Basics of IT Asset Management

Today, most companies have an IT department, even if that department is only one or two people who spend most of their time removing malware from the boss's computer. Asset management is the science of tracking software, hardware, and system usage, and is an excellent way to increase profits and productivity or eliminate network downtime. It is more economical for many companies to perform ITAM by an unbiased third party, using a professional company to perform the task instead of spending the money to hire dedicated staff.

What is IT Asset Management?

IT asset management is a way to keep the company network up to date, including software, hardware, licensing, deployment, upgrades and replacements. ITAM can be a task for your in-house IT staff, or it may be subcontracted to a company specializing in IT services and asset management. Asset management begins with a full audit of the network and ends with the disposal of software and hardware that has been retired from the system.

What does IT Asset Management Control?

ITAM controls the network from an accounting point of view. During the audit, all hardware is identified, along with the age and condition of the equipment. As part of an ITAM audit, licensing is checked, software and hardware versions compared, and consideration given to upgrading older equipment. Since asset management affects the entire network, it's control reaches to every level of the company's IT infrastructure, including:

Equipment Acquisition

Software

Hardware

Licensing and Certificates

Version Control

ITAM Reduces Company Costs

IT asset management reduces company overhead by reducing potentially costly errors in licensing or software use contracts. It prevents the loss of data and reduces system downtime, and that means saving you money by keeping the office productive. Additionally, doing so can avoid duplicate licensing and streamlining the access individual workstations have to company data because it controls the software and hardware to promote the smooth operation, staff productivity increases and saves the company even more.

Typical IT Management Procedures

Network management typically begins with a software audit which sniffs out the components of the network. This includes listing all software, the version being used, and the status of any required licensing. It also incorporates the hardware, from servers and routers down to the individual workstations and network peripherals such as printers, FAX machines, or plotters. Once the information has been gathered, it can be analyzed to determine what packages and devices can be eliminated, which ones need to be upgraded or fully licensed, and how can be adjusted he network to improve overall performance for everyone.