IT Asset Management (ITAM) should no longer be a foreign concept – at least, that’s what we’re working towards. ITAM includes creating accurate asset inventories, ensuring compliance with licensing agreements, controlling costs, and maximizing value throughout the asset lifecycle. ITAM integrates with other IT processes to improve decision-making, reduce risks, and enhance overall operational efficiency.
Organizations have procedures in place to manage their IT Assets, but adopting ITAM software has become the best way to manage assets in one place. Below we offer a list of action items your IT Department can do to ensure smooth operations.
Essential Daily Practices for ITAM Success
By incorporating these key daily actions into your ITAM efforts, you can build a solid foundation. This will help you improve your IT infrastructure, reduce risks, and achieve your business objectives. Next, let’s examine these practices more closely.
- Regular Data Audits
Ensure that all asset data is up to date. Audit records, track new asset purchases, monitor transit details, and remove assets that have reached their end-of-life phase. This practice can help prevent discrepancies. ITAM tools like Teqtivity highlight features such as easy vendor integration, keeping you informed about your assets’ transit details. Teqtivity also automatically generates reports on asset data and maintains an active record of the asset lifecycle and user history. - Asset Tagging and Tracking
Asset tagging involves assigning a unique code to each asset for easy identification and tracking. Ensure consistency in creating or assigning asset tags to all new assets as they are received. Teqtivity can automatically assign asset tags or serial numbers as assets are created in the ITAM tool and inventory list. - License Management
Monitor software licenses daily to ensure compliance and avoid over-licensing or under-licensing. Regularly reviewing usage patterns, tracking expiration dates, and staying informed about vendor agreements helps optimize costs, prevent legal risks, and maintain operational efficiency. - Proper Inventory Management from Supplier Receipt
Don’t wait until it’s time to deploy an asset to add it to your inventory. Properly inventory new assets upon receipt from the supplier, as this allows for better tracking and management from the outset. Teqtivity can help automate asset logging and tracking. - FIFO Deployment (First In, First Out)
When deploying assets, use the First In, First Out (FIFO) method. Ensure that items purchased earlier are deployed before newer ones to avoid outdated technology accumulating in your inventory. - Regular Backups and Disaster Recovery Planning
Maintain daily backups of IT asset data and ensure that disaster recovery plans are updated with the latest asset information. Regularly review backup procedures, verify data integrity, and conduct periodic recovery tests to minimize downtime, prevent data loss, and ensure swift restoration in case of emergencies. - Cycle Counts
Set up regular cycle counts to ensure inventory accuracy. This allows for consistent checking and reconciling of your physical inventory against the records in your ITAM system, reducing errors over time. - Daily Termination and New Hire Reviews
Review asset collections from terminations daily to ensure that assets from departing employees are properly accounted for. At the same time, regularly review new hire deployments to ensure the right assets are assigned to incoming employees. - End-of-Life Asset Management
Regularly review devices nearing the end of their lifecycle and arrange pickups from your IT Asset Disposal (ITAD) providers. The longer these assets remain in your inventory, the more their value decreases. Proactive management ensures maximum return and prevents your inventory from being overloaded with obsolete devices. - Review MDM Data for Security
Periodically review Mobile Device Management (MDM) data to check for discrepancies. Ensuring there are no security gaps regarding who is logging into your assets is crucial for protecting sensitive data and maintaining overall security. - Plan for Refresh Schedules
Plan for regular refresh cycles, ensuring that employees receive new computers or equipment as older devices approach the end of their lifecycle. Many companies follow a 3-4 year lifecycle for laptops, after which a refresh ensures staff efficiency and minimizes breakdown risks. - Gather Continuous Feedback
ITAM is a dynamic process, and feedback is essential. Continuously gather input from employees and IT staff to refine practices, improve efficiency, and ensure alignment with business goals. - Training Programs for IT and Non-IT Staff on ITAM Best Practices
Invest in comprehensive training programs for both IT professionals and non-IT staff involved in the ITAM process. These programs should cover best practices, policies, asset tracking, and software management, ensuring that staff understand their roles in maintaining compliance and maximizing IT investment value.
In summary, IT Asset Management is not meant to be a one-time implementation; it is a long-term process that requires consistent practices to maintain an organized, efficient, and compliant IT environment. With the right tools, like Teqtivity, and a commitment to the practices mentioned above, businesses can stay on track for smooth-running operations.