IT Asset Management

What is an Asset?

For those who are not familiar with the term ‘asset’. It is anything that the company owns as little as stationery, plants, and machinery, etc. It can also be termed as anything that gives a monetary value to the business. However, in the case of ITAM, hardware and software are considered to be assets.

Hence, ITAM helps to manage the assets of an organization with the help of a computer for example calculating the value of an asset when bought and, the value of the asset after depreciation 

Depreciation – the term depreciation means a fall in the value of assets for example the value of an electronic device you purchase in 2017 and 2020 will not be the same even if they have the same configurations.

Steps to building an efficient ITAM process 

 To build an efficient ITAM process it is important that we

• Have a better understanding of the plan we are going to execute
• Plan, organize, and discuss with your team 
• Collect feedback to rectify your mistakes
• Execute the plan

DIFFERENCE BETWEEN ITAM AND ITSM?

A lot of people commonly mistake between the two terms ‘ITAM’ and ‘ITSM’ as mentioned above ITAM helps to manage the assets of a company through IT. Whereas ITSM stands for IT Service Management that refers to implementing, managing, and delivering quality IT services to meet the needs of an organization. Moreover, ITAM help to create standards for IT Service Managers.

IT asset management (ITAM) provides an accurate account of technology asset lifecycle costs and risks to maximize the business value. 

Which is exactly why Collatenet is highly recommended as it provides accurate, reliable and relevant information to their clients in a short period and makes sure to do work efficiently, The organization makes sure to have little to no mistake in the work done and provide 100% satisfaction to their clients. 

WHY CHOOSE ITAM?

There are many reasons as to why we should opt for ITAM few of them are given below

• Easy management of hardware sources 
• Saves time
• Cost friendly 
• Accuracy
• User friendly
• Easy accessibility

There is a little risk that involved in ITAM for example 

•  Misinterpretation of data can lead to wrong outputs.
• The system can breakdown and can cause loss of important data.
• The changing environment can create new technology where individuals will have to understand the system to be able to use it. 

But, we know that there is nothing that can’t be rectified the solutions for the following are given respectively

• In case of misinterpretation of data, avoid distractions while working, reassure the input you have given before accessing the output.
• In case of system, failure try to keep a backup monthly of all your important data.
• There is always a risk in every step we take, we must keep at par with the changing environment and if we fail to do so there is never harm in learning new things.