IT Asset Management

What is IT Asset Management​?

IT asset management (ITAM) (also called IT inventory management) is the set of business practices that join financial, contractual and inventory functions to support life cycle management and strategic decision making for the IT environment. Assets include all elements of software and hardware that are found in the business environment. It usually involves gathering detailed hardware and software inventory information which is then used to make decisions about hardware and software purchases and redistribution. IT inventory management helps organizations manage their systems more effectively and saves time and money by eliminating unnecessary purchases and wasted resources.

So what are the big data problems we are trying to solve?

What makes up IT Asset Management?

Fundamentally, ITAM is concerned about maximising value and as such is involved with activities throughout the lifecycle of assets exchange from strategy to purchasing, receiving, storage, moves, adds, changes, salvaging of software licenses and ultimately the disposal of assets. To do this, it touches many aspects of IT and intersects with a number of ITIL processes. A good example is that both areas need to rely on change management to maintain the accuracy of the CMS.
ITAM is made up of software asset management (SAM), hardware asset management (HAM), Mobile Asset Managmenet (MAM) and IT security Management. This involved the implementation of tools and services in order to ensure adequate inventory management, compliance. resource optimization and defense against software audits that are becoming a more common threat.

Economic Benefits of ITAM

Implementing a best practice approach to IT Asset Management (ITAM) can result in significant and very tangible benefits for an organization. The benefits that can be reaped are broad and include operational efficiencies, business performance, soft cost savings, hard cost savings and cost avoidance. Soft savings are more difficult to estimate accurately, but this does not mean that they are any less real. It is important to note that real, quantifiable results can be realized very quickly by implementing the right efforts in a planned sequence.
​In order to identify specific benefits, it is helpful to consider the business challenges facing most of our organizations. The following is a summary of common and current IT Executive concerns as they relate to ITAM. These are general and really reflect the overall concerns of running IT as a business – Risk, Cost, Performance, Control and Accountability.