5 reasons to adopt new plans and measures on IT Asset Management

Most companies around the world recognize the need and value of adopting measures for IT Asset Management (ITAM). Nevertheless, some enterprises still resist to include or misuse ITAM tools. Reasons behind vary from company to company; but in our experience, all of them can be resumed in two major factors: Lack of knowledge and tight budgets.

 

In this article, we analyze 5 reasons to adopt new plans and measures on ITAM; so to help you choosing the best choice for your company while helping you to overcome both factors.  We invite you to check the advantages that ITAM tools brings for your company to make the best profit of your inversion. But just in case, let’s start from the very beginning.

 

What is ITAM? What it does for our business?

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According to Wikipedia:

 

IT asset management (ITAM) is the set of business practices that join financial, contractual and inventory functions to support life cycle management and strategic decision making for the IT environment. Assets include all elements of software and hardware that are found in the business environment.

 

So, ITAM help us having full visibility and control of all our assets, whether tangible or intangible with a wide range of purposes; but especially for organizing and keeping close control over expenditures and correct employment of IT.  

 

In this regard, ITAM helps to detect and avoid unnecessary costs along the assets’ lifecycle, so to allocate expenses in the right places for the company’s benefit. And speaking about them…

 

 

Benefits of ITAM tools

More than being a main feature to measure and project real costs; ITAM solutions offer comprehensive view to avoid overspending because they offer end-to-end vision on every asset in the company. In short, they help to control inversions. However, most ITAM solutions have proven to best work in these aspects:

 

License Management

improvementAs for IT Departments, this is a fundamental decision to take into account when faced to the need of purchasing new technological elements to work with; and particularly for special applications and softwares.

 

Such prevision needs to include possible replacement of products and licenses for EOL (End Of Life); new applications; upgrades and tech support. For example; softwares for datacenters aren’t as simple to renovate, replace or upgrade as licenses for basic operating systems.

 

ITAM solutions reduce noise and problems resulting from obscurity and disorganization; as they keep an eye on fundamental aspects as license conditions and SLAs (Service Level Agreements). This fundamental aspect of ITAM solutions enable the organization to work and interact with external products and application from a position of power.

 

 

Avoid Application Overlapping

Many companies are in the dark regarding the real capabilities of each application they already have. As consequence, internal customers demand purchasing more fashionable tools and applications that have identical functions than others already available within their networks for solving particular issues.

 

This action has at least two negative consequences: 1) Application bloating that affects networks and workflows; and 2) Wasting money that easily may be used for other inversions.

 

ITAM solutions build bridges between the company’s real needs and demands, and capabilities of each tool and solutions already existing. This essential aspect of ITAM tools avoid application redundancy; and help your organization to relocate your budgets in the right places.

 

Supervises and Organizes Real-Time Inventory

assetsOn the other hand and contrary to the previous point, it also happens that companies do not update their real inventory. The obvious risks and consequences is that companies count on ghost assets (stolen, sold, discontinued or damaged assets) that affect negatively their operations.

 

Regarding stolen assets, risk lower to minimum when incorporating ITAM solutions as they track and detect unusual movements in your assets, and raise alarms to prevent theft.

 

When using ITAM solutions, you reduce to zero these problems as they automatically eliminate ghost assets from your records; and consequently erasing inaccurate data from your inventory.

 

Keep Pace and Compensate Lack of Special Qualifications

As technology evolves, it demands new qualifications to properly manage changes.  In consequence, challenges arise as follow: 1) IT Staff need to be in constant upgrading to keep pace with them; 2) Not everybody in IT can afford/has time to satisfy such demands.  For these reasons, people with complete profiles to manage new technologies are rare and highly demanded in the market… which let most companies lacking on high-profiled IT Specialists to handle and allocate budgets.

 

Important to realize: ITAM solutions don’t replace human resources; but they actually open a window to oxygenate and compensate lack of qualified staff for making informed decisions on almost every single aspect on technology affecting your budgets.  

 

In addition, ITAM solutions offer AI (Artificial Intelligence) to automatically answer and organize your expenses upon your company’s objectives; which enables and empower your staff to call the shots, even if they don’t have the complete profile to make the right choices.

 

Reduce Expenses on Maintenance

expensesRegarding this aspect, ITAM solutions helps IT Staff to reduce expenses because they actually gather real information on capability; limitations and service life expectancy of every asset.

 

This information is particularly useful when discriminating what assets actually require maintenance. Also, it helps a lot when facing migrations; upgrading; and evaluating inventory for new budgets.

 

Giving maintenance to specific assets is wise; but is even wiser to avoid overdoing it. We mean, if an asset has been repaired twice in the same fiscal year, would you expend more money in repairing it a third time… or should you consider replacing it for a new one?

 

This simple example also covers another aspect of ITAM solutions: They help you to measure risk management connected to the use of your assets.

 

Additionally…

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ITAM solutions helps you a lot when acquiring insurance policies, leases and similar transactions… and they are also really useful for compliance..

 

Now that you have a comprehensive view of the capabilities and advantages that ITAM solutions bring, you are probably thinking about the option for your company. Also, number may be going around your head.

 

Acquiring, adopting and adapting ITAM tools to your company is easier if you count on the expert’s advice. On GB Advisors, we have the best choices for ITAM Solutions for your special requirements at best prices.

 

CONTACT US for more information.

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