IT Asset management is a set of business processes and practices which enables an organization to manage its IT asset lifecycle. It involves gathering data about software and hardware inventory information, this data then enables strategic decision making for the organization regarding future software and hardware redistribution and procurement.

This ensures optimal use of the technology assets by inventorying what assets the company has, its capabilities and its security, version, and configuration status. This practice must be done consistently, vigilantly, and proactively.

There are 4 main types of IT Assets which need to be managed, they are:

1. Software
2. Hardware
3. Mobile Devices
4. The Cloud

Troubleshooting and Repairs

Physical: Discovery and inventory of hardware including PC’s, laptops, printers, copiers, and any other device used for IT and data management purposes.

Digital: IT asset tracking of photo’s, video’s, and digital data, including scanned hard copies.

Software: Licensing requirements of software must be tracked, ShadowIT (Software installed and used without IT management knowledge) and IoT (Internet of Things- Smart TV’s, smart appliances etc).

Mobile: Mobile device and data use- efficient applicability and adequate security measures. ShadowIT to be reviewed and approved by IT management.

Cloud: Managing the cloud. The cloud may eliminate the need for other hardware (servers) and software (licensing issues) saving money and keeping data more accessible.

Our solution relies on Centralised IT Asset Management system- a single, unified overview of your IT assets available at any moment to every stakeholder.

This enables every stakeholder who needs insights into your company’s IT landscape to speak the same language, relies on the same information and make decisions that align with the company strategy. This will impact your company’s bottom line.

1 in 3 companies are not aware of the devices, software, and other IT assets they have, where they are located and who is using them.

With the increase of new devices and applications required it is becoming increasingly difficult for companies to track where IT assets are, who controls them and their associated security risks.

Often IT leaders receive reports about IT assets from various departments and stakeholders, relying on data silos. These insights are then used to make high-level resource allocation decisions in a wide range of domains. The bigger the company, the more delegation happens and the more inaccurate the information.

ITAM includes a review of current software and hardware used, ensures licensing compliance, and tracks how IT assets are being used and what changes may be needed.

IT asset management best practices are used in asset discovery, security, governance, policy, process, metrics, and reporting. An ITAM will keep business and security risks low.

IT Asset Management enables organizations to manage their IT resources more effectively, saving money and time by having the ability to distinguish unnecessary purchases and the knowledge to leverage existing resources.

This also helps in the minimization of risks that are relayed to the costs of advancing IT infrastructure portfolio projects based on old and incomplete or inaccurate information.

An ITAM audit will save you money by identifying software for which you are over licensed or an IT asset you are spending money on, but no longer using.

It will also help track trends in the IT asset lifecycle and identify time and money saving areas.

Benefits include:

• Increased efficiency in project management
• Better data security
• Improved software compliance
• Better communication between business units (sales, marketing, accounts payable, frontline staff etc)
• Improved customer service through streamlined data availability
• Cost reduction of IT assets through consistent review
• Streamlined budgeting process and decision-making through increased understanding of IT assets and their role in the company.

An organization can save up to 30% of their software in the first year of implementing a software asset management program. By accurately discovering and reporting on the network’s entire software asset estate- unused programs and shadow IT will be highlighted and can aid in harvesting existing licenses and understanding where alternative licensing options can be used to avoid making unnecessary purchases.

Effective centralized ITAM does not require huge investments and expensive contracts with faceless global vendors.