IT Asset Management is a set of business practices that incorporates IT assets across the business units within the organization. It joins the financial, inventory, contractual and risk management responsibilities to manage the overall life cycle of these assets including tactical and strategic decision making.

IT Asset Management is an investment that provides substantial and measurable benefits for short, medium, and long-term needs and goals. Trained IT Asset Management professionals have the ability to introduce best practices that deliver real value to the organization, whether facing a software audit or preparing for a merger. Organizations that implement a managed, repeatable and measurable approach to ITAM will ultimately reap the greatest rewards in the shortest timeframe.

Key Process Areas as Defined by IAITAM

There are twelve Key Process Areas (“KPAs”) identified within the IAITAM Best Practice Library (IBPL), the ITAM Practitioner’s Guide to an IT Asset Management Program. When combined, these KPAs empower an organization and maximize the value of its IT assets.

The Program Process is the centralized area for managing the information throughout all phases of the IT Asset Management program. ITAM must be developed and maintained as an on-going, centralized program without an end, thus ensuring that all relevant activities are integrated, processes are established, strategies, mission statements, objectives, measurements and prioritizations occur in a coordinated fashion.
Policy Management is a critical success factor for any IT asset management program. Policies need to be clearly defined, understandable and enforced. As a best practice, IAITAM has identified more than thirty policy areas that relate directly to IT asset management and must be defined for any organization. Once defined, the policies must be accessible and presented in a way that employees can readily understand what is required and why it is beneficial for the organization.
Communication & Education Managementwill require many people directly supporting the program and the entire organization when it comes to awareness and understanding of policy. Proactive change management requires planning and communicating for change, followed by the necessary training to ensure that the adoption of these new policies are successful and that employees truly understand how to use the new processes. Departments within the organization in the past have been able to operate rather autonomously, each dependent on the other for the success of the overall business strategy but not dependent on one another for the function of the individual department. Information Technology has changed this business model forever. The good news is that this is possible with a strategic plan for communication and education.
Project Management can be defined as an organized and managed set of activities that results in the achievement of a unique and well-defined end-result or work product or deliverable. Resources are mobilized and deployed to perform the activities in a controlled fashion. A project, implicitly and by definition, has a start and an end. Therefore, a project differs from recurring operational activities that may be performed many times repeatedly in a typical corporate environment. The Project Management process area defines those characteristics of a project team that are essential to successfully conducting the initiatives that are needed to meet the goals of the ITAM.
Document Management encompasses management capability for all IT asset-related documents throughout most of their life-cycle, from request and acquisition onward. This discipline includes management of contracts, proof of purchases, and all software licenses including certificates of authenticity (“COAs”).
Financial Management is a key part of not only your asset management program but affects departments across your corporate enterprise. Financial IT Asset Management is the backbone to savings within your IT Asset Management program from budgeting to invoice reconciliation. Financial IT Asset Management includes many operationally recurring functions: budgeting, fixed asset reconciliation, chargeback, invoice reconciliation, forecasting, financial audit preparation, and billing. In addition to these, the Financial IT Asset Management discipline must support a strategic view of IT spending.
Compliance and Legislation Management is the focal point for risk avoidance and audit response. As part of this PA, the organization prepares to respond, responds to compliance events, performs periodic internal asset discoveries and ultimately settles non-compliance matters.
Compliance and Legislation Management is the focal point for risk avoidance and audit response. As part of this PA, the organization prepares to respond, responds to compliance events, performs periodic internal asset discoveries and ultimately settles non-compliance matters.
Vendor Management defines attributes of maturity in how well you are communicating with, leveraging and negotiating with your vendors. Structural strategies for success include assigning vendor managers internally, following a documented communication protocol and building a library of interactions. Business strategies for lease-versus-buy, outsource-versus-retain, and global consolidation are encompassed in these processes.
Acquisition Managementis the gatekeeper for the application of all IT asset management strategies determined by your organization, including policies, standards and life-cycle processes. Effective IT acquisition process empowers the rest of your IT asset program by applying process, determining pathways for exceptions and generating the initial records for the IT assets before acquisition is even complete.
Asset Identification encompasses the activities that uniquely identify and validate the physical presence of IT assets. It is a key enabler of many related activities in the Software Life-cycle, Hardware Life-cycle, IT Acquisition and Documentation Management Process Areas. Unique physical identification tags on the outside of the IT asset associate that label with a particular IT asset, which may not have meaning outside of the organization.
Disposal Management is the procedure for properly removing assets from your environment. A mature disposal process will allow your enterprise to avoid costly storage of unused assets, mitigate risk associated with disposal, reallocation of software, security of information maintained before the disposal process, while increasing return on investment.