How to do IT Asset Management the Right Way

If you are new to the concept of IT asset management, there is a lot that might confuse you. The idea is to familiarize yourself with the processes followed by it asset management companies around you, with a mindset to adapt the best practices.

Unless you are an IT expert, or very familiar with the industry, it is often difficult to know where to start, and how to pick the right tools. That is why we are sharing the following article by Gord Watts, that focuses on all the aspects you need to know about pro IT asset management:

IT Asset Management – Process and Best Practice

Life cycle is what you do, and asset tracking records what you’ve done. Process is how you do it. Process is the essence of IT asset management.
It’s all about process.

Gartner Research Director Patricia Adams underscores the importance of process and tool support in managing assets through the entire life cycle:

“ITAM depends on robust processes, with tools to automate manual processes. This data then enables organizations to effectively manage IT assets, vendors and a software and hardware asset portfolio from requisition through retirement, thus monitoring the asset’s performance throughout its life cycle.”

A process is a sequence of activities and tasks for the management of assets through a particular step in the life cycle. Effective processes are designed to achieve specific goals and objectives, take into account corporate policies, standards and procedures, and are modeled on established and proven industry best practices. Proper processes provide control, consistency and accuracy.

Well defined processes that are structured, enforced and automated in a supporting tool are the foundation for IT asset management success.

Best Practice

The quality of processes implemented in support of an IT asset management program is critical, especially for automated processes that are not under direct human supervision.

Best practice is capturing proven and effective know-how and incorporating it into IT asset management processes.

Aside from the specialized ISO 19770 standards and Microsoft® SAM Optimization Model for software management, no generally recognized framework is available for IT asset management comparable to IT service management frameworks such as ITIL® (IT Infrastructure Library) or the Microsoft Operations Framework (MoF). There are, however, three good sources for best practices:

Effective current practices. Whether or not there is an existing IT asset management program, practices are already in place to perform the IT asset management function. In many cases, these practices have been refined over time to become more effective and better matched to organizational needs. There is no substitute for firsthand learning. Taking the time to identify, formally record and institutionalize successful methods already in place as part of the IT asset management program is the most fundamental and important source of best practices.

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IT asset management can revolutionize business productivity and efficiency. If implemented correctly. It requires a great deal of strategic integration of IT with business assets, and creating a harmonic system that works to achieve end-to-end efficiency. To know more, check out this video by IBM that explains what asset management is all about:


Overview of End-To-End Asset Management