Asset management is the process of developing, operating, and maintaining of assets in a way that saves money.
Most of the time, this term is used in the financial world to talk about people or businesses that manage assets for other people or businesses. Hence it can be used in the IT world too!
IT asset management or ITAM usually involves making a detailed list of a company’s hardware, software, and network assets and then making business decisions about IT purchases and redistributions based on that information.
There are ITAM applications that organizations can employ to help in the process. These programs can identify the hardware, software, and network assets spread throughout a company, and they can then record the information and make it accessible. Some of these programs link ITAM with the service desk, maintaining user and access data alongside issues and requests.
Why is IT Asset Management important?
IT Asset Management is more than just making a list of assets. It’s about using the captured asset data in a continuous way to increase business value, reduce risk, and get the most out of the assets.
IT asset managers can reduce software license and support costs, remove waste, and boost efficiency by avoiding irrational asset purchases and making the greatest use of already available resources.
In a Nut Shell
Keeping track of the assets helps operations run more smoothly, especially when it comes to servicing or decommissioning them. For example, it can be difficult to quickly get a manufacturing printer repaired if you haven’t tracked the serial number, device location and details related to the service contract.