Doing business today is competitive and incessant, so it’s not unusual for companies to invest heavily in the best and latest technology and software. It’s easy to compare your own standing in the market to that of others and dive headfirst, investing in all sorts of assets and licenses that you feel will be “worth it long term.”
The issue is that problems occur when you quickly realize these investments aren’t paying off, and instead end up being underused and unused resources that simply drain your finances. 43% of respondents in a strategy& survey admitted that maximum returns on investment for technology weren’t achieved for their business.
Implementing IT asset management (ITAM) software can seem like an easy fix, but it’s where ITAM responsibility is placed within your organization that makes the biggest difference in its potential. So, where’s the right placement? It is within your IT procurement department, the wider IT function, or somewhere else altogether?
What’s the Role of Procurement?
Procurement involves sourcing and buying all the things a company needs to run. Whether it’s staples or more complicated cybersecurity software, a procurement team has the responsibility of choosing the ideal source to buy from and at the right price. While this might just sound like bargaining for materials, there’s a higher purpose, which is making sure every purchase makes sense in the context of company objectives.
A company that has just transitioned into a hybrid model might have its priorities set on remote collaboration, so the procurement teams’ eyes need to be on subscriptions to communication software like Microsoft Teams or similar.
What Is IT Asset Management?
Especially for larger organizations, IT procurement isn’t an easy feat, even if you’ve got a dedicated team to handle those activities. That’s because there are so many aspects of businesses that rely on technology – software that project management duties are conducted on and hardware that employees use to access company information. Daily operations would effectively go under without all these puzzle pieces in place. Juggling renewals and new purchases, making the hard decision to stop using certain platforms, and making sure nothing slips through the cracks at the same time – any organization would effectively walk on eggshells without a proper system.
And that system is an IT asset management software, a way to get a full view into all your assets and where they are physically or in their lifecycle. The very point of ITAM is to avoid the headaches associated with unaccounted tech assets and unused licenses so you can keep your hard-earned money, stay compliant, and make more intelligent decisions.
It’s so important that there’s an organization dedicated to it – the International Association of IT Asset Managers (IAITAM). The body is the most reputable resource for all things ITAM and they develop the guidelines and best practices that enterprises need to improve their asset use. IAITAM also offers certification programs that cover all sorts of specific asset usage, which is a great way for professionals to enrich their expertise.
The Relationship Between ITAM and Procurement
Even if this is your first time formally exploring IT procurement and ITAM, there’s not a more obvious connection between the two of them. The entire process of IT purchasing starts with procurement, but once those activities are complete, it’s up to ITAM software to oversee, handle, and, just as importantly, optimize them through asset lifecycle management. The potential of an asset shouldn’t be left to deteriorate into obsolescence as time goes on – it should be managed strategically, and decisions should be made about it whenever possible.
Procurement inherently has a lot more meaning and intention when ITAM is around. There’s accountability involved that goes beyond just counting the number of assets you have and gives the items procured long-term meaning and value. They go hand-in-hand in creating a cycle where investments truly deliver. At this point, you know you want to implement a better ITAM-procurement system, but where exactly to integrate it is the next question.
For organizations who are having the most trouble with the procurement process and figuring out how to make the most of their budget, ITAM serves best within the IT procurement department. That way, there’s a tighter-knit partnership between those involved in the actual purchasing decisions. If the focus is more on operations, putting ITAM at home within the broader IT function might be a better choice. With this setup, you hone in more on the holistic IT ecosystem and whether your assets are used optimally.
Find your ITAM doesn’t fit into either of these and is a bit of an outcast? ITAM can also function independently for a more unbiased and uninfluenced structure, which is especially useful for large organizations where assets can run amok.
How the Dots Platform Deals With Your ITAM and Procurement in One Place
With such a symbiotic relationship, procurement and ITAM need to be unified at all times to function at their peak. Dots is an end-to-end cloud-based IT asset management software solution that integrates the two into one single system, bringing both functions together for a streamlined experience.Coordination is the name of the game here, with real-time visibility, onboarding and offboarding with global coverage, and integrations with HR and ERP systems. Dots is the most powerful ITAM software in the market that comes with a world-class logistics network, ideal for remote and in-office teams. Book a free demo of Dots today!
