IT Asset Management
In today’s world, all companies strongly rely on software applications. Keeping an eye on further digitization, the reliance on software applications will only keep growing. IT environments greatly transform due to constant digital transformation. Consequently, this has a great impact on IT asset management including software licensing terms and models, making it more important than ever to be in control of your entire IT landscape.
What is IT Asset Management?
IT Asset Management (ITAM) a set of business practices integrating IT assets across business units within a company. It combines different responsibilities including financial, contractual, inventory and risk management functions to handle the overall life cycle of these assets and optimise spending. It could very well be compared to IT inventory management since it commonly involves collecting inventory information which is then used to make decisions about the use and acquisition of IT assets. ITAM essentially allows companies to efficiently manage their increasingly complicated software infrastructures.
Why is IT Asset Management so important?
Of course, it is important to create an asset inventory (to create visibility and be in control), but ITAM is larger than that. It’s about using the captured asset data to maximise returns, minimize exposure or threats (conforming to compliance regulations) and drive increased business value on a continuous basis. Key is to really get the most out of current resources and not purchase any assets that are irrelevant. If this is done well, software licensing and support costs can be reduced, there is no waste and performance is optimal. ITAM also enables companies to reduce risks costs of unknowingly initiating new IT activities on infrastructure foundations that are outdated.
Advantages of ITAM
Some essential advantages of effectively managing IT assets include:
• Avoiding fines
ITAM helps you fulfil any legal and contractual commitments to be compliant with regulatory and audit requirements.
• Increased efficiency and reducing costs
ITAM helps you understand how and where your software is being used, including what is not being used.
• Improved security
Did you know that every IT security team patches, controls and audits every asset? Every extra IT asset that is not necessary can be deleted, improving security. ITAM also helps you get an overview who can and can’t access sensitive information.
• Visibility and control
Knowledge is power. Being aware of which assets the company needs allows to make decisions based on operational needs on a strategic level.