Mastering ITAM’s future
The IT asset management (ITAM) world is undergoing a seismic shift. Traditional practices are fading, new technologies like SaaS, FinOps, and AI are paving the way for enhanced approaches, and professionals in the field must adapt or risk being left behind. These were the central themes discussed in the recent “Tech at the Table” podcast episode hosted by Roy Ritthaler, EVP of Customer Value at Flexera, with Richard Mandy, Director of ITAM Journey Consulting, as the special guest.
The state of ITAM today
Richard Mandy, an expert with over 20 years of ITAM experience, shared a broad view of the current landscape. “The era of literally counting assets, ensuring license, and compliance is truly dying,” he said. Richard emphasized that these traditional processes are being overtaken by automation, digitalization, and AI, all of which demand a new set of expertise.
In particular, the shift towards SaaS has been a game changer. SaaS products are evolving at breakneck speed with weekly updates and enhancements, making traditional software asset management (SAM) techniques inefficient and obsolete. Richard pointed out that, while some businesses are embracing these changes in stride, others are lagging behind: “If you’re already four or five years behind the curve, you still have enough time to make a difference. But you have to move quickly.”
Roy noted that the United States is adopting SaaS faster compared to EMEA, but certain European regions—such as Holland—are making noteworthy strides. Andy predicted that ITAM in its current form could vanish within three to five years, merging into a broader “technology digital governance” ecosystem.
The risks of not adapting
For ITAM professionals, staying in the past isn’t an option. Richard shared a sobering warning: “If you did nothing and you just carried on doing your day-to-day role as an asset manager or software asset manager, not only are you going to become invisible within your organization—you become irrelevant.”
Roy agreed, painting an equally stark picture: professionals who fail to learn hybrid ITAM-FinOps skills or embrace AI tools will find their roles replaced or redundant as companies prioritize cutting-edge practices.
Success strategies for ITAM professionals and teams
So, how can ITAM professionals prepare themselves for this radical transformation? Richard offered practical strategies to ensure relevance and stay ahead of the curve:
Upskill continuously: Richard urged professionals to focus heavily on upskilling. “Your core item skill set will always stay with you… But it’s making it relevant again,” he said. Leveraging AI is key, as it serves as an enabler that can not only automate processes but also enhance data insights when paired with high-quality foundational data.
Master hybrid ITAM-FinOps skills: Richard highlighted the convergence of ITAM and FinOps. He described ITAM as part of a larger ecosystem requiring a “single portfolio view of your environment under one umbrella.” Professionals need to adapt their skillsets to address financial management in IT operations, ensuring they can deliver value in this blended framework.
Focus on data quality: Data remains the cornerstone of ITAM evolution. Richard explained how AI operates best when paired with reliable and trusted foundational data sets, stating, “The value add of that data with the AI engine on top of it is priceless.” Professionals should prioritize improving their organization’s data before deploying advanced tools.
Embrace leadership and visibility: Executive buy-in is vital during times of technological transformation. Richard advised ITAM teams to maintain visibility within the organization and demonstrate wins that illustrate the importance of their contribution. “Making sure you’re visible, sharing enhancements and wins with your executive layer—that’s what will keep the support strong,” he said.
Transformation timelines and organizational impact
Both speakers agreed that the pace of change in ITAM is accelerating. Richard anticipates a transformation timeline of just three to five years, during which traditional processes will collapse, and hybrid models will dominate. He also shared a startling prediction for team structures, noting that automation and AI will drastically reduce the size of ITAM teams. A global ITAM/FinOps operation that once employed 40 professionals may scale back to just 10, particularly as technology removes repetitive, manual tasks.
However, this smaller team model raises the need for personnel with hybrid skillsets encompassing ITAM, FinOps, technology governance, and AI utilization. Richard stressed the importance of broadening expertise to remain indispensable as the field progresses.
Navigating change with external support
Roy suggested looking for external consulting or partnerships to assist with the transformative journey, and Richard wholeheartedly agreed. He pointed out that many organizations struggle to adopt new technologies due to corporate silos, cost pressures, and a lack of executive understanding of the long-term value add. Consulting services, like those offered by Richard’s ITAM Journey Consulting, can provide the strategic guidance needed to bridge gaps and drive organizational adoption efficiently.
Final takeaways
The conversation between Roy and Richard provided actionable insights into ITAM’s evolving landscape. Professionals and organizations must proactively upskill, embrace hybrid models, prioritize data quality, and secure executive support—or face the consequences of irrelevance.
Richard Mandy’s expertise and predictions underscore the urgency to adapt: “Traditional change is inevitable. This evolution is happening as we speak.” With IT asset management transforming into a digitally governed ecosystem, the time to act is now. Organizations that start the transition today can secure their relevance in the years ahead.
The future of ITAM isn’t just about managing assets—it’s about managing change. Are you ready for it?
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