IT asset management (ITAM) is a structured system for organizing, provisioning, deploying, maintaining, and deprovisioning business assets. It allows organizations to keep track of IT assets like hardware and software systems, as well as the data those systems process.<\/p>\n\n\n\n
All organizations use IT assets to generate value. As an organization grows, the number and variety of assets expands at a rapid pace. Keeping track of those assets is the first step toward managing and securing them effectively.<\/p>\n\n\n\n
Keeping all of these different assets organized is a major challenge for IT leaders. Most startups and small businesses address IT asset management needs with a simple spreadsheet. However, maintaining an accurate, up-to-date, and error-free spreadsheet quickly becomes a time-consuming process that limits growth in other areas.<\/p>\n\n\n\n
ITAM technology provides a simple, centralized solution for identifying and controlling IT assets in complex environments. Automating asset management frees IT professionals to spend more time on higher-impact strategic initiatives while dramatically improving the organization\u2019s overall security posture<\/a>.<\/p>\n\n\n\n IT Asset Management helps organizations secure the tools and systems they use to conduct business. It gives the IT team visibility into all the different assets the organization uses. It also helps identify vulnerabilities, mitigate risks, and apply patches in a timely manner.<\/p>\n\n\n\n Unmanaged assets increase security risks and drag down performance. The average business uses between 121 and 182<\/a> unsanctioned software-as-a-service (SaaS) applications, which offer no visibility or control to security teams. These unmanaged applications can account for more than 50% of the enterprise\u2019s entire tech stack.<\/p>\n\n\n\n At the same time, most IT departments struggle to keep up with new technology requests. This creates backlog issues that impact security and performance. It can also drive users to use IT resources without approval.<\/p>\n\n\n\n When cybercriminals conduct reconnaissance on potential victims, they can easily discover these unsanctioned applications. Nearly half of all cyberattacks<\/a> stem from shadow IT<\/a>, and the average cost of fixing them amounts to more than $4.2 million<\/a>.<\/p>\n\n\n\n\n\n Assets include everything from desktop and laptop workstations to software applications, cloud microservices, and everything in between. Every technology, system, or resource in your IT environment is an asset.<\/p>\n\n\n\n There are three main asset classes that ITAM solutions can help manage. Each of these asset categories come with different requirements that the IT team must consistently address.<\/p>\n\n\n\n Hardware assets<\/a> include physical equipment used to store, process, and transmit data. That includes end user devices, networking hardware, datacenter equipment, and any peripherals employees use. It also includes connected Internet of Things (IoT) devices like smart appliances and access control systems.<\/p>\n\n\n\n Physical equipment must be deployed, configured, maintained, and eventually deprovisioned as part of its lifecycle. Conducting physical hardware maintenance often means dispatching technicians to the physical location of the equipment.<\/p>\n\n\n\n Deprovisioning physical hardware also presents challenges to IT teams. Obsolete systems may still contain data threat actors could use to conduct cyberattacks. Employee-owned equipment must be decommissioned when departing employees leave the company. <\/p>\n\n\n\n Software assets include the applications employees use to generate value on a day-to-day basis. Every layer of an organization\u2019s tech stack corresponds to software assets. These must all be licensed, budgeted, maintained, and managed effectively.<\/p>\n\n\n\n Software asset management can be incredibly complex, even for an organization of modest size. That\u2019s because software applications come with numerous requirements that must be factored into the asset management process, such as:<\/p>\n\n\n\n Network assets include servers, routers, switches, and other components of the organization\u2019s IT network. In the past, these devices were almost entirely hardware-based, but now software and cloud-hosted options have widened the playing field for IT leaders.<\/p>\n\n\n\n Managing these assets effectively means gaining deep insight into how well they support business objectives and how they might scale to meet future goals. Most organizations use a variety of hardware and software networking assets. Finding the right balance between the two is vital to ensuring stable, predictable growth.<\/p>\n\n\n\n IT leaders with excellent network asset management solutions in place can quickly react when the organization\u2019s networking needs change. They can increase the efficiency of IT infrastructure while planning ahead for future deployments in a cost-effective way.