#Asset management software categories license
#Asset management software categories series

When the value is no longer greater than the cost of replacing the asset, the time has come to dispose of it and transition to a replacement solution. Sooner or later, assets begin to deliver diminishing value. Typical maintenance includes repairs, upgrades, and updates that extend their usefulness over time. MaintenanceĪssets require ongoing care and attention throughout their lifecycle in order to deliver ongoing value. To get the most value out of an asset, it needs to be integrated into an existing IT infrastructure so it can interface with other assets to generate increased value. AcquisitionĪn asset can be obtained in a number of ways, including building, buying, leasing, and licensing. Even intangible data assets are obtained after a period of planning that lays out what assets are needed, how they will be obtained, used, and funded. PlanningĪssets don’t just appear out of nowhere.

#Asset management software categories series

This period is known as its asset lifecycle, and most ITAM practices break it down into a series of stages. Most assets, whether they’re physical or intangible, are only useful for a limited time before their value begins to diminish. Many companies are treating data as a key IT asset that must be valued, managed, and maintained throughout its lifecycle just like any piece of hardware. Today’s organizations amass and utilize huge amounts of data from a variety of sources. A company-issued laptop, for instance, counts as an IT asset, but an employee’s personal smartphone they utilize in the course of their work does not. Employee-owned devices, however, would not fall under this category. Company-Owned DevicesĪny computers or other hardware devices that interact with the company’s IT network are considered assets. Much like software licenses, the leasing agreements used to access third party infrastructure (such as a colocation data center) are often treated as IT assets. Critically, the asset here is the license, not the software.

#Asset management software categories license

This category applies to any program or application a company has purchased a license to utilize. These programs are distinct from cloud-based software or licensed software. In-House Software or ApplicationsĪny programs written or designed by an internal team that are wholly owned and controlled by the company qualify as IT assets. Examples of these assets might include routers and switches, network inspection devices, physical servers, and data centers. This category includes the hardware typically associated with network systems managed by a dedicated IT department. With that in mind, here are a few general examples of what companies generally think of when it comes to inventorying and managing IT assets. Today, however, seemingly every aspect of a business could potentially fall under the broad umbrella of IT assets. When organizations confined their technology stack to a single data room that hosted internal servers, the distinctions were easy enough to make. The increasing complexity of network systems can make it difficult to distinguish what counts as IT assets. But, the importance of asset management for your company’s IT components cannot be overstated. It’s also an ongoing process-one requiring continuous vigilance on the part of your IT department (or managed IT/security services provider) as you monitor your asset lifecycle to rotate out old hardware and integrate new equipment.īasically, IT asset management is a lot of work-which may explain why so many companies fall behind on this critical task. Others might say that an ITAM process is “inventorying all of the assets on your network,” which would be a partial answer, at best.Ī more complete definition would be an all-encompassing program for tracking what assets are on the network, verifying that each asset is up-to-date with any security or software patches, as well as ensuring that each asset on the network is sufficiently protected and properly configured. Some might say it’s “getting the most value of out a business’ assets.” This isn’t technically wrong, but it’s not why ITAM is important for your IT network components. The role and purpose of IT asset management (ITAM) may change from one person to the next. If you were to ask three different experts what “asset management” means, you’d get three (or possibly more) answers. However, the sad truth is that most modern organizations have no clue what IT assets are on their networks, let alone follow the best practices for managing them.

From the obvious (computers, routers, and other physical equipment) to intangible software assets, most modern businesses couldn’t function if they didn’t have access to these systems. Your IT assets come in all shapes and sizes.