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How to Simplify IT Asset Management with ESM

02/07/2019 by: Jaime Spector

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When you think of IT asset management, the phrase that first comes to mind is most likely “necessary evil.” You need to keep track of your IT assets, but it can be a tedious, time-consuming process to do so. 

What if there was a way to simplify IT asset management? It can be automated to make it more efficient, and ITAM can also be combined with enterprise service management so you can get even greater ROI from your ITSM solution – read on to learn more. 

The Benefits and Challenges of IT Asset Management

ITAM refers to a set of business practices that combine financial, inventory and contractual functions so organizations can optimize their spending and support lifecycle management and strategic decision-making within the IT department. IT assets are any company-owned information, system, or hardware used in business operations. The IT asset management process involves gathering an inventory of a firm’s hardware, software, and network assets so that the right decisions can be made about IT-related purchases and redistribution.

Knowing what assets you have, where they are, and who’s using them is obviously important. For example, you wouldn’t invest in new software unless you knew your current software wasn’t being supported anymore. However, the process of gathering that information takes valuable time, and even if you’re using ITAM software, it isn’t necessarily integrated into your ITSM solution. 

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Reaping the Advantages of IT Asset Management 

What if you could reap the benefits of IT asset management without having to deal with the drawbacks? ESM solutions are the answer. 

How is that possible? ITAM tools can be combined with ESM solutions. Instead of manually cataloging asset information or entering information into a separate ITAM system that results in a data silo, an ITAM-enabled ESM solution brings vital information together for better decision making. 

“Gartner clients who successfully implement IT asset management solutions typically achieve 30% cost savings in the first year”

We’ll illustrate with an example of how an ITAM-enabled ESM solution could look like in action. Let’s say a mission-critical software program is no longer being supported by the vendor. At the same time, the program grows ever more glitchy, producing error message after error message. 

If your ITAM solution wasn’t integrated into your ESM tools, you wouldn’t make the connection between the tickets submitted to the help desk about the error messages and the end of vendor support. You would waste precious time and effort trying to investigate the root cause of the problem. 

“Can you run your business without technology? If you are not managing your technology, you are not managing your business.” Dr. Barbara Rembiesa, IAITAM CEO

An ITAM-enabled ESM solution, on the other hand, would give you insight into the problem almost immediately. You could see that the product is out of date and is no longer supported by the vendor, providing the impetus to make a better decision about software. 

Today’s businesses run on technology. That technology must be properly managed and tracked, though. ITAM-enabled ESM solutions allow you to do that easily and efficiently. To learn more about ESM, download From ITSM to ESM: The Evolution of the Digital Enterprise.

| esm / enterprise service management