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ou want to manage your software assets in one place and take the right decision about your assets. It’s time you should consider deploying the Asset management software for your business.  Truly, it’s difficult to manage and track all your hardware, software and other IT assets without a defined plan and a streamlined process. Therefore, it’s necessary for an organization to implement an IT asset management (ITAM) process.  Essentially, it helps firms cut down on any additional maintenance cost, optimal use of licenses, reduce the number of unused assets and prepare for audit checks of software. Further, it also helps you to take an effective decision on the purchase of new software and plan for the explicit budget. Moreover, it also minimizes the administrative cost and provides your business greater visibility of your asset usage, maintenance, and cost. 

Basically, asset management is a centralized system that helps your business monitor the important functions of each asset and assess real-time security risks. However, many IT experts consider IT asset management as IT inventory management. Primarily, it involves collecting the details of software and hardware inventory information. This information is crucial for making effective decisions while purchasing assets and how they use them. Hence, if you have an accurate IT asset inventory, you can use your assets more effectively and avoid unnecessary assets purchase. Rather, you can re-use your existing resources. Moreover, IT asset management helps your business lower the costs of the risk for new unknown IT projects. 

 Why IT companies should need Asset Management

Many IT organizations spend a lot of time and energy managing company assets. Well, everybody knows that IT assets are costly to purchase and maintain. Hence, asset management plays a critical role. Since, it ensures the IT team makes systematic and optimal use of the resources of the organization. Hence, with a robust asset management system, the management and IT professionals can review, assess and monitor all types of assets within their organization. 

So, here are some of the key objectives of asset management in IT: 

  • Implement compliance with corporate security policies and regulatory requirements. 
  • Increase the productivity of your organization by deploying technology to support business needs. 
  • Help the IT professionals to identify the impacts of business events and confidently make decisions to bring back services to the customers. 
  • Lower the licensing and maintenance costs by removing or reusing the underused resources and licenses. 
  • Minimize and limit the overhead costs of your business for managing the IT environment. 

Asset Management Software 

It goes without saying that asset management is a set of processes with highly in-depth data. In this case, the automation process can help an organization capture, manage, analyze and report on data for all IT assets. So, using asset management software, the management can have a complete picture of the net cost of the IT assets. Further, the asset management application gets all the required information in a single repository. And, this ensures proper asset management and planning in compliance with ISO 55000. 

Below we have listed some essential tool capabilities that companies are incorporating to support asset management processes: 

License  

The asset management tool creates and maintains a repository of license permissions for all software applications deployed within the firm. Consequently, it helps the organization view whether the organization is at risk of a compliance audit or misuse of the license. Consequently, assets get out-dated and require maintenance. So, using an asset tracking tool you can predict the current position of the assets and track them throughout its lifecycle. Thereafter, you can properly check your financials matters and taxations. 

Inventory Automation 

It optimizes the new software or hardware installation in the company’s ecosystem. 

Version  

It helps to automate the deployment process of the typical software patches. So, it ensures your assets are up-to-date and meet the security compliance and regulation standards. 

Warranty  

It helps to track the warranty information of the hardware assets that your organization uses. 

Provisioning 

It allows your employees to place requests for software products and other IT assets. Hence, the provision request process is centralized. And, it captures and assesses the license requirements. At the same time, it also manages the acquisition and deployment process. 

Defined Asset System 

This includes an organization’s financial management system. It introduces the fixed asset repository which is responsible for managing and reporting data to support the financial processes. 

Configuration Management Database (CMDB) 

This is also a part of the asset management system. Usually, it’s an organization’s IT Service Management system. The CMDB gives your organization a centralized repository that you can use to record your IT assets, its configuration and its links with other components. 

 Software Distribution 

It allows you to streamline the license compliance of your software. This involves the administration, installation, deployment, and distribution of any assets to Windows, Mac, and Linux systems. Further, it helps you to schedule the distributions and updates of the assets at convenient times. And, you can also integrate a real-time active directory or LDAP deployments. Similarly, it also enables you to deploy software metering on licensing to reuse or remove unused software. 

Whatsoever, know the details of your assets with the Asset Management software to automate your system and save time, reach our experts.