Gain Control of Your IT Asset Management Tools

All businesses have company-wide assets that can range from office equipment to money, real property, data, and raw materials.Asset managementmeans different things to different people and organizational business units. Each business unit is responsible for the lifecycle of both tangible and intangible assets. For example, one very common form of asset management is financial asset management; it focuses on the management of money and investments. Similarly,enterprise asset management(EAM) is the process of managing and maintaining an organization’s physical assets throughout their lifecycle. ITAM, the focus of this article, is the component of EAM that concerns technology assets.

Let us start by defining a technology asset.Technology assetsinclude any digital, mobile, cloud, software, or hardware resource that is available in the business environment. These assets range from laptops, printers, and routers to software, cloud services, mobile devices, and Wi-Fi hotspots.

Technology is costly but essential, as it fuels business operations and directly impacts business revenue. IT assets play a critical role in the daily operations of every organization and require ITAM processes to track their attributes, verify their security and configuration, and manage their lifecycle. ITAM incorporates technology asset information from business units across an entire organization, linking together financial, contract, security, and inventory data to assist in decision making. ITAM consists of five main categories:

• Hardware Asset Management:The management of computers and network assets, from procurement to disposal
• Software Asset Management:The management of software versions, licensing, and usage
• Mobile Asset Management:The management of corporate and BYOD mobile devices
• Cloud Asset Management:The management of public, private, and hybrid cloud computing environments
• Digital Asset Management:The management of intellectual property that is made up of digital data and content

物联网(物联网),移动性和云computing enable flexibility and always-on, connected capabilities, but with these modern technologies come more devices, more data, and constant change. ITAM ensures your ability to track and maintain essential IT assets, such as location, usage, changes, financials, and security patches, in order to facilitate business success. Here are some of the long-term benefits of ITAM:

• Controlled IT changes
• Enforcedcompliance(in order to prevent penalties)
• Improved budget planning
• Improved business operations
• Improved customer satisfaction
• Improved productivity
• Improved security
• Improved service level agreement (SLA) performance
• Improved visibility and communication
• Increased accountability
• Increased control and standardization
• Informed purchasing ( in order to avoid unnecessary purchasing)
• Preparedness for disaster recovery
• Protected business continuity
• Reduced costs and time
• Reduced risk

The terms asset management andinventory managementare sometimes used interchangeably. Each of these functions is beneficial in reducing costs and improving asset utilization, but each has its own specific purpose:

• Asset Management:Asset management focuses on managing the tangible and intangible assets owned by an organization.
• Inventory Management:Inventory management focuses on managing completed goods, raw materials, and the items you sell.

IT assets are some of the most expensive, yet essential items that a business owns. These assets may include the following:

• Cloud storage
• Contracts with third-party technology suppliers
• Data centers
• Desktop computers
• Digital cameras
• Digital data
• Fax machines
• Keyboards
• Laptops
• Monitors
• Mouse
• Network devices
• Phones (mobile and landline)
• Power supplies
• Printers
• Routers
• Scanners
• Servers
• Smartphones
• Software applications (on premises, cloud-hosted, in house and developed off the shelf)
• Software licenses
• Speakers
• 平板电脑
• USB cables

Each IT asset has an associatedlifecycle, often referred to as aplan to retireorprocuretodisposal. The lifecycle is a system of stages that an IT asset goes through during ownership. The lifecycle of an asset begins when you plan for or procure it and ends when you retire it. Having visibility into the lifecycle of an asset creates financial predictability for proper budgeting. The four simplest stages of the lifecycle are plan, acquire, use, and retire.

Many IT professionals are managing complex IT environments, but lack strong asset tracking tools. They desire a holistic view of assets and associated data in order to maximize value and performance. IT asset management is a data-intensive business process that can be simplified with IT asset management software. These tools can automate the collection, management, and analysis of IT asset data. Some organizations rely on excel spreadsheets or in-house- developed IT asset databases to manage IT assets. As a company’s IT assets expand and become more widespread, vendor-provided IT asset management solutions may offer more flexibility and functionality to meet business needs.

