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An undeniable fact about any component of the IT environment is that it has a limited life cycle. Hardware breaks down. Software becomes obsolete. And systems lose their effectiveness.

The management of IT assets requires well-developed processes and clear policies. IT asset management software may track physical devices, software instances and licensesand even the cabinets that house them. Managers should be able to look up warranty and vendor information and understand how each asset contributes to the environment. Change control procedures are effective ways to manage upgrades and replacements.

From procurement to operations to disposal, each asset comes with a cost. The decision to remove, replace or upgrade an IT asset must be done with a full understanding of any financial impact to the business.[

IT Hardware:

  • Physical Media: Typically containing digital assets including backups
  • Physical IT Equipment: Servers, end-user devices, communications equipment, etc.,
  • Licenses: Including proof of license documentation
  • Contracts: Including documentation; may be both physical and digital
  • Services: Combinations of IT assets and non-IT assets, typically externally supplied, treated as IT assets, e.g., Software as a Services, hardware maintenance, training etc.,
Analytics Vis Hub

Software Assets:

  • Executable Software: Source Code
  • Non-Executable Software: Fonts, configuration info, dictionaries etc., used by executable software
  • Virtual Equipment: Firmware, virtual machines, embedded software

IT asset management (ITAM) is the process of cataloging, tracking and maintaining an organization’s technology assets. It combines the ability to track and analyze the financial and contractual pieces against actual inventory to drive service success with a better understanding of how IT assets support the business and users. As an integral solution to the success of an organization, assets can include tangible, physical assets like hardware and servers, or intangible assets like software, purchase orders and contracts.

IT asset management gives you the framework to document and manage the lifecycle of each IT asset from when it's first used to retirement of the asset and the moves in between. This can be daunting, time-consuming and overwhelming when assessing incidents or performing root-cause analysis. WMK will help you to easily align your hardware and software inventory, asset owners and assignments and location information in one place.