What is IT Asset Management (ITAM) software?
IT asset management (ITAM) refers to the systems and processes used by companies to track, inventory, and optimize their use of information technology assets. These assets can include hardware assets like company-owned computers, tablets, and phones as well as software assets like Windows licenses, Microsoft Office licenses, antivirus software subscriptions, and more. The goal of ITAM is to get complete visibility of all IT assets across an organization to better manage software licensing compliance, optimize purchasing, and reduce IT costs overall.
Tracking Hardware and Software Assets
One of the primary functions of IT Asset Management (ITAM) software is to provide a centralized database for storing information about all hardware and software assets. This includes details like serial numbers, purchase dates, warranty and maintenance expiration dates, assigned users/locations, and software titles/license quantities. By keeping all of this information in one place, IT managers can easily run reports to get a complete picture of their existing IT infrastructure landscape. They also gain visibility if assets are no longer in use so they can be repurposed or retired to avoid waste.
Ongoing License Compliance
Properly tracking and managing software licenses is crucial for avoiding expensive non-compliance penalties from software vendors. ITAM solutions automate the regular reconciliation of installed versus licensed software to check on optimization opportunities as well as verify compliance levels. They provide alerts if license usage grows too close to certain thresholds. Many solutions also integrate directly with vendors to facilitate license true-ups when needed. This ongoing visibility into software consumption helps organizations "right size" their agreements to minimize over-licensing costs.
Optimization of IT Asset Management (ITAM) software
Along with compliance, one of the biggest benefits of ITAM is optimization of IT budgets. Software asset management saves money by eliminating waste from under-utilized, expired, or unnecessary software applications and licenses. IT managers can use reports from the ITAM system to see which licenses are expiring soon to plan appropriate renewals or reductions. They may also find licenses that are left over after employees depart and can be reassigned. On the hardware side, the asset database provides a clear audit trail to extend warranty and support coverage when possible. Overall, ITAM technology helps companies invest resources only where they are truly needed.
Streamlined Procurement
Having a single source of truth for all assets simplifies IT procurement activities immensely. IT managers no longer have to manually track spreadsheets and documents to determine appropriate replacement cycles, budget timelines, and quantities needed for updates, refreshes, or purchases. The ITAM software serves as the centralized system of record for procurement planning based on current infrastructure baselines as well as future growth forecasts. Automated replenishment reports detail precisely which items need to be ordered well in advance of expiration deadlines to ensure continuous operations.
Reduced Support Costs
Maintaining a clear inventory of all hardware and software assets also assists the IT support team in streamlining maintenance activities. Problems can be diagnosed and resolved quicker when support technicians have readily available information like purchase dates, warranty periods, service tickets, and installed patches documented in the ITAM system. They no longer waste time tracking down missing product keys, proof of purchases, or other purchase records during troubleshooting. Asset tags and service tags physically attached to devices expedite returns/repairs by original manufacturers too. The end result for the business is lower mean-time-to-repair and fewer overtime hours spent on break/fix issues.
Improved Security and Risk Management
Detailed asset data empowers companies to strengthen security and risk management programs as well. ITAM solutions provide a current software bill of materials to more easily identify vulnerabilities from unpatched or out-of-support applications. They can also flag devices nearing or past end of life when security risks increase substantially. The centralized asset repository supports faster incident response by pinpointing which users/locations may be impacted. It facilitates smooth asset disposal or data wipe processes too. Overall ITAM gives security teams better awareness and control over all technology assets involved in the business.
Implementing IT asset management software delivers clear financial and operational benefits for today's organizations. It brings visibility, control and optimization to the entire IT asset lifecycle from procurement to retirement. By gaining a real-time understanding of hardware and software infrastructure, businesses strengthen license compliance, reduce costs, streamline support workflows and bolster security posture.
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