IT asset management

Your systems are the bedrock of your operations, so keeping them running smoothly is critical. Information technology asset management (ITAM) is the process of implementing, maintaining, monitoring, and tracking your information technology assets to optimize performance and maximize the value of investments while maintaining compliance.

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Man on a laptop computer

What is IT asset management?

The average business uses 110 SaaS applications, and that number is steadily increasing. In addition, an environment can quickly become a tangled web of laptops, desktops, network devices, and other hardware. Juggling licenses, installations, and updates require a powerful solution. IT asset management offers many potential benefits to your business, including reduced costs, improved efficiency, and greater visibility into your environment. 

IT asset management (ITAM) is a system of tracking hardware and software technology asset data to enhance the value to the organization. By leveraging inventory, financial, and contractual information, ITAM supports effective decision-making and lifecycle management.  

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Must-have IT asset management features

An IT asset management solution can simplify inventorying, updating, and tracking hardware and software. The right features are critical to your ITAM success.

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Scan computers

Perform asset discovery to gather data on your device fleet.

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Prepare documentation on devices, software, deployments, and more.

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Uninstall apps

Remove unwanted apps from machines to simplify software asset management.

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Synchronize with Active Directory

Automatically add new computers to your asset inventory by syncing with Active Directory.

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Keep up-to-the-minute records

Maintain a current, detailed inventory of the software and hardware assets in your environment.

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Receive technical support

Get assistance from trained professionals to help you get the most out of your IT asset management solution.

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Write your own PowerShell script

Bring in data with custom PowerShell scripts.

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Automatically run reports on a regular cadence to monitor assets over time.

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Build collections

Use prebuilt packages or organize machines into custom collections to monitor assets at a glance.

What are the benefits of IT asset management?

Skillful IT asset management offers many potential benefits to your business. Control and visibility are the main selling points for ITAM, but these factors support several other advantages. Effective ITAM can enhance performance, budgeting, and business insight. With oversight of the full IT asset lifecycle, you can also proactively manage risks, costs, and efficiency. Thanks to its far-reaching effects, ITAM provides value for end users, IT leaders, and the business as a whole. 

  • Simplify asset tracking 

  • Schedule preventive maintenance to avoid downtime 

  • Improve patch management  

  • Provide real-time visibility  

  • Enhance cybersecurity and reduce security risks

  • Support compliance efforts 

  • Promote informed decision-making 

  • Eliminate unnecessary assets 

  • Reduce costs 

  • Add more context for IT service management, help desk, and service desk support

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PDQ vs. leading competitors

PDQ's software inventory management solution

Leading competitors

Scalable per-admin pricing 

yes

no

Highly customizable features 

yes

no

Integrated patch & inventory management 

yes

no

PowerShell Scanner

yes

no

Easy setup and use

yes

no

Comprehensive knowledge base

yes

no

Support from sysadmins

yes

no

How do you incorporate IT asset management?

Implementing an IT asset management process takes time and consideration. Ideally, you should account for your business needs, goals, and existing systems to find a seamless fit. The following steps can help you develop an IT asset management system that works for your company:

  • Designate an IT asset manager and asset management team

  • Determine critical physical assets and software assets 

  • Create an asset inventory

  • Monitor asset lifecycles

  • Track each software license 

  • Make the process proactive and ongoing

  • Follow a lifecycle-based approach that includes planning, procurement, deployment, maintenance, and retirement

While incorporating a high-quality IT asset management program takes some time upfront, it can ultimately save you effort, money, and long hours toiling over spreadsheets.

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What are IT asset management best practices? 

Applying IT asset management best practices can help you optimize your ITAM program. Keys to effective IT asset management include these steps:  

  • Do routine asset discovery and inventory tracking

  • Collect financial data 

  • Implement asset inventory management of each existing asset, including tangible assets and intangible assets

  • Distribute data to relevant stakeholders

  • Document contractual data 

  • Maintain license information

  • Conduct regular audits 

  • Solicit feedback on the process 

IT asset management directly relates to IT service management (ITSM), IT operations management(ITOM), IT business management (ITBM), and software asset management (SAM). To get the most out of your ITAM program, make sure it is part of a larger information technology management landscape.

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How do you choose the right IT asset management solution?  

Choosing the right IT asset management tool requires understanding your goals and envisioning how a software aligns with them. Knowing your assets and processes is critical, potentially making it easier to find a solution that can grow with your business. Here’s what to do before selecting an ITAM tool:

  • Assess your purpose 

  • Compile an asset inventory 

  • Look for automated features 

  • Consider features that enable collaboration 

  • Set your budget 

  • Assess the solution’s customer service and support 

  • Read customer stories and reviews 

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