<\/p>\n\n\n\n Including network asset management as part of a comprehensive ITAM solution helps maintain reliability and reduce downtime. It also contributes to security, especially when combined with technology that grants visibility into unauthorized network traffic patterns.<\/p>\n\n\n\n Every IT asset follows a predictable lifecycle. Efficient IT leaders manage each phase of the lifecycle in a structured way. This is one of the main advantages to creating an integrated IT asset management policy<\/a> and enforcing it with ITAM technology. <\/p>\n\n\n\n The IT management lifecycle can be broken down into nine major steps. Here\u2019s an overview of each one:<\/p>\n\n\n\n Most organizations pursue ITAM initiatives when manually managing assets becomes too time-consuming and cumbersome for the team. Effectively transitioning to an IT asset management framework can be challenging, but IT leaders can improve results by adhering to the following best practices.<\/p>\n\n\n\n The organization needs a complete set of policies and procedures that outline the IT asset lifecycle from start to finish. These policies will form the basis of ITAM deployment, providing clear insight into the business problems the deployment is meant to solve and ensuring consistency throughout the initiative.<\/p>\n\n\n\n Most organizations start the IT asset management process by manually updating spreadsheets. There are strict limits on how far the organization can grow before this becomes impractical. Automated inventory tracking and management plays an important role enhancing the overall productivity of the IT team.<\/p>\n\n\n\n Errors complicate the IT asset management process and increase the organization\u2019s overall exposure to security risks. Conducting internal audits helps catch discrepancies and irregularities before they lead to problems. Consider adopting a proactive approach to verifying the way IT staff put ITAM policies into practice.<\/p>\n\n\n\n Employees who aren\u2019t familiar with ITAM policies are likely to find new deployment requirements confusing, or even dismiss them as unnecessary. Effective training should focus on demonstrating the value of ITAM and provide guidance on using it to meet organization-wide security goals.<\/p>\n\n\n\n IT leaders often pursue ITAM deployments as part of a wider push toward regulatory compliance<\/a>. Popular frameworks like NIST SP 1800-5<\/a> and DORA<\/a> specify strict IT asset management requirements. Federal agencies like the U.S. Department of Defense have well-defined requirements (DoD 5000.64<\/a> and DoD 4140.73<\/a>), as well.<\/p>\n\n\n\n Many modern ITAM platforms are designed specifically to meet these kinds of requirements. Preconfigured compliance configurations help IT leaders meet compliance goals without having to build an entire asset management structure from scratch.<\/p>\n\n\n\n Some of the major benefits ITAM offers IT leaders include:<\/p>\n\n\n\n Implementing ITAM in a complex enterprise environment is not always easy. Here are four obstacles to optimal asset management that IT leaders frequently encounter:<\/p>\n\n\n\n As the number of value-generating IT assets available to organizations grows, the enterprise tech stack is only going to become larger and more complex. Emerging technologies like generative AI are likely to expand the average enterprise asset inventory even wider than it is today.<\/p>\n\n\n\n That means that the enterprise attack surface is also going to expand. Keeping track of rapidly changing IT asset inventories will require highly automated ITAM platforms capable of leveraging the latest technologies to discover, categorize, and manage a variety of devices and applications.<\/p>\n\n\n\nWhy Is IT Asset Management Important?<\/h2>\n\n\n\n
What Is an IT Asset? Key Components of ITAM<\/h2>\n\n\n\n
Hardware Asset Management<\/h3>\n\n\n\n
Software Asset Management<\/h3>\n\n\n\n
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Network Asset Management<\/h3>\n\n\n\n
The IT Asset Management Lifecycle<\/h2>\n\n\n\n
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Best Practices for Successful IT Asset Management<\/h2>\n\n\n\n
1. Establish clear IT asset lifecycle policies first<\/h3>\n\n\n\n
2. Prioritize automated inventory tracking<\/h3>\n\n\n\n
3. Conduct regular internal audits<\/h3>\n\n\n\n
4. Train employees to use standard procedures<\/h3>\n\n\n\n
IT Asset Management and Compliance<\/h2>\n\n\n\n
Benefits of Effective IT Asset Management<\/h2>\n\n\n\n
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Common Challenges in IT Asset Management<\/h2>\n\n\n\n
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Future Trends in IT Asset Management<\/h2>\n\n\n\n