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Image: IT Asset Management Best Practices

As a business scales, it requires more robust technology to handle more complicated workflows. But when you start building an estate of different information technology (IT) assets, it can get out of hand; you may find yourself unintentionally overspending on software or wasting resources on unutilized hardware.

The best way to reign in your IT infrastructure is through an enterprise IT asset management software like Flexera One.

What is IT asset management?

‘IT asset management’ (ITAM) refers to steps and processes that businesses use to manage all of the IT assets in their organization. This is typically done through an IT asset management tool like Flexera One.

The primary objective of ITAM is to establish an organized and integrated asset repository. It archives the presence of all hardware and software used by a business, which can help it reduce IT costs, optimize workflows and mitigate risks.

Benefits of ITAM

ITAM brings multiple operational and financial advantages to business. These include:

Improved operational efficiency

ITAM streamlines your asset management processes. By automating this task, you remove the responsibility from your teams, giving them more time to work on more pertinent projects. They’ll also enjoy better accessibility to software and devices, which can speed up operations.

Optimized asset utilization

With ITAM, you get better visibility and control of your IT asset management lifecycle, enabling you to ensure that your devices and software are maximized. You can also better provide your employees with the right tools to perform their jobs effectively.

Better budgeting

Businesses that don’t apply ITAM may find themselves wasting resources on different assets. But by optimizing asset usage and understanding their lifecycle, you can pinpoint what’s needed and what’s not, leading to better business decisions.

You’ll also be able to better plan for future purchases and predict when devices are due for changing–and how much you’ll need to budget for both instances.

Enhanced accountability

By getting a better picture of your overall IT asset infrastructure, you can keep tabs on who can access devices and programs at any given time. If something happens, you can track it back to the user and hold them accountable.

ITAM best practices

While powerful ITAM software like Flexera One can already significantly improve your ITAM processes from deployment, it’s still necessary to incorporate IT asset management best practices to take full advantage of the benefits of your tools. Here are some to keep in mind:

Monitor and track immediately and continuously

A smooth and accurate ITAM process necessitates proactive monitoring and tracking of assets. Add any new device to your inventory of assets, promptly installing monitoring software into each one for immediate visibility.

Actively monitor your assets to gain greater control over your IT environment. You can connect your ITAM software with an endpoint management tool to more easily manage newly tracked assets.

Apply a lifecycle management approach

Your ITAM processes should go beyond just registering and tracking new hardware and software. Consider the entire lifecycle of your assets:

  • Procurement
  • Asset identification and registration
  • Deployment
  • Asset tracking and monitoring
  • Maintenance and support
  • Asset retirement and disposal
  • Refreshing and replacement

Automate ITAM processes wherever possible

An ITAM software like Flexera One will immediately show increased efficiency and optimization within your organization’s workflows. These can improve even more when you give the program a little boost through automation.

You can automate ITAM processes in multiple ways. Examples include setting automatic status updates every time a certain action is performed, automatically syncing data, and generating reports on IT asset metrics.

Get everyone involved

An efficient ITAM system requires participation from all involved, and that includes anyone who uses or has access to any IT asset in your company. From the get-go, onboard your end-users into the process, making sure that they understand why you’re applying ITAM and how it can help them. Then, properly assign permissions to the right users to ensure accountability and management.

Leverage data for improved decision-making

ITAM gives you an overview of your entire IT estate, and while that in itself is a great benefit, it can go beyond just present use. You can use data gathered to inform business decisions, particularly when forecasting budgets and future purchases.

Get started with IT asset management with Flexera

Flexera can help you optimize the value of your technology to enable growth. Let us help you get started with ITAM to mitigate risk, reduce costs and maximize your investments. Get in touch with us today!