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What is an IT asset and management software? In this article, we delve into a comprehensive overview and explain how to choose the right tool!
Level
Wednesday, August 14, 2024
IT Asset Management Software (ITAM) is extremely useful when your business has a large number of IT assets. It tracks and organizes IT assets effectively and gives you management options in one single software.
In this article, we'll go over how IT asset management software impacts large and small-scale organizational performance.
ITAM refers to tools and programs that allow you to manage and monitor IT assets in your organization, hardware, and software.
Over the decades, companies scaled their IT inventory and data, which pushed the need for better remote monitoring and management tools.
Now, companies can use software like this at a low cost, with better functionality and perfect accuracy in asset tracking and monitoring.
Asset data refers to the comprehensive information collected about an organization's IT assets.
This comprises both hardware and software. It includes details such as the asset's location, usage status, purchase date, warranty information, maintenance history, and depreciation value.
It is important for effective management to make informed decisions. It provides the insights needed about asset utilization, maintenance, and replacement.
ITAM software is a specialized system designed to manage all IT resources within an organization. It stands apart from traditional management tools.
Traditional methods handled physical goods like equipment and inventory. It required people to count manually and jot down records. This was labor-intensive and often led to mistakes.
In contrast, an IT management software helps track assets in an instant. It tells you where the IT items are, who uses them, and when they need a tune-up.
Let’s take a closer look at the main differences between the IT asset management software and traditional asset management:
Asset management solutions, such as Level and Asset Panda, come with key features that help manage the entire lifecycle of all the assets within an entire organization.
Asset tracking software simplifies the task of keeping up-to-date information about the inventory of both hardware and software assets.
This makes sure that the data is accurate and accessible to contribute to better resource allocation.
Efficient license management is a core component of any asset management platform. It helps keep license compliance, track software usage, and manage software licenses.
This is used to prevent both overspending and underutilization.
Management software also addresses the needs of hardware asset management.
It covers key aspects of tangible devices and equipment tracking, from mobile devices to network devices. Hardware assets management also provides a clear picture of the hardware's location and status across an entire organization.
Service management works with the asset management system. This integration includes a service desk that offers technical support.
It manages service requests and maintains recent records of valuable assets.
Risk management is a must in asset management solutions. They routinely check to make sure you stay compliant. This action helps reduce risks associated with software and hardware.
Contract management is equally important. It tracks vendor data, which means that vendors must meet terms and commitments.
These tools offer several functions. They monitor device management across various endpoints and properly manage digital assets, including software and content.
They even operate across multiple platforms, like cloud environments.
ITAM software is part of asset management. It often includes network discovery capabilities. It tracks new assets, keeps updating, and logs changes within the IT infrastructure.
Asset management tools produce detailed reports and analytics. This data helps businesses. It aids in understanding asset utilization.
It promotes cost savings. Also, it helps in making informed decisions about future asset needs.
Selecting the right software is important for organizations aiming to efficiently manage their IT assets. Here’s a closer look at Level, Asset Panda, ServiceNow, and Microsoft System Center, the top contenders in asset management solutions.
Level is robust and easy-to-use IT asset management software. It is designed to enable organizations to manage their IT operations effectively.
It offers a comprehensive set of features that cater to the needs of businesses of all sizes.
This makes it an ideal choice for those looking to monitor and manage IT assets across various environments.
These are the key features Level offers:
Level is a great choice for IT teams and service providers who need a reliable and easy-to-use IT asset management solution.
Its comprehensive features, automation, and security make it suitable for managing IT infrastructure across different platforms.
Asset Panda is a strong and user-friendly asset management platform known for its excellent support and powerful asset-tracking capabilities. It is an excellent choice for organizations of all sizes, from small businesses to large enterprises, thanks to its scalability and ease of use.
Asset Panda’s most notable features are:
Asset Panda is well-suited for organizations that need a user-friendly and flexible asset management solution.
Additionally, larger organizations with complex asset requirements will also find value in its scalability. This comes from its effective asset management and tracking capabilities.
ServiceNow is a scalable asset management platform designed to meet the needs of large enterprises. It is known for its ability to integrate with other IT management tools.
These are the main features of ServiceNow:
ServiceNow is best suited for large enterprises with complex asset management needs. Its integration with ITSM and other IT management tools makes it an ideal choice for organizations looking to unify their IT operations.
Microsoft System Center provides comprehensive capabilities for organizations that rely on Microsoft technologies. It is particularly well-suited for managing software licenses and keeping in compliance with Microsoft’s licensing requirements.
Microsoft System Center’s key features include:
Microsoft System Center is best for organizations that are invested in the Microsoft system.
It is a strong option for organizations that need robust software asset management capabilities, particularly when it comes to managing and auditing your software license
ITAM software not only optimizes cost but also manages risk and ensures compliance. Here’s a breakdown of its benefits:
It aids in cost-cutting. It prevents buying unnecessary items and oversees existing ones. This includes every network device and mobile device within the organization's assets. It studies your asset inventory and tracks equipment use.
As a result, you can plan budgets more efficiently.
New risks emerge daily. An efficient IT asset management tool counters these risks by monitoring all assets. Such a proactive management system keeps data about valuable assets updated.
