Remember when tracking company computers was as simple as peeking under desks? Yes, those were the good times.
But the world of work has changed, hasn’t it? We’ve gone from offices to couches, from cubicles to coffee shops. The new era of remote and hybrid work is awesome for flexibility, but it’s thrown a wrench into how we manage all those laptops, software licenses, and cloud subscriptions.
“Companies are wasting a huge chunk of their software budget—between 20% and 31%”
In situations like these, ITAM shines.
Seems like the IT department just dreamed up this new acronym, but it actually helps entire companies and even the planet.
And the numbers don’t lie. According to Flexera, many businesses are just starting to realize the importance of software asset management (SAM), a key part of ITAM. They also found that companies are wasting a huge chunk of their software budget—between 20% and 31%—simply because they don’t have a good handle on their IT assets.
What is ITAM? (Hint: It’s Not Just a Fancy Acronym)
ITAM stands for IT asset management. In simple terms, it’s about knowing what IT stuff you have, where it is, who’s using it, and how much it costs. It includes everything from your trusty laptop and related IT equipment to the software you use every day and all those cloud services your company relies on.
With everyone working from everywhere, IT asset management is more important than ever. It’s like having a super-organized inventory system for all things tech, making sure the right tools are in the right hands at the right time.
How ITAM Software Benefits You Both Locally and Globally
Okay, so we’ve established that ITAM software is pretty important for keeping track of your company’s tech in this new world of remote and hybrid work. But how exactly does it benefit you? Let’s break it down, from your individual experience to the big-picture impact.
Happy Employees, Happy Life
- No more tech frustrations: ITAM software helps IT support teams quickly troubleshoot problems and get you back to work faster. Need a new software license? No problem! ITAM makes it a breeze.
- The right tools for the job: With ITAM software, you get the right IT hardware and software to do your job effectively, wherever you are.
- Security? Sorted: ITAM helps keep your devices and data secure with up-to-date software and security protocols.
Departmental Dream Team
- Marketing magic: Marketing teams can use ITAM software to track software licenses for design tools, manage subscriptions to marketing automation platforms, and ensure everyone has access to the latest campaign assets.
- Finance whizzes: Finance departments can use ITAM to track IT hardware assets for depreciation, manage software licenses for accounting software, and ensure compliance with financial regulations.
- HR heroes: Some of the latest ITAM software come with remote onboarding capabilities.HR teams can use ITAM software to manage employee onboarding and offboarding, track software licenses for HR systems, and ensure compliance with data privacy laws.
The Big Picture: A Win for Everyone
- Cost savings: The key here is that you get to better track (you can even automate this) software licenses and the lifespan of all hardware assets, which leads to better, secured infrastructure that lets you avoid penalties for non-compliance.
- Improved security: Since ITAM keeps you on top of everything, you can easily spot and manage vulnerabilities in security.
- Better decision-making: With accurate data on IT assets, organizations can make informed decisions about IT procurement and resource allocation.
Saving the Planet, One Laptop at a Time
- Reduced e-waste: As you track your assets, you can also implement better asset lifecycle management. That means you can plan way better when it comes to the responsible disposal of old equipment.
- Sustainable practices: With asset management, you can also track your IT infrastructure’s energy consumption.
Fun fact! Did you know that many companies track their carbon emissions in different ways? Some focus on what they produce directly (Scope 1), some on the energy they buy (Scope 2), and others on the emissions from their entire supply chain (Scope 3). Who knew IT could be so eco-conscious?
Planning Your ITAM Strategy: No Crystal Ball Required
Yes, an ITAM software strategy doesn’t have to be that hard. Here’s a simple roadmap you can follow to make your approach easier:
Step 1: Take Stock
Your first step is to have a complete inventory of your tech stack. It should include all your IT hardware, software, and cloud services.
Step 2: Pick Your Tools
Choose the right ITAM software that fits your organization’s size, needs, and budget.
Step 3: The People Factor
Clearly define roles and responsibilities for managing your ITAM system. Who’s in charge of what?
Step 4: Review and Refine
Do this and make it regular. The more you monitor and improve your IT asset management strategy, the better you can align it with evolving business goals and needs.
Wrapping Up: Think It’s a Bit Overwhelming?
As we’ve seen, IT asset management is essential for any organization with remote or hybrid teams. It keeps employees happy and productive, streamlines workflows, and helps organizations save money, improve security, and make better decisions. Above all else, you can help in the global efforts to mitigate climate change.
It’s perfectly fine if you’re overwhelmed by these things and are thinking of outsourcing your ITAM.
In fact, a study from Deloitte found that more and more companies turn to external support, which frees up their internal team’s time for more normal operations and more strategic work. Want ITAM software that lets you implement strategies that can transform your organization? Contact us at Dots to learn more or book a demo today.