ITAM: What is it? Why is it important?

We are living in a century that is dependent on machines and technology. And without a doubt, our enterprises irrespective of the size, utilizes modern technology to improve productivity and improvise process to compete in this IT driven world. Every organization will have it's own set of teams which simply translates to more endpoints managed under a network. With several software being developed and published every single day, there is a possibility of a malware hidden in one of them. With numerous hardware and software assets to manage, it would be better to have a centralized console to scan, monitor and control. ITAM stands for IT Asset Management, which is more of an everyday process than a destination. 

This ITAM guide covers the following:

What are the different types of Asset Management?

The term "IT asset" refers to the hardware, software and digital assets that are purchased, created, managed and used by an IT enterprise. IT Asset Management can be divided into three major categories.

  • Hardware asset management involves the management of tangible devices such as laptops, desktops, keyboards, printers, etc. Endpoint Central's ITAM software allows you to categorize your computers based on OS, manufacturer, disk usage, age and device type and hardware assets based on manufacturer and types. You can also configure alerts to notify you if any new hardware is detected in your network.
  • Software asset management involves the management of all the software applications/executable that are installed on endpoints in a network within an organization. It also involves software license management, software metering and much more. You can also prohibit certain applications by adding them on the prohibited software list. Endpoint Central also allows you to configure compliance alerts to stay software license compliant at all times.
  • Digital asset management is the management of documents, pictures, videos or in general, data in any form that has been paid for, produced or is being managed by your enterprise.

What is IT Asset Management (ITAM)?

IT asset management (ITAM) refers to a set of business practices that involves identifying, discovering, procuring, managing, monitoring and disposing IT assets found in your organization. It entails having a centralized view of all the assets present in a network along with software and hardware details. Having a thorough ITAM process in place can empower you to make data-backed, strategic decisions about acquiring new assets, thereby cutting down unnecessary expenses. An IT Asset Management software also allows you to manage software licenses, monitor changes in the inventory and download customized reports with a click of a button. 

ITAM asset management - ManageEngine Desktop Central

Importance of IT Asset Management (ITAM) in an organization

  • IT asset management software is crucial to any enterprise that possesses numerous endpoints in its network. Let us say that an enterprise has 500 computers and other hardware components like keyboard, mouse, etc. Each of these desktops and laptops will have various applications installed in them. It is required to keep track of all these IT assets in an enterprise.
  • An ITAM process enables an IT admin to monitor the number of assets available to avoid unwanted expenditures, repetitive purchases, and productivity and security issues.
  • The applications installed in a computer may contain prohibited software that may raise productivity and compliance issues. IT asset management software also allows an admin to monitor and manage software assets by overseeing licensed software usage and prohibiting unwanted software.
  • It also allows scanning of specific file types to review the memory usage of these files. Alerts can be configured for every change induced in these assets, thus giving the user and admin control and clarity over the IT assets.

What is IT Asset Management software?

  • IT Asset Management (ITAM) software is a must have in every enterprise that has diverse departments, consisting of numerous endpoints. These endpoints are IT assets that need to be scanned, checked and monitored regularly to maintain the productivity and security of the enterprise. IT assets include software and hardware components found in the endpoints in a network.
  • An ITAM software assists in software asset management (SAM) and helps in monitoring software assets like commercial and non-commercial applications that are installed in the computers in a network.
  • An ITAM tool facilitates in managing hardware assets like monitors, keyboards, printers, hard disks, desktops, etc., found in an enterprise.
  • In addition to this, the IT asset management software also aids in software license management, warranty management, file system management, licensed software metering etc., thus providing a holistic ITAM solution that makes the job of an IT admin easier.

What are the benefits of IT Asset Management?

Enterprises now-a-days can have anywhere between 1000 to 100,000+ devices in their networks and it goes without saying that a centralized and automated IT asset management software is required to track and manage these IT assets. ITAM process not only allows you to do that, but it also gives you the visibility and insights required to strategize and make informed IT asset procurement decisions while mitigating the risks in the most cost-efficient way possible.