Businesses must rely heavily on technology to thrive in today’s corporate world. As a result, the amount of stuff your IT professionals must keep track of is limitless, ranging from computers and servers to company-issued mobile devices that employees carry. Unfortunately, most modern enterprises have no idea what IT assets are on their networks, let alone follow best management practices.
IT Asset Management, or ITAM for short, is the process through which a team ensures that these IT assets are used and valued optimally by carefully maintaining and monitoring their state throughout their existence. It combines financial, inventory, and contractual functions inside the organization in one location to boost strategic decision-making when using and distributing IT-related products among personnel. This business strategy is critical for ensuring that employees have access to the technology they require to accomplish their tasks while also making the best use of its assets so that unnecessary money is not wasted on technology or software.
Why is IT Asset Management Important?
The purpose of ITAM is to get the most out of the assets your organization values and extend the period they function – or their lifecycle. Each IT asset has a fixed lifecycle; however, this can be significantly extended with an excellent ITAM technique.
Consider all of the computers that a firm relies on for its employees to function properly. Unfortunately, computers do not function forever. ITAM, on the other hand, aims to keep computers functioning at top performance for as long as possible until they need to be replaced. Furthermore, it guarantees that these computers are well-maintained and updated throughout time, preventing them from failing prematurely.
ITAM is significant for a variety of reasons, some of which are as follows:
1. Assets that are not properly managed can become cyber security vulnerabilities. For example, if you don’t keep track of hardware and software assets on your network, you may be overlooking some security flaws.
2. Obsolete assets my harm workflows. Obsolete network equipment could be slowing down vital corporate programs or otherwise severely impacting user experience. Tracking asset lifecycles and determining proper ways to upgrade or replace them can assist boost performance.
3. ITAM can be necessary for regulatory compliance. Without IT asset management, adhering to industry regulations will be difficult. For example, how will you ensure that you have erased all data on your ex-employee if you don’t know all your assets’ information, including personnel records? That will be a difficult operation because there may be a backup at some workstation that includes the details. However, with the correct auditing method, you will be able to find it.
4. Not recognizing your single points of failure. Redundancy is essential for establishing a stable and dependable network in which employees and customers may access the resources they require from your IT assets when they require them. However, it’s difficult to tell what your network’s “single points of failure” are without a detailed overview of your network infrastructure.
5. Incoming assets must be tracked and accounted for correctly. Failure to keep pace with the new IT assets or account for the disposal of obsolete ones can lead to mistakes in the network architecture map, wasted time/effort spent seeking missing items, and gaps in your cybersecurity measures. Having an IT asset management technology in place allows you to keep track of changes and avoid complications.While IT staff can manage IT assets, having a system that handles the heavy lifting can prevent human mistakes while freeing up IT personnel. Managing your IT assets will also allow you to optimize how you use your present tools, preventing you from wasting money on software that your organization does not require. Call Expert IT Solutions to discuss your organization’s specific circumstances and which sorts of IT asset management and solutions are best for your team.
