Everything You Need to Know About IT Asset Management Solutions (FAQs)
What Is An IT Asset Management Solution?
An IT asset is any piece of software or hardware that you use. This makes it a very broad category, covering everything from applications, to devices, and data. These assets are integral components of an organization’s systems and network infrastructure.
IT asset management allows you to monitor key metrics relating to your IT assets with ease. You can track a range of factors such as financial, contractual, and inventory data to track and make strategic decisions about IT assets. The main objective of IT asset management is to help organizations effectively and efficiently utilize their IT resources, as well as to optimize costs by reducing the total number of assets in use and extending the life of those assets, avoiding costly upgrades.
An Asset Management Solution is software that is designed to facilitate this management. It will audit your assets so that you can understand what you have, then provide extensive visibility into where these assets are, and how they operate. This information will usually be collated in a centralized dashboard, allowing you to carry out management tasks.
Asset management solutions are used across various industries, such as IT, manufacturing, and real estate, to streamline operations.
How Do IT Asset Management Solutions Work?
IT Asset Management solutions work by creating a centralized repository for all your organization’s important IT assets. This includes hardware such as servers and laptops, as well as software licenses and service agreements. These solutions help to track the lifecycle of assets from procurement to retirement, and also provide insights into metrics such as usage, maintenance, and cost.
By providing real-time visibility into hardware, software, and network assets, these solutions help companies track asset usage, reduce unnecessary purchases, and avoid underutilization. ITAM solutions also improve compliance with software licensing agreements and regulatory requirements. This is particularly useful for organizations operating within highly regulated sectors. These solutions also enhance security by identifying vulnerabilities in outdated or unpatched assets.
Through better maintenance scheduling and lifecycle management, ITAM solutions reduce downtime, lower operational costs, and enable data-driven decision-making for IT investments.
What Features Should You Look For In IT Asset Management Solutions?
With the right ITAM solution, organizations can maximize the usage of their IT assets, ensure compliance with software terms, and make informed strategic decisions. Some key capabilities that support this goal include:
- Inventory Management Network discovery, software agency, and cloud synchronization are used to better understand your assets. They facilitate more efficient discovery of unauthorized devices on the network, provide intel on activity of company devices, and help to link existing assets to the ITAM solution.
- Software Management – In addition to unifying and managing software, hardware, and cloud, any IT asset management solution you use should provide ways to monitor software. This may include software metering for keeping on top of licenses and their usage, license management for controlling the distribution of software licenses, and software deployment for ensuring that software applications are safely delivered and kept updated.
- Reporting and Analytics – Having customizable dashboards and robust reporting is essential for ensuring that the solution you choose can effectively track IT assets performance, identify areas that could be improved, and get ahead of any potential issues with software of hardware.
- Customizability – This refers to the IT asset management solutions ability to tailor the system to meet specific organizational needs, such as adjusting workflows, reports, asset categories, and user permissions. Good customizability means organizations can align the system with their operational goals, improve efficiency, and ensure the solution adapts as the organization grows or changes.
- Integration – The more detached your IT stack is, the more likely it is your team will encounter silos. Any ITAM solution you implement should be capable of integrating seamlessly with other systems such as security, procurement, financial, and IT service management tools. Integration is important because it enables seamless data exchange, improving visibility and accuracy across systems.
