What Is IT Asset Management?

IT Asset Management, sometimes called ITAM, is a form of asset management specifically for different technological assets. Over the years it has fluctuated and its applications because there are so many different audiences who need to use it. Different tools including hardware and software that a company uses which may or may not be considered a technology asset but nonetheless has to be controlled.

Understanding IT Asset Management

asset management

IT asset management is a type of business practice where you manage your technological assets within your organization. What does this include?

  • This includes keeping track of how your current IT assets are being used and where you might be able to implement changes for the better, 

  • It also includes reviewing the licenses you have for any software or hardware your company uses and ensuring they are current, and if they are not, updating them, 

  • Finally, it includes making sure you know what items are being used by your company, often by keeping track of IT assets through a list of which hardware and software is within the organization. 

What makes for best Asset management?

When it comes to managing your IT assets, you need to keep as close an eye on the IT side of things as you do with the financial side of things, or with the sales side of things. 

Technological assets can be just as valuable if not more valuable than the physical assets your company has, especially as people are turning to an increasingly digitized world. By following best asset management practices you can stay up-to-date on the metrics you should be applying against your assets, the security measures that you should have in place, how you can go about discovering new assets that might make your company more successful, and so on.

If you look at different types of IT assets, they can be easily broken down into four main categories:

  1. Software asset management

Software is one of the most challenging areas for asset management because it requires a great understanding of the different devices on which your software might be used including smart televisions, smart devices in the home, in addition to regular computers. You also have to make sure someone is responsible for compliance issues and any licensing. You should be constantly reviewing things like compliance and licensing as well as the devices on which your software is installed to meet the demands of your company

  1. Hardware asset management

Hardware asset management of course refers to physical devices like laptops, desktop computers, copiers, printers, or any devices that your company uses for things like data management.

  1. Mobile device asset management

Tangentially mobile devices and mobile data need to be properly secured and managed. It doesn't matter what industry you operate within, any organization that utilizes mobile devices or has apps for the company used on mobile devices needs to be aware of what applications are downloaded by employees, which applications on a mobile device might benefit the company, and instigate practices to verify this regularly.

  1. Cloud asset management

Cloud managementCloud management might seem next to impossible, but your organization needs to make sure that anything you put on the cloud is accessible at all times and secure at all times.

Under three of these categories, software, mobile device, and Cloud management, you might need to manage assets for Online Casino Software Solutions. Online casino brands like we find in 7alalcasino are considered just that, online and yet with that comes a greater responsibility for making sure that online assets are properly managed and protected so that your company doesn't lose out on potential profits, fail to keep security licenses up-to-date, or have your proprietary designs stolen.

Of course online casinos are not the only industry that needs to consider integration of all four of these categories. Law firms will need to manage the software they use, particularly proprietary legal software as well as any cloud-based storage for case files, mobile devices that allow attorneys to access case files from anywhere, and of course the physical hardware that exists within the law firm. The same can be said for any organization operating within the healthcare industry particularly where security measures are concerned and where patient files are stored. Utilizing asset management for these types of technological assets can increase the efficiency of the office, provide better data security, improve compliance with any software used within the office, make it easier for communication between different departments, and reduce the cost of these assets long-term by way of making sure everything is up to date at all times and is serving a good purpose within the company.

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