Information Technology Asset Management (ITAM)

 

A critical component in the maturity of an IT department is the accuracy of their asset management. ITAM introduces discipline and maturity through accountability and controls. It’s a fact that a mature IT department will be significantly less expensive than an immature department. Introducing the Asset Management Life Cycle leads to cost avoidance and cost reductions that are immediately recognized by the business. It also addresses critical governance and controls required for security and compliance. IT leaders recognize that Asset Management is the only department under their control that reduces and controls IT spend.

Leaders are looking for effective measures to reduce their IT spend. When an organization knows what infrastructure assets they own and where those assets reside, they can better provide service continuity and service availability and can more effectively manage the costs of IT services. When implemented, ITAM processes capture an organization’s asset portfolio details, such as asset configurations, contractual terms and conditions, ownership and financial attributes. A comprehensive, centralized ITAM program can make accurate, up-to-date information available as needed for billing, reporting, harvesting and reusing assets, asset allocation, budgeting and chargeback of IT services to meet business goals

 

Some first steps to implement ITAM are:

  1. Policies must be written and adopted
  2. Processes must be developed and deployed
  3. Resources may need to be hired and trained
  4. Tools may need to be evaluated and deployed

 

 

Few things in your control have a bigger impact to the bottom line than the accuracy of your IT assets because inaccuracy has an enormous cost to an organization as well as other negative impacts. Optimization and efficiency through ITAM is a proven method of reducing IT spend. Investing in accuracy is investing in cost reduction and cost avoidance. Every dollar saved is directly reflected on the bottom line of the organization. The solution to inaccuracy isn’t expensive or burdensome to the organization, but it does require experience and determination.

Engaging Cloudify to perform an ITAM examination is a solid first step to introducing discipline and maturity into your organization. The examination will be a roadmap to reductions in costs and increases in efficiency as well as introducing critical controls and governance.