Modern IT environments are getting pretty complicated. With remote work and bring-your-own-device (BYOD) policies becoming the norm, companies have a mix of gadgets to keep track of. Plus, cyber threats targeting mobile devices are on the rise, so staying on top of updates and security patches is crucial.
IT asset management (ITAM) is here to save the day! By keeping tabs on all your IT assets from start to finish, ITAM helps you know when to update, retire, or secure your devices. It's all about having full visibility and control over your tech.
What is IT asset management?
First things first, let's define what an IT asset is. These are the physical and digital tools your company uses daily. Think of things like:
- On-premise software tools
- Cloud-based software apps
- Computers
- Desktops
- Monitors
- Smartphones/Mobiles/Tablets
- Telephones
- Routers and servers
ITAM supports these IT assets throughout their entire lifecycle. From deployment and configuration to monitoring and management to upgrades and disposal, ITAM ensures that these assets are able to do their jobs and support the business.
Value of ITAM
Why bother with ITAM? Well, a good IT asset management strategy makes sure your team has everything they need to work smoothly. Here are some perks:
- Helping Your Team: ITAM makes sure everyone has the right tools that actually work.
- Securing Your Devices: Keep track of your devices and protect them from threats.
- Managing Loans: Easily lend out and track devices like laptops.
- Cutting Costs: Avoid wasting money on unused tech.
- Streamlining IT Processes: Support ITIL processes like incident and change management.
Developing an IT asset management strategy in 7 steps
1. Define Your IT Assets
Start by figuring out what counts as an IT asset in your organization. This could include:
- Hardware: Laptops, desktops, smartphones, tablets, and other physical devices.
- Software: On-premises applications, cloud-based apps, and software licenses.
- Network Equipment: Routers, switches, servers, and other networking hardware.
- Cloud Services: Subscriptions to cloud platforms and SaaS solutions.
To do this, create a comprehensive inventory list. Use tools or spreadsheets to log every asset, noting details like make, model, purchase date, and current status. This foundational step ensures you know exactly what you have to manage.
2. Set Clear Goals
What do you want to achieve with your ITAM strategy? Clear goals will guide your entire approach. Possible objectives include:
- Improving Security: Ensuring all devices are updated and secure.
- Reducing Costs: Avoiding unnecessary purchases by optimizing existing assets.
- Ensuring Compliance: Meeting industry regulations and standards.
- Enhancing Efficiency: Streamlining IT operations and reducing downtime.
Define specific, measurable goals. For example, "Reduce software license costs by 20% within the next year" or "Achieve 100% compliance with security updates within six months."
3. Establish a Baseline
Know where you stand before you start. Conduct an initial inventory to see what assets you currently have and their status. This will be your starting point for measuring progress. Key activities include:
- Inventory Audit: Document the current state of all assets.
- Performance Assessment: Evaluate how well current assets are performing.
- Utilization Review: Check if assets are being used efficiently or are underutilized.
This baseline helps identify immediate areas for improvement and sets a reference point for future assessments.
4. Choose the Right ITAM Tools
Invest in good ITAM software that fits your needs. Look for features like:
- Automation: Reduces manual work by automating routine tasks.
- User-Friendly Interface: Ensures ease of use for your team.
- Integration Capabilities: Connects with your existing systems like service desks or financial tools.
- Reporting and Analytics: Provides insights into asset performance and usage.
Evaluate several options, consider trial periods, and choose a solution that scales with your organization’s growth and evolving needs.
5. Develop Policies and Procedures
Create policies for how assets should be managed, from acquisition to disposal. This includes:
- Acquisition Policies: Guidelines for purchasing new assets.
- Maintenance Procedures: Schedules and responsibilities for regular upkeep.
- Update Protocols: Processes for applying software updates and patches.
- Disposal Methods: Secure and environmentally responsible ways to retire old assets.
Document these policies clearly and make them easily accessible to all relevant team members.