This makes risk management an important part of your business operations.
Managing software licenses becomes easy with asset management ITAM software. It handles your licenses and monitors your compliance status.
This tool keeps your business on the right side of the law, which prevents penalties. As a result, managing software assets within any organization, be it small or large, becomes hassle-free.
Automated tracking software eliminates manual record-keeping efforts. It efficiently logs every piece of data.
This utility maintains accurate records of assets and requirements across the organization. In turn, this improves the asset management process.
It simplifies audits. It maintains detailed software inventory reports. These records offer a clear snapshot of your compliance status during an audit.
This is what makes software a crucial part of IT management.
The software tracks assets such as hardware and software inventory. It monitors all other types of assets, whether mobile devices in employees' hands or stationary cloud assets.
This feature prevents resource shortages or excess to keep a balanced inventory.
Choosing the best ITAM software requires careful thought. Here's a step-by-step guide to simplify the process for your business.
If your operational scale is small, look for software that is simple yet efficient. For large businesses, you need a more sophisticated system capable of handling extensive data.
Consider what you plan to manage. Are they physical items like computers and phones? Choose software with robust physical asset tracking features. However, if you primarily work with cloud environments, your software should specialize in digital assets.
Jot down what tasks you want the software to perform. These might include maintaining records, tracking item locations, or overseeing repairs and maintenance.
Think about how much you can spend. Some software offers more features but comes with a higher price tag. Alternately, budget-friendly options might have fewer features.
Does the software management tool have the capacity to grow with your business? Prioritize those that can accommodate an increasing number of asset types of assets as your company expands.
Refer to reviews and learn what other businesses have to say. They share first-hand experiences, both good and bad, which can be invaluable in your decision-making process.
Many companies provide a trial version of their software. A hands-on experience can help you decide if the software aligns with your business requirements.
Investigate the user-friendliness of the ITAM software integration. Understand if you need a training program, how long integration will take, etc.
Implementing best practices in IT asset management makes your organization get the most out of its management software. Here are some key best practices to consider:
Conducting regular audits and reviews of your asset inventory is a must for maintaining accurate data.
Schedule regular audits to verify the existence and status of all IT assets. This helps identify any discrepancies in your data and makes sure that all assets are accounted for.
You also have to regularly review your licenses to keep its compliance with licensing agreements. This can help avoid costly penalties.
Keep your asset management platform up to date by regularly updating asset information. This includes adding new assets, updating the status of existing assets, and retiring assets that are no longer in use.
Automation is a key component of digital transformation and modern asset management. By automating routine tasks, organizations can reduce costs and improve efficiency:
You can use the automated tools to discover and track new assets as they are added to the network. This reduces the reliance on manual processes and keeps your asset inventory always up to date.
It also automates the scheduling of routine maintenance tasks, such as software updates and hardware checks.
Make sure to use automation to monitor compliance with software licensing agreements and regulatory requirements. Automated alerts can notify you of any compliance issues so you can address them quickly.
It is important to ensure that all stakeholders understand the importance of IT asset management and how to use the software effectively. You would have had to offer training sessions for all software users, including IT staff, finance teams, and any other departments involved in managing IT assets.
You can also use the asset management tool to collaborate with different teams. For example, IT and finance teams can work together to track asset depreciation and plan for future investments.
Develop a knowledge base that includes documentation, tutorials, and best practices for using the management software. This can be a valuable resource for new employees and can help keep consistent practices across the organization.
Add sustainability to your IT asset management practices. This can help reduce environmental impact and unnecessary costs and align you with corporate social responsibility goals.
You can try to focus on extending the asset lifecycle of your IT data through regular maintenance and upgrades. This will reduce costs and also minimize the environmental impact of purchasing new hardware.
Level is transforming the way Managed Service Providers handle their remote monitoring and management tasks. With an emphasis on simplicity, proficiency, and security, Level saves your team countless hours through its streamlined, powerful features.
Take advantage of modernized remote access, enhanced automation, and a suite of tools that will elevate your service capabilities. Whether you're looking to improve efficiency, reduce risk, strengthen security, or expand your service offerings, Level provides the technology to make it happen.
Book a demo or try Level free for 14 days right now!
ITAM software is a unified platform that helps businesses to track hardware and software assets. It provides an accurate inventory and manages licenses.
ITAM software enables organizations to track their assets efficiently, regardless of whether they are small businesses or corporate operations. It plays a key role in compliance in software licensing. It also helps reduce risks associated with IT infrastructure.
Consider several factors when choosing the ideal software to manage assets. Firstly, look for an intuitive interface that is easy to use.
Make sure the software is compatible with your existing IT environment. It's important that the software meets your specific asset tracking and management needs.
Lastly, select software that is versatile enough to serve both small businesses and large enterprises.
At Level, we understand the modern challenges faced by IT professionals. That's why we've crafted a robust, browser-based Remote Monitoring and Management (RMM) platform that's as flexible as it is secure. Whether your team operates on Windows, Mac, or Linux, Level equips you with the tools to manage, monitor, and control your company's devices seamlessly from anywhere.
Ready to revolutionize how your IT team works? Experience the power of managing a thousand devices as effortlessly as one. Start with Level today—sign up for a free trial or book a demo to see Level in action.
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