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.
IT asset management (also called
IT inventory management) is an important part of an
organization's strategy. It usually involves gathering
detailed hardware and software inventory information
which is then used to make decisions about hardware and
software purchases and redistribution. IT inventory
management helps organizations manage their systems more
effectively and saves time and money by eliminating
unnecessary purchases and wasted resources.
It is vital that a
business controls it's assets both hardware,
software and licensing.
With a quality Software Asset
Management system in place you can control the risks
associated with improper licensing. Good licensing
practices help you to minimise risks and keep your
software and employees running as they should be.
Hardware Inventory Management is
necessary for asset cycle, change management and asset
Improved security and
Disorganized, outdated software
that lacks the proper security updates can leave you
wide open for viruses and other security breaches. With
a good software asset management plan in place, you will
always have the latest applications with the most recent
security updates and service packs.
Minimizing legal risks
Properly implementing Software Asset Management helps
limit your legal and financial exposure if problems with
your software licenses arise. Proactively maintaining a
solid Software Asset Management program can help you
prepare for external licensing audits and avoid legal
issues and associated financial penalties. Becoming
compliant, and staying that way, also helps eliminate
the potential damage to your reputation that could arise
from a legal dispute.