6. Train Your Team
Make sure everyone knows how to use the ITAM tools and understands the policies. Regular training sessions can keep your team up to date. Key training elements include:
- Tool Training: How to use the ITAM software effectively.
- Policy Familiarization: Understanding the new policies and procedures.
- Security Awareness: Best practices for keeping assets secure.
Consider periodic refresher courses and updates whenever there are significant changes to the ITAM process or tools.
7. Monitor and Review
Regularly review your ITAM strategy to see what’s working and what’s not. Use metrics to measure success and make adjustments as needed. Steps include:
- Performance Metrics: Track key performance indicators (KPIs) like asset utilization, compliance rates, and cost savings.
- Feedback Loop: Gather input from users and IT staff to identify pain points and areas for improvement.
- Regular Audits: Conduct routine checks to ensure the ITAM process is being followed correctly.
These reviews help you stay on top of changes and continuously improve your strategy.
8. Iterate and Improve
ITAM isn’t a one-time thing. Continuously refine your strategy based on feedback and changing needs. Stay flexible and open to new technologies and practices. Steps include:
- Continuous Improvement: Regularly update your ITAM processes based on audit findings and user feedback.
- Stay Informed: Keep up with industry trends and new technologies that could impact your ITAM strategy.
- Adaptation: Be ready to pivot and adjust your approach as your organization grows and changes.
ITAM Best Practices
Implementing an ITAM program can seem daunting. Following these ITAM best practices can help:
- Establish Baselines: Fixing problems is an important component of any ITAM strategy, and it’s impossible to know if something is “wrong” without knowing what normal looks like. By establishing baselines for an organization’s IT assets, it is easier to identify and respond to anomalies before they have a significant impact on an organization.
- Define Metrics: Any ITAM program needs to be able to demonstrate clear value to the business. A crucial part of accomplishing this is to define measurable assets and goals that you can report on. A good starting point is the number of assets under management followed by a transition to focusing on improvements in cost, efficiency, etc.
- Start with Critical Assets: Trying to start managing every one of an organization’s assets at once is overwhelming. A better strategy is to start with the assets that are most important to the business and expand from there. Define critical assets and get them under good management, then step down to less and less critical ones until everything is under management.
- Seek Internal Support: An effective ITAM program provides significant benefits to the organization, but it also requires significant resources. Before implementing an ITAM strategy, seek executive buy-in and champions to ensure that the program has the support and resources that it needs to be successful.
- Track Full Lifecycles: IT assets can experience a significant event at any time in their lifecycles, such as the release of a new update or a vendor declaring end of life for a product. Monitoring IT assets throughout their entire lifecycles puts an organization in a position to detect and respond to these events.
- Keep It Simple: Managing all of an organization’s IT assets is a huge task, so it’s important to embrace simplicity where possible. Instead of using a variety of standalone tools to solve different problems, select a solution that has all of the capabilities that you need to effectively manage your IT assets.
- Conduct Audits Regularly: The longer that a potential problem (such as a lost or stolen device) goes undetected, the greater the possible harm to the organization. Performing regular audits helps to identify issues and correct them early.
- Automate Wherever Possible: The average organization has a number of IT assets, and, in some cases, rapid responses to events are critical. Attempting to manage all of these devices manually is unscalable and unsustainable, making automation essential for effective ITAM.
- Iterate and Improve: ITAM is a big task, and it’s unlikely that an ITAM strategy will be perfect on the first try. Treat ITAM as an interactive process, soliciting feedback and improving based upon it.
IT asset management ensures your organization’s tech infrastructure runs smoothly, supports your teams, keeps devices safe, reduces overhead, and aligns with essential ITIL processes.
At Prey, we're here to help you navigate these challenges. Our IT asset management solutions are designed to give you full visibility and control over your devices and software, from deployment to disposal. With Prey, you can ensure your assets are secure and ready to support your business needs every step of the way.
Remember, a successful ITAM strategy is an ongoing journey. By following the best practices we’ve outlined, you'll be on the right track to optimizing your IT assets and boosting your organization’s efficiency.
