, people, and technologies from the two practices, you can maximize the benefits they provide. It\u2019s not surprising at all, as while different disciplines, activities in each one can create a big impact on the other. So, what are the key benefits of integrating the two?<\/p>\n\n\n\n \u2022 Breaks down operational silos<\/strong><\/p>\n\n\n\n As mentioned in a previous section, ITAM is associated with other ITIL processes. Integrating ITAM and ITSM can help break down silos<\/a> and create a more collaborative relationship between the two, resulting in smoother operations.<\/p>\n\n\n\n \u2022 Removes duplicated efforts<\/strong><\/p>\n\n\n\n Due to the nature of these programs, there may be overlapping activities. Aligning the two together eliminate any duplicated efforts, saving you time and money.<\/p>\n\n\n\n \u2022 Covers each other\u2019s weaknesses<\/strong><\/p>\n\n\n\n By sharing knowledge and integrating activities of ITAM and ITSM teams, they can complement each other\u2019s weaknesses with their strengths.<\/p>\n\n\n\n \u2022 Enables more efficient processes<\/strong><\/p>\n\n\n\n By sharing infrastructure and data, you can run processes for both areas more effectively.<\/p>\n\n\n\n \u2022 Ensures data accuracy<\/strong> Consolidating information and coordinating policies from both disciplines help improve the integrity of your data.<\/p>\n\n\n\nWhat is an IT asset?<\/strong><\/strong><\/h4>\n\n\n\n
Types of IT assets<\/strong><\/strong><\/h4>\n\n\n\n
Benefits of IT asset management<\/strong><\/strong><\/h4>\n\n\n\n
Types of IT asset management<\/strong><\/strong><\/h4>\n\n\n\n
IT asset management lifecycle<\/strong><\/strong><\/h4>\n\n\n\n
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<\/figure>\n\n\n\n1. Planning<\/strong><\/h6>\n\n\n\n
2. Procurement<\/strong><\/h6>\n\n\n\n
3. Operation and Maintenance<\/strong><\/h6>\n\n\n\n
4. Disposal<\/strong><\/h6>\n\n\n\n
What\u2019s the difference between ITAM and CMDB?<\/strong><\/strong><\/h4>\n\n\n\n
Best practices for IT asset management<\/strong><\/strong><\/h4>\n\n\n\n
IT Asset Management Certifications and Training<\/strong><\/strong><\/h4>\n\n\n\n
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Features to look for in IT asset management tools<\/strong><\/strong><\/h4>\n\n\n\n
Integrating ITAM and ITSM<\/strong><\/strong><\/h4>\n\n\n\n