IT Asset Management is often referred to as ITAM.
ITAM definition: IT Asset Management (ITAM) is the process of overseeing the complete lifecycle of an organization’s IT assets from planning to procurement and maintenance to disposal. It covers physical, software, hardware and cloud assets.
IT Asset Management is vital for IT Operations Management (ITOM). Both underpin IT Service Management (ITSM). With ITOM, ITSM and ESM in one license, IFS assyst has ITAM capabilities that offer a comprehensive view and management of your IT assets.
Organizations lacking an ITAM strategy expose themselves to significant risks from compliance issues to wasted resources, lack of direction and costly investments.
Effective IT Asset Management brings several benefits to organizations, including:
IT Asset Management can be implemented through dedicated ITAM software solutions, which automate many of the processes associated with asset tracking, inventory management, and reporting. These tools help organizations maintain accurate and up-to-date information about their IT assets.
IT Asset Management has a set of core processes that organizations use to manage their IT operations efficiently and effectively. These processes are designed to ensure that IT services align with business needs, deliver high-quality service, and promote continuous improvement.
Key components and activities of IT Asset Management include:
Reporting and Analytics: Generating reports and analytics to provide insights into asset usage, costs, and performance. This information helps in making informed decisions and optimizing IT resources.
ITAM is essential for organizations to ensure that their IT operations are reliable, maximizing availability, and aligned with business goals.
There isn't a single dominant IT Asset Management (ITAM) framework like there is for some other areas of IT, such as IT Service Management (ITSM) with ITIL. However, there are widely recognized best practices and guidelines that organizations often follow to implement effective ITAM processes.
Here are some popular frameworks and guidelines for IT Asset Management:
NIST Special Publication 800-53: The National Institute of Standards and Technology (NIST) publishes guidelines, including Special Publication 800-53, which includes security and privacy controls for federal information systems. It addresses aspects of IT asset management related to security.
When implementing ITAM, organizations often tailor these frameworks and guidelines to meet their specific needs and compliance requirements. Additionally, the landscape may evolve, and new frameworks or updates to existing ones may emerge, so it's essential to stay informed about the latest developments in IT Asset Management practices.
ITAM and CMDB (Configuration Management Database) can seem very similar, especially as they are often associated with each other. While there may be overlaps, they have different practices and functions.
The CMDB (Configuration Management Database) is a record of information on configuration items (CIs). A configuration item is anything necessary to run and deliver an IT service, like settings, relationships and dependencies. The CMDB is a tool used for Configuration Management, which is the process of ensuring all necessary components for the day-to-day operations of IT services run smoothly.
While all Configuration Items can be considered assets, not all assets are CIs. Due to this, some organizations use CMDBs as part of their IT asset management, while others practice configuration management without ITAM.
Successful IT Operations Management and IT Service Management are reliant on knowledge of IT assets. While some specific ITAM solutions are available, it is therefore often more practical to choose a single solution that also includes IT Asset Management.
IT Asset Management software capabilities should include:
IT Asset Management is vital for IT Operations Management (ITOM). Both underpin IT Service Management (ITSM). IFS assyst is one license for ITAM, ITOM, ITSM and ESM.