IT ASSET MANAGEMENT
As an organization, IT Asset Management brings opportunities to make the most out of your resources while remaining compliant and even recovering some of your costs as you dispose of assets.
Complete IT Asset Management Audit Trail, Risk Management and Overall Compliance
More importantly, you want to have the complete audit trail for risk management and legislative compliance in regards to ITAD and IT Asset Management.
What is ITAM?
What is IT Asset Management?
According to the International Association of IT Asset Managers (IAITAM), the following is considered IT Asset Management:
Simply put, IT Asset Management is a set of business practices that incorporates IT assets across the business units within the organization. It joins the financial, inventory, contractual and risk management responsibilities to manage the overall life cycle of these assets including tactical and strategic decision making.
IT Asset Management is an investment that provides substantial and measurable benefits for short, medium, and long-term needs and goals. Trained IT Asset Management professionals have the ability to introduce best practices that deliver real value to the organization, whether facing a software audit or preparing for a merger. ~ IAITAM
The world has seen an increase in disasters and major outages happen. As infrastructures are not updated, and massive storms become more powerful due to climate change and other factors it's essential that your company is up to date and ready to respond to them.
From the first steps of business continuity which is creating the Business Impact Analysis, Risk Assessment, Business Continuity Plan and Disaster Recovery Plan to when you have to put all that documentation into place. Having the right IT asset and configuration information can help the teams identify what needs to be prioritized. Another benefit is using the asset data to creating and building a more solid IT architecture that is redundant and resilient to even the most challenging of situations.
License and Subscription Compliance
Tracking software licenses and SAAS subscriptions have become a big challenge for many IT organizations. If a company is paying for a software its not using it might be the time to cancel that license and save the organization an unnecessary expense. The same way if a company is using a tool without having a license this creates some non-compliance issues and increases the legal and financial risk for the company. Something that if caught early can be an easy problem to fix.
Total Cost of Ownership
A mistake often see is looking at the cost of an IT Asset as the initial purchase price when it was acquired. For an IT Asset to add value to an organization, it needs to be used, optimized, and maintained during its serviceable lifecycle. The Total Cost of Ownership takes into consideration the complete and overall costs of being the owner of the asset and operating it. Understanding and managing the Total Cost of Ownership can help eliminate costs from duplicate assets or not maximizing the use of an asset once it's acquired.
Diversity in IT equipment can create many headaches. Something as simple as handing a user an IOS devices when he and your IT Staff is used to using and maintaining Android can cost an organization lots of money. It makes your organization and IT staff less productive as they lack expertise in managing non-standard assets. Each time a non-standard asset is issued it creates a learning curve and may affect productivity.
Setting standards to the organizations IT Assets not only makes staff more productive, but it also helps keep the attention on more critical aspects of the business not having to learn how to use a device.