Many businesses and IT teams just starting with IT asset management (ITAM) have several questions about what IT assets are and the components involved.
In this article, we’ll explain the four components of IT assets and provide some IT asset examples so you can better identify the equipment that qualifies as IT assets within your operations. You’ll want to stick around until the end for all the details.
What Is an IT Asset in ITIL 4?
The ITIL (Information Technology Infrastructure Library) is an excellent resource for ITAM best practices. In their latest version of guidelines (V4), they define an IT asset as any physical or digital equipment your company invests in that provides value to your business.
What Is an Example of an IT Asset?
While there are several types of assets that a company will use (which we’ll cover later on), one primary example of an IT asset is personal computers. Any company that has some kind of office space or digital workstations will have personal computers running many core daily operations.
Computers, like any type of hardware, must be tracked and managed appropriately to get the most value out of them. That includes updates, maintenance, and tracking lifecycles to ensure they are replaced at the right time. It helps ensure everything keeps running smoothly.
What Are the Four IT Asset Components in ITAM?
When putting together an ITAM system, there are four key components you must consider. Those are:
- Applications: Software programs, operating systems, and databases that help complete core tasks and processes within an organization.
- Infrastructure: Hardware assets (servers, workstations, networking equipment) and network components that support and connect IT systems, providing computing power, storage, and networking capabilities.
- Data: Information generated, collected, and processed within an organization, including structured, unstructured, and semi-structured data used for decision-making, operations, and insights. All data must be managed effectively to prevent leaks or loss during equipment transitions and daily operations.
- IT Staff: Professionals responsible for managing and supporting IT assets and infrastructure, performing tasks such as system administration, network management, software development, and user support.
What Are Some Key IT Assets?
Typically, the key IT assets are designated into five unique categories. Here is a brief IT asset category list:
- Hardware Assets: Consist of physical devices such as servers, laptops, printers, and networking equipment that form the infrastructure of an IT system.
- Software Assets: Applications, operating systems, and databases that provide functionality and enable specific tasks on hardware assets.
- Cloud-based Assets: Virtual resources and services accessed online, including cloud storage, virtual machines, and software-as-a-service (SaaS) applications.
- Networking Assets: Devices and components such as routers, switches, and firewalls that facilitate communication, data transfer, and connectivity within a network.
- Fixed Assets: Long-term, non-consumable assets used in an organization’s operations, such as server rooms, data centers, and specialized equipment, typically have a useful life of more than one accounting period.
Out of these key types of IT assets, your hardware assets are the most crucial to manage effectively. It’s hard to use assets like cloud-based systems or software if your hardware isn’t working properly. It’s why our team at Multiply focuses on hardware asset management when helping you create effective systems for success.
IT Asset List Template
When you have so many different types of assets, you need a way to organize all the information. Below is a short template showcasing how you could organize a list of IT assets in your inventory.
Asset Name | Model | Location | Lifecycle Stage |
Server 1 | Dell PowerEdge R740 | Data Center 1 | Deployment |
Laptop 1 | Lenovo ThinkPad X1 Carbon | Office 123 | In Use |
Switch 1 | Juniper EX4300-48T | Network Room 1 | In Use |
Printer 1 | Epson WorkForce Pro WF-4740 | Reception Area | In Use |
Cloud Storage 1 | Google Cloud Storage | N/A | In Use |
Workstation 1 | HP Z4 G4 Workstation | Design Room 1 | Procurement |
Storage Device 1 | Seagate Backup Plus 4TB | Server Room 1 | In Maintenance |
Large organizations typically want to include even more data than this, such as equipment cost, depreciation, and serial numbers. So take this as just a brief outline of what the data would look like. Our team at Multiply can help you set up more comprehensive IT asset inventory systems to organize all the data from your hardware assets effectively.
How Multiply Can Help
If you need assistance with IT asset and data management, our team at Multiply would be an excellent partner.
We’re a team of IT consultants and senior service technicians with over a decade of industry experience. We’ve learned the best practices for success and created our own streamlined systems that make ITAM much easier for businesses to manage.
We can assist in creating an inventory using our complete asset journey platform, conducting regular self-audits, and getting all team members involved by bridging communications between everyone.
To learn more about how Multiply can support your ITAM needs, contact us today!