To get started, you can use the following spreadsheet-style template to track location, user, purchase details, and other essential IT asset data.

Download IT Asset Management with Depreciation Template - Excel

IT asset management software comes in different forms. Some solutions are all inclusive, focusing on the management of all IT-related assets; others may focus specifically on software (also called a software tracking tool or software tracking system) or hardware assets.

IT asset management software solutions vary in terms of functionality, but they typically perform the following functions:

• Collect asset data either through auto-discovery, import, or manual entry.
• Identify and prioritize risk.
• Identify assets based on category.
• Provide visibility into all assets.
• Recognize changes as they occur.

Tracking IT assets can save organizations time and money. Today, employees rely on more than just their computer and printer — they use mobile devices to check email, Wi-Fi hotspots to connect remotely, and laptops, tablets, cloud storage, apps, and numerous peripherals for a variety of purposes. Additionally, the nature of many of these devices changes daily. Without strong asset tracking, you can easily lose track and control of your IT inventory, potentially creating a security nightmare for your organization. IT asset management ensures that you are aware of your company’s assets, who is using them, and their exact location. IT asset tracking software also allows you to accurately track inventory data and financial details and helps you to reduce risk.

Tracking and managing the hardware devices that access your IT infrastructure is essential, yet complex. After all, your company’s hardware may include computers, laptops, printers, servers, and networking devices. Hardware inventory software simplifies the process by eliminating the need to manually audit all devices. Hardware inventory software discovers hardware assets and collects details, including serial numbers, location, user, and model. Hardware inventory is typically part of an IT asset management solution.

Eliminating the need to manually audit and track hardware details provides IT organizations with many benefits. Having instant access to accurate information and gaining visibility into existing inventory in a single location can help IT organizations reduce outdated hardware (thereby, reducing utility bills), cut costs, and work more efficiently. The ability to report based on specific criteria is one of the features of hardware inventory software that aids in identifying hardware that is outdated, in need of maintenance, or non-compliant. Reports can be based on any criteria, such as operating system, manufacturer, memory, age, and type.

Each IT asset management solution provides unique functionality, but one of any tool’s most valuable features is the ability to automatically discover and inventory assets. As opposed to manual audits and data collection, automated asset management eliminates the need to identify assets, collect data, and enter that data into a spreadsheet — the software solution performs these tasks for you.

Every business across every industry relies on technology in order to operate. From healthcare to government, manufacturing, transportation, energy and utilities (oil and gas), education, specialty trades, banking and financial (BFSI), retail, telecom and IT, managed services providers (MSP), and construction (general, electrical, and mechanical contracting), IT asset management tools are essential. Typically, IT teams and purchasing departments buy and maintain these tools, and data is available to managers and staff in the field, in the office, and even in warehouses. IT teams gain extra value from streamlined processes when they fully integrate their IT asset management tool with their service management solution.

As is the case with any software solution, finding the best IT asset management tool to serve your organization’s needs can be a costly, lengthy, and complex process (including initial and training costs). But, the right IT asset management tool can demonstrate a significant return on investment (ROI).

Each organization is unique, but below are elements to consider as you search and evaluate:

• Identify your business goals for IT asset management. An enterprise managing their own IT assets will need different functionality than will a managed services provider that is outsourcing ITAM services or an organization that leases/loans IT assets.
• Evaluate features and functionality based on your business requirements, including support for mobile devices, privacy, and data security.
• Understand the ongoing, dedicated levels of support and maintenance provided by the vendor, along with update and release schedules.
• Set a budget and evaluate the costs associated with the tool, training, and ongoing maintenance. Costs are often priced per user or endpoint.
• Look at the delivery methods and evaluate them based on your budget and infrastructure needs:
  • SaaS (open and transparent)
  • On premises
  • Open source (free)
  • Cloud
• Consider the degree of ease of deployment and implementation.
• Compare the API integrations with other business solutions, especially IT service management solutions and the configuration management database (CMDB).
• Test the solution using a free trial.

