Business owners or IT decision-makers who are researching IT asset management (ITAM) often wonder how it works and what the IT asset management process looks like.
In this article, we’ll share a thorough IT asset management example and provide you with more information on how ITAM systems can be implemented successfully. Keep reading for all the details.
What Is IT Asset Management?
IT asset management is a system that can be used to organize all the data and processes involved with the computer equipment you own. Every piece of equipment has its own unique lifecycle and characteristics that must be managed successfully to get the best results for your business.
During ITAM, you’ll typically see a five-step process deployed that goes as follows:
- Creating and updating an inventory of computer equipment, which may be managed through IT asset management software.
- Following processes and protocols for purchasing new equipment within a given company budget.
- Deploying new equipment successfully to avoid malfunctions or disruptions to business operations.
- Continuously maintaining, updating, and auditing IT assets and monitoring processes to ensure compliance.
- Disposition of old assets as they age, including selling equipment for the best value, erasing all stored data and recycling old equipment that can’t be sold using compliant processes.
Within these five stages that encompass the entire asset management lifecycle, there will be individual steps that comprise the core procedures involved in each one. That’s why having a defined asset management system is essential to a company’s success. Let’s look at a specific IT asset management example to see how it can be used.
What Is an Example of IT Asset Management?
Sarah is in charge of ensuring device compliance across a global company. However, she is running into several issues as she tries to ensure clean data tracking and reporting across each of the company’s locations.
While she wants to deploy a regular auditing system, she’s finding it tough to implement with everyone operating on a different schedule. Many teams involved also track and manage their data in different formats, such as an Excel sheet or pen and paper, so the information isn’t easy to compile to make clear decisions about how to improve company operations.
Sarah knew that she needed help in this process, so she decided to partner with Multiply. Upon bringing Multiply on board, they created a new system to make compliance across company locations much easier to manage. Multiply helped:
- Streamline audit scheduling for technicians and auditors.
- Replace manual spreadsheets with real-time capture of audit findings.
- Automate device remediation and reporting processes.
- Facilitate communication between all teams involved to keep everyone on the same page.
With Multiply on the job, Sarah could make better business decisions knowing she had fully compliant and streamlined data reporting from every company location.
What Is the Role of IT Asset Management?
The primary role of IT asset management is to create an organized system that helps businesses get the most value out of the computer equipment they invest in.
Along with that, you’ll find it has several other functions in business operations, such as:
- Setting and communicating policy for purchasing processes, data collection and management, asset disposition, regular maintenance procedures, and more.
- Identifying, assessing, and quantifying risks associated with key decisions about computer equipment. Risk management and prevention ensure equipment continues running well and avoid big disruptions in business operations.
- Assigning assets and responsibilities for managing them. There are several types of assets in a business, like hardware, software, and cloud-based assets. Each has its own unique characteristics that must be managed accordingly. Our team at Multiply can help with all your hardware asset management needs.
- Creating better teamwork and a more productive environment. ITAM ensures teams communicate and collaborate effectively. That way, everyone is on the same page and knows what they must do to be successful and has the equipment they need to do so.
As you can see, ITAM has several roles in a business that will have many benefits. Let’s take a look at what some of the primary deliverables are that you’ll get from investing in an ITAM system.
What Are the 3 Main Deliverables of IT Asset Management?
When you invest in ITAM, you can expect many benefits and deliverables. The three primary deliverables are:
- Save money and improve the bottom line by getting the most value from computer equipment.
- Create an organized system that is easier to manage and creates a more functionally sound working environment.
- Facilitate team communication to help everyone work together and create a happier workplace.
As you can see, ITAM benefits an organization on all levels. Your employees will be happier, you’ll improve your bottom line, and you’ll even have more efficient processes that deliver a better end product or service to your customers.
How Multiply Can Help
Multiply can help you achieve the main deliverables and benefit from IT asset management.
We’re a team of IT consultants and senior service technicians who have been refining our processes for effective asset and data management for over a decade.
When you partner with us, we’ll help you create an effective inventory, perform asset discovery, conduct audits, and facilitate communication between all teams.
We provide more than software or systems for success, we get in on the ground floor with you to help you implement it successfully. It makes your life much easier and takes work off your busy schedule.
Contact us today to learn more about partnering with Multiply and ways we can help with your IT asset management needs!
