When cybersecurity analysts refer to IT Asset Inventory Management, they usually discuss the tools and methodologies they need to keep a complete and updated log of hardware and software within an organization. Normally, this means every software license, online/offline device, as well as IoT, ICS, and so on, together with risk profiles for each of them.

According to the International Association of Information Technology Asset Managers (IAITAM) IT asset management is defined as:

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.

If you’re interested in learning more about the benefits of software and IT management, make sure you check out the articles written by my colleagues. I recommend:

…as well as my previous analysis of SAM benefits, ITAM lifecycle, and the best Software Management tools.

Main Advantages of an IT Asset Inventory Management System

According to IAITAM, IT Asset Inventory Management is an investment into an organization’s short, medium, and long-term needs and goals.

Since there are numerous asset inventory management software on the market, you should take your time and make sure that the one you choose, will have all the features your business needs.

#1. Maintenance scheduling component

You should choose an ITAM software that will facilitate planning and arranging standard and emergency equipment fixes as well as your IT asset inventory to make sure that any potential issues will interfere with business operations as little as possible.

#2. Good reporting functionality

This will make it easier for you to analyze various aspects of your asset inventory, from depreciation rates and the value of your assets to tracking and performance comparing.

#3. Easy configuration

Having a system that is easily configurable and customizable will allow you to adjust workflows, documents, and forms to better suit the particularities of your organization’s processes and policies.

#4. Mobile compatibility

Having a mobile-compatible and cloud-based system will provide your teams with maximum flexibility and user-friendliness.

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Why Use IT Asset Inventory Management Software

An updated IT asset inventory management system is crucial and challenging in every organization’s cybersecurity program. Company assets are constantly changing, devices are added and retired, physical machines are moving to the cloud, and, ultimately, multiple stakeholders are always installing and updating software, with or without proper authorization. Not having an accurate IT Asset Inventory Management system will make managing compliance and cyber-risks difficult, if not impossible, to achieve.

So, what are the main benefits of an IT Asset Inventory Management system?

First, it has the capacity of storing all documents relating to each asset (contract, receipts, user manuals, etc.) in one place, and keeping them together. This way, you can easily improve organization and effectiveness in your asset inventory process.

Second, ITAM users will also benefit from scheduling maintenance automatically, and performing remote updates and scans to IT asset inventory like laptops or tablets. This phase can save your IT department valuable time and resources.

Finally, you will appreciate ITAM’s capability to reduce deficiency through theft of valuable assets via physical evaluation and fixed assets tagging. Yes, you read that right. An asset inventory management software can generate the most precise asset inventory possible that can be compared to physical assets. Inconsistencies are quickly identified and resolved much more timely manner compared to manual methods.

Wrapping It Up…

Asset Inventory Management software comes in all shapes and sizes, from quick and accessible integrations, to elaborate, high-priced solutions that are able to discover all IP-based hardware on the network automatically, sign the big pile of documents on your desk and more. Whether you choose a lightweight tool or an enterprise-level system, the first and most important thing to take into consideration is getting the option that will work best for your needs.

Our Heimdal™ Patch & Asset Management solution will allow you to deploy software, close vulnerabilities, achieve compliance, and see all software assets, thus mitigating breaches, data leaks, environment compromise, exploits, and compliance fines.

What is an IT Asset Management Tool?

Software Asset Management (SAM) Revisited – ITAM vs SAM and the Real Cost of High-Velocity Upscaling

What is an IT Asset Management System?

What is an IT Asset Inventory?

IT Asset Management Best Practices: An Overview

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