IT asset management (ITAM) is the discipline of managing, monitoring, securing and orchestrating all technology assets owned or controlled by an organization. ITAM is critical for controlling costs, streamlining IT processes and procedures, fulfilling compliance and audit requirements and maintaining a strong security posture.
According to Gartner, “IT asset management (ITAM) provides an accurate account of technology asset lifecycle costs and risks to maximize the business value of technology strategy, architecture, funding, contractual and sourcing decisions.” ITAM is the responsibility of the IT team and the CEO but works closely with the finance and procurement, compliance, technology and security teams to deliver better business agility and performance. Increasingly, as IT and technology have become a core function critical to business strategy and execution and a growing cost center, well-executed ITAM has become a strategic imperative for enterprises.
To this end, ITAM incorporates many traditional IT functions including service and help desk, device and software maintenance, license and warranty monitoring, equipment refresh and more. ITAM plays a key role in service delivery, compliance and audit for important certifications (SOC2, ISO 2700, HIPAA), maintaining a strong security posture and rapid incident response, and delivering a seamless employee onboarding experience.
The scope of ITAM has grown with the scope of technology.ITAM originally focused on hardware and installed software but increasingly it covers the management of SaaS and cloud infrastructure assets. Over time, various sub-functions of ITAM have been stovepiped into their own categories including Software Asset Management (SAM), Mobile Device Management (MDM), Configuration Management Database (CMDB), Cloud Service Brokerage (CAM) and Universal Endpoint Management (UEM). You can also consider asset tracking, asset monitoring, asset inventory management, and asset compliance and security all as features and components of ITAM – each of which is often treated as a stand-alone product (and there are, in fact, stand-alone offerings on the market).
This comprehensive guide to ITAM will cover everything you need to know to compare, shop for, deploy and build a strategy around ITAM. The article will discuss:
Hopefully, this primer provides a useful oversight of ITAM solutions including the benefits, processes, and desired capabilities. As the digital transformation shifts more and more business processes into technology, every enterprise will require an ITAM software solution. Mastery of ITAM will become a core competency and a distinction that separates the most efficient and agile enterprises from the rest of the pack.