IT asset management (ITAM) is the process of identifying, tracking, and managing the lifecycle of all information technology (IT) assets within an organization. This includes everything from computers and software to furniture and equipment. ITAM helps organizations keep track of their IT assets to optimize utilization and save money.
Additionally, ITAM can help organizations comply with regulatory requirements, such as Sarbanes-Oxley (SOX) and the General Data Protection Regulation (GDPR). The IT asset management checklist is a comprehensive guide to keeping your assets in order. By following this checklist, you can ensure that your assets are properly managed and utilized. This checklist can also help you save time and money by identifying assets that are no longer needed or used.
What does the checklist include?
The checklist includes the following items:
• Identifying your assets
The first step is to identify all your company's assets. This includes everything from computers and software to furniture and equipment.
• Creating an inventory
Once you have identified your assets, you need to create a list of all of your help. This inventory should include a description of each asset and its serial number, purchase date, and current value.
• Determining the value of your assets
Once you know what assets you have, you need to determine the value of each asset. This will help you decide which investments are worth keeping and which can be discarded.
• Creating an inventory of your assets
An inventory of your assets helps you keep track of what you have and where it is located. This inventory can be used to create a master list of all company assets.
• Updating your asset management system
As your company changes, so will your asset management system. So be sure to keep your system up to date by adding new assets and removing old ones.
• Streamlining your asset management process
There are several ways to streamline your asset management process. By automating specific tasks, you can save time and money.
• Getting started with asset management
If you're unsure where to start, several resources are available to help you get started with asset management.
The last step is regularly monitoring and reviewing your asset management program. This will enable you to pinpoint any areas needing improvement.
The Benefits of IT Asset Management
There are several benefits that can be gained from implementing an effective IT asset management program. These benefits include:
• Reduced IT Costs
By tracking and managing all IT assets, organisations can avoid the waste of purchasing duplicate or unnecessary items. In addition, organisations can avoid paying for unused licenses and unneeded software subscriptions.
• Improved Decision-Making
With all information about IT assets in one place, organisations can make more informed decisions about which assets to invest in and how to best utilise existing assets.
• Reduced Risk
Having an accurate inventory of all IT assets can help organisations avoid compliance issues and legal penalties. In addition, by keeping track of asset life cycles, organisations can plan for upcoming replacement needs, preventing service disruptions.
What assets should you be tracking?
There are several assets that businesses should track as part of their asset management processes. These consists, but are not restricted to:
- Computers and other IT equipment
- Software licenses
Keeping track of these assets helps businesses ensure that they are being used efficiently and in compliance with regulatory requirements.
Getting Started with IT Asset Management
If you’re looking to set up an IT asset management program, there are a few steps you need to take to get started. These steps include:
1. Define the Scope of Your Program
The first step is to decide which assets you want to include in your program. Typically, most organisations will have all hardware, software, and licenses in their program.
2. Create an Inventory
Once you've defined the scope of your program, you need to create an inventory of all relevant assets. This inventory should include the asset type, make/model, serial number, purchase date, and location.
3. Set Up Tracking
Once you have an inventory of your assets, you need to set up tracking for each one. This tracking should include the asset type, make/model, serial number, purchase date, and location.
4. Implement Your Program
Once your program is set up, you must implement it across your organisation. This involves training employees on how to use the program and ensuring that all new assets are added to the system promptly.
Building Blocks of IT Asset Management
To build an effective IT asset management program, a few key elements need to be in place. These building blocks include:
• Inventory Management
An accurate inventory of all IT assets is the foundation for an effective asset management program. Without knowing what assets an organisation has and where they are located, it's impossible to manage them properly.
• Asset Tracking
Once an inventory of assets has been created, each support needs to be tracked throughout its life cycle. This tracking includes information such as purchase date, location, and owner.
• License Tracking
For software assets, it's essential to track the asset itself and the associated licenses. This includes information such as the number of permits, expiration date, and cost.
• Contract Tracking
For hardware and software assets, tracking any associated contracts is essential. This includes the vendor, service level agreement, and renewal date.
• Maintenance Tracking
For all types of assets, tracking any associated maintenance or support contracts is essential. This includes the vendor, service level agreement, and expiration date.
• Disposal Management
When an asset reaches the end of its life cycle, it's essential to have a process in place for disposition. This process should include data wipes or destruction for security purposes and resale or recycling to recover some of the asset's cost.