Your technology is one of your most valuable resources as a business. Not only is it expensive to replace if not properly maintained, it also stores highly secure information that you want to make sure always stays protected and accounted for.

In this article, we’ll discuss all things asset management, including what IT assets are, how to properly manage them, and how to create a successful asset management strategy.

What Is an IT Asset?

An IT asset is a computer, server, or other device in an organization’s network. Hardware and software are also considered IT assets.

When an organization acquires a new IT asset, the process of managing it from its delivery through disposal must be carefully followed. Eliminating outdated, unused, or vulnerable equipment and software helps prevent damage to your data. 

Additionally, properly tracking and monitoring your software licenses is critical to avoid potentially costly license violations, as well as minimize the risk of shadow IT and unauthorized usage of your licenses. 

What Is IT Asset Management?

IT asset management is a program that helps an organization maintain control of its IT assets from the time they are purchased through disposal. The goal is to track, secure, and ultimately reduce or eliminate security threats posed by IT devices that have been acquired for use within an organization’s network.

IT asset management is a process that works to ensure the following:

  • All IT assets are accounted for and can be located when necessary.
  • Any unused assets are removed from the network and properly disposed of.
  • The cost to maintain and upgrade existing assets is properly allocated.
  • Software licenses are carefully monitored and legally maintained.
  • All new assets that enter the network follow a secure and logical path through deployment and operation, assuring high availability and low maintenance costs.

IT asset management helps organizations protect their IT investments by ensuring an accountable inventory of hardware and software, mitigating the risks associated with corporate mismanagement. Every piece of technology within an organization should be accounted for. This way, when an employee leaves or there is a need to dispose of old equipment, it can easily be located and removed from the network.

Creating the Right ITAM Strategy

In order to be effective, an IT Asset Management (ITAM) strategy must include visibility into every aspect of the business’s technology infrastructure. It should also include regular mapping of all assets through audits and other processes. This will enable the organization to be sure that all equipment is accounted for and in proper working order, identifying problem areas that need addressing before they become problems.

When creating an ITAM strategy, it is important to consider the following:

  1. Where assets are physically located and how they will affect the organization as a whole.
  2. The location of all data associated with those assets.
  3. Which regulations must be followed regarding where equipment is permitted to be placed.
  4. What additional security expenses are necessary to protect assets in specified areas.
  5. Which equipment can be shared, and with whom it should be shared.
  6. How the value of assets will affect budget cycles for future purchases.

Tools That Enable IT Asset Management

There are many ITAM software solutions that are helpful in implementing an IT asset management strategy. For example, it’s wise to employ tools that facilitate inventory reporting or show which hardware and software can be recycled responsibly. Some other useful solutions include:

Deployment and Configuration Tracking: Tracks asset deployment, configuration status, and network access.

Hardware Asset Tracking: Provides visibility into the location of hardware assets including desktops, laptops, servers, handheld devices and more.

Software Management: Assures all software is up to date and works with existing infrastructure without causing interruptions to business.

Compliance Tracking: Tracks which assets are in compliance with governance, risk and compliance (GRC) requirements at all times.

Continual ITAM Improvements

An organization’s IT asset management strategy should evolve as the company grows and becomes more complex. An effective system or software can help identify evolving issues, but it is only as effective as the people putting it to use. 

In order for an ITAM program to be effective, those overseeing it must have a strong commitment to best practices and regulations with regards to security, compliance, and company policy. New technology and other changes in the existing system need to be carefully overseen so no asset goes unprotected.

Partner with INSC for Reliable Asset Management 

Creating a reliable ITAM plan can be complex and time-consuming without the proper tools. Let our experienced team at INSC guide you. Contact us today to start developing an IT asset management strategy that works for your business.