Benefits of IT Asset Management and How to Leverage Them

October 15, 2021

IT asset management solutions are an essential part of the digitally transforming business landscape. Companies in a modern world need to manage everything from digital marketing tools to web help desk services and customer relationship management systems. IT asset management solutions help business leaders to keep track of these essential tools and make sure they’re being leveraged properly to support the goals of the business. The only problem, with so many software tools and solutions to track in the modern business environment, many team leaders are reluctant to invest in additional systems like ITAM (IT asset management). If you’re on the fence about adding this software to your business technology stack, here’s what you need to know about the benefits of asset management in IT, and how you can effectively leverage them going forward.

Improved Visibility

The right management tools for digital and physical assets alike come with intelligent and intuitive dashboards where you can track important investments. Rather than having to keep track of the tools you have individually, you can view all of your IT assets in one environment. This makes it much easier for companies to track which tools are most important to business performance, roll out software updates, and even patch security issues for individual tools. ITAM services provide users with a single pane of glass where they combine their view of all crucial IT tools, from service desk systems to systems for data analytics and storage. An aligned environment even makes it easier to use things like automation to reduce the stress on your IT teams, and AI to track trends in product usage.

Better Provisioning

If you don’t have a clear view of the assets you have available for your team, it’s difficult to deliver the right resources to the correct people. The use of ITAM solutions makes it easier to determine how many accounts and instances you have of crucial software and IT tools, which simplifies provisioning. In the age of remote and hybrid work, the right ITAM tools can even help companies to deliver cloud-based versions of tools for customer service and help desk support to the new employees who are joining the team remotely. You can set up new accounts and account controls within the same secure space and remove users when they leave the team.

Improved Employee Support

ITAM technology is often an excellent tool to use in tandem with web help desk solutions. Help desk environments support companies in delivering the kind of support team members need when dealing with IT issues, errors, and malfunctions. Within an ITAM environment, you can track service requests from multiple different software installations in the same environment. Companies can even access intelligent technology to implement rule-based routing and escalation strategies in order to determine how employee support can be managed at scale. Alternatively, you can use your ITAM technology to track where problems happen most often, then design FAQs and self-service solutions to help team members solve issues themselves.

Better Business-Wide Monitoring

Today’s IT investments are growing bigger than ever. As businesses continue to digitally transform, they’re relying on more technology to improve efficiency, productivity, and business outcomes. Unfortunately, it can be difficult to track the performance of various IT investments in this rapidly evolving environment. An ITAM solution makes it easier to track both hardware and software in a digital environment. Improved business-wide monitoring has a range of benefits for business operations. It can help with ensuring employees are properly protected with access to the right patches and solutions to problems when they appear. Business-wide monitoring also makes it easier to see trends in the use of various hardware and software solutions, so you can determine where to invest when the time comes to upgrade your IT stack.

Improved Compliance and Security

When IT administrators and business leaders can see every device and software instance, they can also see gaps putting the business and its data at risk. A good example of this is in 2017 when the WannaCry ransomware attack left more than 230,000 computers paralyzed. The event was entirely preventable, as Microsoft released a patch in 2017, protecting users from ransomware. Unfortunately, many of the companies affected by the Ransomware attack were using older, outdated operating systems without protection. Insights into IT assets with an ITAM technology would have notified these companies about the outdated and vulnerable operating systems they had exposed to potential attackers like WannaCry. The right ITAM technology can even help companies to ensure they’re remaining compliant with various regulatory standards for storing data and managing technology correctly.

Reduced Risk of License Expirations

Another major benefit of ITAM technology is the ability to track and manage software licenses in a business environment. Managing and watching license expiration dates can help companies to avoid the unexpected costs and penalties of software audits. You’ll be able to track exactly when each software license needs to be renewed, reducing the strain on your budget. Knowing when your licenses are set to expire should mean you don’t have to face the risks of employees coming to work one day and being unable to access the tools they need. It can also ensure you will be able to continue taking advantage of any loyalty-based discounts on your purchases. With a complete view of your technology and how teams are using the IT assets available to them, you can also make better decisions about which licenses should be renewed and where you may need to look into new technology purchases.

Making the Most of Your IT

Leveraging your IT investments correctly isn’t just about ensuring you have access to the latest hardware and software. To get the best results from your investment, you’ll need to ensure you’re tracking your assets properly. An IT asset management system can ensure you’re using your business budget as wisely as possible when it comes to IT while protecting you from security and performance issues. The only way to discover the benefits is to try the technology for yourself.


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