Why businesses need ITAM?

Information Technology Asset Management (ITAM) is a set of business practices and tools for optimally supporting lifecycle management of IT assets and strategic planning for the IT environment. 

A mouthful but the message is clear. To effectively manage your assets and secure your business growth, investment into ITAM is fast becoming an IT-must for any industry.

Even though ITAM has been around for decades, it is often seen as a tedious necessity with companies overlooking the financial gain of the software.

However, analyst firms Markets and Markets, Research and Markets, and ReportLinker estimate that software asset management is expected to grow into a $2.3 billion industry by 2022, at a compound annual growth rate of 14.8% suggesting that it might not be obsolete as we may think.

ITAM offers IT departments the capabilities to manage IT assets in a much more comprehensive fashion than traditional asset management. With ServiceNow, businesses can expect a cost reduction in IT as well seeing overall quality improvement across the workplace.

By default, ServiceNowdivides assets into 3 classes – hardware, consumables and software licenses, – giving IT asset managers the following insights:

  • General asset characteristics
  • Asset location
  • Associated responsibilities
  • Financial data
  • Disposal
  • Contractual data
  • Associated entitlements
  • Related activities

Designed to work alongside your current ITSM and CSM processes, ITAM gives you the opportunity to drive your IT to new levels of financial efficiency.  When will you migrate?

If you would like to find out how ServiceNow can transform your asset management capabilities, then get in touch with Unifii and together let’s transform your way of working.

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