IT Asset Management Software ITAM

What is IT Asset Management?

IT Asset Management is a business management investment that provides substantial and measurable benefits for optimised spending and supports strategic decision making in relation to technology assets. It joins the financial, inventory, contractual and risk management responsibilities to manage the overall lifecycle of these assets including tactical and strategic decision making.

Tracking your IT assets put simply involves gathering detailed hardware and software information which is then used to make decisions about purchases and how assets are used. Additionally, managers get a better overview of:

  • Total business value
  • IT hardware and software utilisation
  • Procurement routines
  • Maintenance procedures
Hardcat ITAM

Benefits Of An Accurate Asset Register

Benefits of having an accurate asset register:

  1. You can use your assets more effectively
  2. Avoid unnecessary asset purchases by re-using existing resources
  3. Lower the risk of unknowingly building new IT projects on outdated/unknown infrastructure foundations
  4. Leverage resources
  5. Boost bottom line
  6. Reduce losses due to theft
  7. Improve maintenance outcomes
  8. Maximising business assets

Gartner defines a ‘technology asset’ as one that can generate, receive or process digital information to support business activity,” explains Stephen White, research director at Gartner. “Things like ownership, subscription status or location are not important anymore. What matters is that all assets are governed and managed according to ITAM principles and best practices.

Prepare Your IT Asset Management for 2020

ITAM Controls

  • Hardware and software
  • Network and communications infrastructure
  • Servers and applications
  • Mobile devices
  • Cloud assets
  • Purchase and disposal information
  • Parent-child associations
  • Asset financials
  • Ownership and location of assets
  • Identification of critical assets
  • Contract expiry dates
  • Hardware maintenance
  • Software licencing

Allow For Change Implementation

Information technology is an ever-changing industry and a key factor of success is agility. IT asset management is a continuous process and updating your asset database regularly is essential. It’s not enough to track and measure metrics, your organisation needs to be able to respond to changes accordingly.

Unscheduled downtime is costly for any business. It’s not just inaccessibility that you’re looking at – downtime could also lead to data loss and client communication problems that could cost your business significantly

Major Objectives In IT Asset Management

The top priority in IT asset management is to establish a centralised asset database that keeps an accurate account of all the hardware and software inventory owned by a business. Tracking an organisation’s entire networking inventory and technology services.

IT asset management software applications offer a diversity of features that can help companies better handle their technology-related processes and functions. Some important features that a standard solution should have are:

  • Single, web-based interface for all hardware and software inventory and IT asset management processes.
  • A centralised database for tracking and managing hardware and software assets, so that the details of each asset and inventory are accessible from anywhere, and at any time.
  • Information about the physical location, deployment, and status of each asset.
  • Detailed history tracking to monitor any changes made to assets in the centralised database system.
  • Track financial depreciation on assets for meaningful insights on an asset’s useful life.
  • Monitoring and management of asset life-cycle from procurement to disposal.
  • Customisable reports that provide actionable data on key pre-defined organisational goals.
  • Integration with service desk/help desk and IT operations and maintenance processes.

Full Visibility of IT assets

Full visibility is understanding the condition of your business’ assets as well as tracking location, utilisation and ownership throughout an asset’s lifecycle.

  • Assess vendor performance and easily audit your vendors
  • Track products by specific vendors; compare and contrast vendor’s servicing and maintenance outcomes
  • Enhance compliance; tracking how each asset performs and comparing it to expected standards
  • Optimise licensing costs by ascertaining how much each asset is being used
  • Be proactive with preventative maintenance to minimise overall maintenance and repair costs
  • Asset utilisation data provides smarter procurement decisions when it comes to buying, leasing, or otherwise procuring future assets.
  • Increase accountability through up-to-date records of asset assignments
  • Easy check-ins and checkouts (issue and return) and reservations

Heading into 2021, companies are adopting more technologies, platforms and other assets into their IT environments than ever before. Utilizing this expanding array of resources helps them move faster, become more agile and focus more directly on customer-centric initiatives. At the same time, more resources means more IT complexity, making it harder to keep track of both the hardware and software assets that live inside these environments.

IT asset management – how to be efficient

Hardcat IT Asset Management Software

Combining IT asset management with preventive maintenance and service desk provides enhanced knowledge and control. Incorporate purchasing and asset depreciation in the mix and you have a single source of truth for a comprehensive IT asset management solution.

Hardcat asset management software solutions protect your business against financial and reputational loss and give you the intelligence to make decisions with certainty. Our IT asset management software will control the financial and custodianship aspects of your IT asset management. The necessary tracking, monitoring and control elements to competently maintain these assets.

Our experience has developed over 34 years of working on critical projects with organisations from a range of industries that have the highest requirement for governance and reliability.

When it comes to asset management services, we offer you a proven methodology to help you establish solid processes and ensure your success, from beginning to end.

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