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Managing IT assets is a lengthy process that cannot be approached as a singular endeavor. Rather, it should take place periodically over time to ensure the long-term viability and effectiveness of the organization’s IT infrastructure.

The success of ITAM is contingent upon fostering and expanding it so as to provide your organization with the return that can be achieved

Below are eight best practices that can help you achieve a successful ITAM program:

Create an accurate IT inventory database
An effective asset management software will provide a comprehensive picture of your company’s IT assets. It can be used to track and record critical details such as the applications installed, how they are being utilized, and when they expire.

An ITAM software that seamlessly integrates with other business management tools to provide a comprehensive inventory of all software, hardware, and network assets. You can gain a complete assessment of the entirety of your network – from servers, desktops, and laptops connected to it – through the utilization of specialized software modules like printers or headsets. The integration provides an unparalleled view into every segment including any associated peripherals; providing you with information about their status at any given time

Effective IT inventory management software is an invaluable resource for overseeing your technological assets. A savvy ITAM tool is a critical aspect of safeguarding your organization against loopholes and enabling patch management.

Deploy ITAM on an Ongoing Basis
The ITAM (Integrated Technology and Accounting Management) system should be fully integrated across your organization, facilitating seamless operations. Undoubtedly, ITAM represents an efficient way to safeguard your IT assets on a regular basis, ensuring that they are protected from any potential threats.

Begin by welcoming them into the practice and providing them with an opportunity to construct it from scratch. If those entrusted with a process are merely instructed in accordance with it, then they may unquestioningly follow along. When individuals are invested in its operation rather than simply informed how to carry it out then they tend to be more inclined towards assisting evolution and enhancing it as time goes by.

Keep it Proactive
The ITAM system can help you be audit-ready, proactively meeting compliance. This strategy not only prevents last-minute chaos but also ensures that all information is captured and any repercussions avoided.

By taking an analytical approach to utilizing your ITAM tool, you gain a far more effective way of handling situations than simply waiting until the last moment (which can lead to greater disorder and the possibility of overlooking vital information).

Adopt the Life Cycle-Based Approach
Implement a lifecycle-based approach to ITAM, eschewing the need to reinvent the wheel. IT Asset Management begins with the time request for purchase is made, and continues until a device is depreciated (or recycled – ensuring software licenses are accounted for as well as preserving historical asset information).

Every IT asset must complete the following phases:
●     Planning
●     Procurement
●     Deployment
●     Maintenance
●     Retirement

Automate as Much as You Can
Through the utilization of automation, your ITAM practice can be enhanced. If you have any opportunity to introduce automation into your daily activities, don’t hesitate – it could bring about an impressive leap forward for the industry! Constantly scout new opportunities for technology-driven automation as it is constantly evolving at a rapid pace.

Are you currently undertaking manual or repeated tasks today? If so, take a moment to reflect on the prospect of automating them. It may be surprising that even seemingly straightforward processes such as patching and application deployment could be automated; yet, there are plenty of opportunities for you to put in place once-and-forget solutions without incurring any additional effort!

Know your software licenses
When it comes to software license management, understanding what you are entitled to deploy is paramount. Organizations often flunk audit evaluations when they cannot demonstrate conclusively that all of their licenses have been properly utilized; a situation which can be misinterpreted as over-deployment.

Don’t take chances! Ensure that your ITAM processes are complete with all the licensing requirements. Make sure that when you deploy your software applications, the deployed instances match up to what was stored – for this will prevent any unpleasant surprises once an audit arrives.

An effective IT asset management service can assist with the following software asset management processes: License management, Software expenditures and Reconciliation.  Through such tools, you can effectively manage all aspects of your investments – safeguarding efficiency while maintaining accuracy.

Educate employees about ITAM policies and procedures.
Employees need to be aware of ITAM policies and procedures in order to properly use assets and comply with regulations. Training programs can help employees understand how asset management works and help them become more effective users of ITAM resources.

Continuously Review and Improve Your ITAM System
ITAM is an ongoing process that requires continuous review and improvement to ensure it is operating optimally. You should regularly evaluate your ITAM system to assess its effectiveness and identify any areas that need improvement. This will help you maintain an up-to-date and accurate inventory of your assets and ensure that your ITAM system is meeting the needs of your business.

Wrapping UP

These strategies are merely a starting point, bear in mind that ITAM must be constantly optimized and nourished. Neglecting ITAM processes, even for a short time, can adversely affect the overall worth of your practice. An incomplete or inaccurate dataset may prove more costly than having none at all; it could result in losing significant value accrued through previous years’ data collection efforts.

Utilize ITAM with the convergence of automated CMDB, Service Mapping, and IT Discovery; call Kinetix’s IT Asset Management Solutions to schedule a demo now!