IT equipment is the backbone that powers an organization. It’s also one of the most significant
investments a business will make. That’s why an effective IT asset management system (or
ITAM) is critical for ensuring that the growing number of hardware, software and mobile devices
that run your business every day are properly managed.

Yet, even today, many small to medium sized businesses do not use an IT management system.
This results in increased risk, wasted spending, and reduced ROI. We take a deeper dive into 3
reasons every business needs an effective IT asset management system:

1. Managing Risk

When considering the number of assets, including computers, cell phones, servers, and mobile
devices, plus the amount of sensitive data contained on each, it is easy to see the importance for
ensuring all equipment is managed properly. But you cannot protect what you do not actively

ITAM is designed to be a centralized way of tracking all the information surrounding your IT
assets. With this information, you can easily understand the risk profile associated with your

This tracking process is hugely important for managing data security – where data is stored, who
has access to it, and how it will be properly disposed of.

ITAM further mitigates risk by helping companies remain on top of their software updates,
subscriptions and licenses, which can reduce vulnerabilities and the risk of malware or other
cyber attacks.

2. Staying Compliant

ITAM, particularly with a Software Asset Management (SAM) subset that includes software
inventory, audits, documentation, and redeployment, is one of the best ways to ensure your
business is compliant with license agreements.

Depending on the vendor, you may have certain rights for using software that are unique to your
company. Not knowing or complying with your license agreement could mean serious fines and
legal consequences.

Furthermore, with ITAM, auditing should happen continually. This proactive approach can help
ensure your organization is always “audit-ready” and that you will have a simpler, process with a
favorable outcome.

3. Saving Money

Often times, the reason companies don’t have ITAM in place is because of a lack of budget or
resources, However, one of the main reasons for implementing ITAM is to save money and help
them get the most out of each asset.

One of the advantages to an effective IT management system is the ability to better cost-control.
Accurate tracking of purchases, users, contracts, upgrades and disposal data, helps the company
make strategic decisions such as:

  • When and where to invest in new technology
  • What equipment is worth fixing or repurposing
  •  What should be retired.

It also helps the organization reduce spending by avoiding unnecessary purchases of equipment
or software licenses.

Getting the Most Out of Your IT Investment

IT, asset, and facility managers are increasingly under pressure to effectively budget for IT
investments, save the company money, and improve complex efficiencies. A clear line of sight
can help you get the most value out of one your greatest assets.