The ITAM market is saturated with solutions to fit everyone’s needs and budgets. Some vendors to consider include Ivanti IT Asset Management Suite, ManageEngine AssetExplorer, Remedy Asset Management, Symantec Asset Management Suite, and Snow Software Asset Management.

Features and functionality are two of the most important elements of the ITAM tool evaluation process. Most solutions will offer the core functionality — asset tracking, inventory management, compliance tracking, supplier management, and financial management. Use the list below as a starting point in your unique feature list:

• Gives links to user/owner
• Has anywhere/anytime access
• Has patch and version management
• Has process support and automation
• Has radio frequency identification (RFID)
• Includes automated discovery and inventory audit
• Includes continuous process improvement
• Includes geolocation
• Includes schedule maintenance
• Includes software license management
• Monitors and reports/alerts concerning asset changes
• Offers criteria-based reports and queries
• Offers ease of deployment
• Offers full-service desk integration (configuration management, support ticketing, request management, service catalog)
• Offers mobile support
• Provides change management
• Provides financial data (depreciation)
• Provides full inventory data, including asset tag, ip address, location, user
• Provides purchase order/contract management
• Provides real-time audit details
• Tracks entire asset lifecycle (plan to retire)
• Tracks software usage

Below is a software inventory tracking template that you can use to track software purchases, license details, and upgrades. You can easily locate where certain software was installed, access supplier and purchase information, and view license renewal dates.

Download Software Inventory Tracking Template - Excel

Service asset andconfiguration managementis anIT Infrastructure Library®(ITIL) process that is intertwined with IT asset management. Configuration management focuses on tracking and ensuring the consistency among variousconfiguration items(CI)是关键的IT资产delivery of IT services. The configuration management database is a core element of the ITIL service lifecycle, as it stores CI information, including the relationships between CIs. Many of the attributes that the IT asset management process captures and manages are available in the CMDB. This information is critical to solving IT service management issues, specifically change management, problem management, and incident management issues.

The officially recognized IT asset management standard is upheld by the International Standards Organization (ISO). ISO/IEC 19770 is a group of standards that focuses on IT asset processes and technology. The IT asset management standard consists of five parts:

• ISO/IEC 19770-1: This specifies requirements for an IT asset management system within the context of an organization.
• ISO/IEC 19770-2: This establishes specifications for tagging software in order to optimize its identification and management.
• ISO/IEC 19770-3: This establishes a set of terms and definitions that may be used when discussing software entitlements (an important part of software licenses).
• ISO/IEC 19770-4: This establishes specifications for an information structure to contain resource utilization measurement information in order to facilitate IT asset management.
• ISO/IEC 19770-5: This provides the following:
  • An overview of the ISO/IEC 19770 family of standards
  • An introduction to IT asset management and software asset management (SAM)
  • A brief description of the foundation principles and approaches on which SAM is based
  • Consistent terms and definitions for use throughout the ISO/IEC 19770 family of standards

As you begin applying ITAM tools and best practices to your organization, it may make sense to get involved in asset management associations. The International Association of Information Technology Asset Managers, Inc. (IAITAM) is the most well-known association for individuals and organizations involved in ITAM. The organization was formed in 1998 and was incorporated in 2002. It offers training and certifications, vendor-neutral industry advice, professional networking, an industry magazine, a best practice library, and an annual conference.

Artificial intelligence (AI) is all the rage in the technology industry. Software vendors are racing to add AI features to their tools. These features are already becoming available in the form of chatbots and virtual assistants that handle service requests and other simple tasks. IT asset management vendors are already beginning to embrace AI in order to make ITAM smarter. In addition, the rapid development and adoption of smart devices, robotics, drones, and other IoT objects will result in organizations adding them to their IT asset management tracking strategy.

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