What is IT asset management software?

Inside a company, you have to deal with many kinds of assets that require proper management systems and tools. Usually, some businesses invest up to 4 to 5 days storing this information manually every month. Since this process is time-consuming and less efficient, ITAM software has become crucial to run informatics operations and resources.

IT asset management software definition

According to a few sources, IT asset management software represents a group of practices within an organization. It is a solution that manages the overall lifecycle of IT resources by overseeing costs, risks, governance, and compliance. Consequently, you can categorize, monitor, and track physical and digital assets across different departments.

Thus, ITAM tools enable you to gather vital information about software and hardware inventory to review its relevance. By controlling these resources, you use them effectively and can recycle assets instead of buying new products. Moreover, this solution lowers the costs risks of undiscovered obsolete infrastructure that could be intended for new projects.

Types of IT asset management

There are four main categories among IT assets: software, hardware, mobile devices, and the cloud. Besides, there are five types:

Physical. The stock and discovery of copiers, laptops, scanners, PCs, and other devices intended for data or IT handling.

Digital. The tracking of images, hard copies (scanned), videos, and other electronic information.

Software. This part of the ITAM should be carefully administered because it tends to create many complications. Indeed, software areas include compliance issues, licensing requirements, IoT, and ShadowIT which need constant adaptation to business demands.

Mobile. Another difficult task due to security implementation upon the use of various devices. Mobiles tend to be more vulnerable to ShadowIT if polices don’t ensure better practices among the staff.

Cloud. ITAM software on the cloud entails several advantages for your business. Explicitly, you can aspire to a secure operation, have more accessibility, and get rid of licensing issues and servers, saving money.

Benefits of ITAM software

As you prepare to integrate an IT asset management like Koho, be wary of its pros:

• Maintain business assets in real-time
• Maximize the use and value of IT resources
• Audit process becomes (human) error-free and simpler
• Track supplier and vendor performance with precise KPIs 
• Have better capability to record assets promptly and accurately
• Set up informed decision making with the help of cost transparency