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Asset management is the set of business practices that join financial, contractual
and inventory functions to support life cycle management and strategic decision
making for the IT environment. It is a process of tracking information about technology
assets throughout the entire asset life cycle from initial procurement to retirement.
Assets include all elements of software and hardware that are found in the business
environment.
Software Asset management
Software Asset Management applies to the business practices specific to software
management, including software license management, configuration management , standardization
of images and compliance to regulatory and legal restrictions—such as copyright
law, Sarbanes Oxley and software publisher contractual compliance.
Software is referred to as entitlements so that SAM programs confirm the right to
use or entitlement to that software by the user. Automation is used to facilitate
this management.
Hardware asset management
Hardware asset management entails the management of the physical components of computers
and computer networks, from acquisition through disposal. Common business practices
include request and approval process, procurement management, life cycle management,
redeployment and disposal management. A key component is capturing the financial
information about the hardware life cycle which aids the organization in making
business decisions based on meaningful and measurable financial objectives.
Role of IT asset management in an organization
The IT Asset Management function is the primary point of accountability for the
life-cycle management of information technology assets throughout the organization.
Included in this responsibility are development and maintenance of policies, standards,
processes, systems and measurements that enable the organization to manage the IT
Asset Portfolio with respect to risk, cost, control and IT Governance, compliance
and business performance objectives as established by the business.
IT Asset Management is an integrated software solution that works with all departments
that are involved in the procurement, deployment, management and expense reporting
of IT assets.
Benefits
• Uncover savings through process improvement and support for strategic decision
making
• Gain control of the inventory
• Increase accountability to ensure compliance
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