IT Asset Management avoids waste in your company

What is IT Asset Management (ITAM)?

IT Asset Management, or “Software Asset Management” is a big part of an organization's IT strategy. The process involves using a company's software, managing and optimizing spend, deployment, software licenses, license compliance, application usage and disposal across all software business functions.

Software Asset Management (SAM) is a subset of the broader practice of IT asset management. (ITAM), which ensures that all IT assets are managed and maintained.

SAM is particularly important for large organizations because it primarily deals with the redistribution of software licensing. SAM helps manage the legal risks associated with software ownership and expiration. This is especially important if you use SaaS software .

Why implement Software Asset Management (SAM) in your enterprise?

With software playing such a central role in the daily functions and growth of any modern organization, SAM has many benefits to help companies achieve strategic goals and keep their software running smoothly, including:

Reduce costs

Software asset management aims to reduce costs by negotiating or renegotiating contracts and eliminating or reallocating underutilized software licenses. SAM benefits companies by documenting, reducing and managing the various costs associated with software applications. This ensures that all software is being used as intended.

ensure compliance

Without good control of licensing agreements, legal issues or security risks can occur. SAM enforces compliance through corporate security policies, renewal date monitoring, updated hardware standards, etc. Software companies want to manage how much of their product is being used and by whom, so SAM keeps the business in compliance with the specifics of the service.

Improve employee productivity

By ensuring that software and licensing services continue to be managed through automated SAM tools, contributors will know exactly how to use the program and for what. This ensures that they spend less time dealing with potential issues that could arise somewhere in the future. SAM also helps companies track which employees are using which software and how much, so they can get an idea of where to add or remove features.

Increase IT efficiency

The same goes for IT efficiency. Both SAM and ITAM allow companies to increase the use they receive of hardware and software. IT Asset Management does this by limiting the overhead associated with managing and supporting all IT processes. In software asset management, this means simplifying and automating regular processes to make them much more efficient.

Establish supplier lifecycle policies

SAM can help establish ongoing policies around the software and software vendor lifecycles, which helps establish the long-term benefits of asset management. This includes documenting, deploying, using, and retiring certain software over time as the business grows.

How does Software Asset Management (SAM) help to avoid waste in your company?

A good policy and constant monitoring of the management of IT assets allows you to understand everything that goes on within your operation, for better governance, in addition to favoring an improvement in the performance of assets, and consequently in the productivity of the teams. Follow the main points below.  

Avoid waste in asset management

Asset management keeps information up to date so teams can eliminate waste and improve utilization. Saves money by helping to avoid unnecessary purchases and reducing licensing and support costs.

Avoid overlapping unused software and systems

With SAM, your company can rely on information on how best to handle assets without breaking the bank. Issues such as overlapping software and obsolete systems can be more easily identified when complete and up-to-date coordination is available. This is an effective way for companies to ensure safe operations and save maintenance and additional costs through software.

Avoid waste from exposure to unnecessary risks

Without knowing what risks these processes pose, it is impossible to determine how to deal with them, which makes establishing good governance difficult. In this sense, having a SAM is a great benefit, as it can identify risks involving failures, licensing, etc.

Avoid waste in software maintenance

Checklists are part of a process that corresponds to an organization. With it, you can protect yourself from future licensing issues. In addition to knowing which assets require the most attention in terms of maintenance, you need to organize the assets owned by the company. Without evaluating the entire set of resources, considering software, hardware and other aspects, the IT structure cannot keep up with the strategic needs of the corporation.

Avoid waste due to lack of planning

Good IT asset management depends on activity planning. From there, it will be possible to guide the team to the correct procedure, taking into account deadlines, quality and follow-up. Before starting any activity, divide it into phases so that they happen according to the needs and possibilities of the company.

Implementing software asset management

When planning and implementing a software asset management strategy, SAM best practices explained in detail will form a framework for dealing with the seemingly daunting task. SAM tools will help management assess their software environment, implement new software solutions when needed, and manage the various licenses associated with purchasing software. Here's how to implement software asset management:

1. Assess your SAM maturity level: Determine where you are already in the process and plan where you want to go.
2. Build team and stakeholder buy-in: Engage stakeholders in the SAM process as this involves hiring a dedicated SAM employee to guide the process.
3. Evaluate and implement a SAM solution: The first two steps will help you determine the best SAM solution for your needs. Create a software vendor assessment matrix during the study to compare different vendor capabilities.
4. Discover all software assets: In this core SAM process, you need to discover all software assets including SaaS and shadow IT. It is critical to understand and document this before moving on to the next steps in the SAM process.
5. Categorize software licenses and analyze usage: demystify the software licenses and analyze where (and how often) your software is used. This will help you organize licenses by department and find underused areas of software.
6. Software license recovery and optimization: Use the usage and licensing data collected in the previous step to determine if your organization is getting value from SaaS and other software investments. Optimize software spend and decide how to reclaim, reallocate or optimize licenses for the best return on investment for these businesses.
7. Implement a software acquisition policy: By completing the previous steps, your SAM team will be able to identify where strategy is needed and who needs to be involved. This is useful for all existing reforms that require a special standardized strategy.
8. Create and forecast software budget: Wasting money on unused software assets is a huge issue for many organizations, so once a comprehensive SAM process is in place, areas for improvement in usage and spend history will become apparent. based on your findings, it will be easier to make more accurate forecasts of software budgets.

The Evolution of ITAM and the Importance of ITAM Software in the Era of Digital Transformation

In an increasingly complex IT environment, IT asset management (ITAM) goes beyond simply cataloging hardware and software. The need to ensure that software assets are aligned with business processes and contribute to operational efficiency has driven the evolution of ITAM software. This ITAM tool has become indispensable for proactively managing assets, optimizing asset utilization, and driving informed decision-making.

Integrating ITAM software with other management tools, such as ITSM software, creates an integrated solution that covers everything from incident management to configuration management. This synergy between ITAM processes and ITSM processes allows for a holistic view of the total cost and useful life of assets, facilitating efficient management of IT resources.

Key Features and Benefits of ITAM Software

Robust ITAM software offers capabilities beyond simple asset tracking. The ability to consolidate data from multiple sources, including Active Directory, enables the creation of an accurate and up-to-date inventory. Artificial intelligence is increasingly present in these tools, automating tasks such as identifying underutilized software and predicting the need for new licenses.

Contract management is another fundamental pillar of ITAM software. By centralizing information on licenses and contracts, the tool avoids penalties for non-compliance and optimizes software spending. Integration with KCS (Knowledge-Centered Service) facilitates access to relevant information, streamlining technical support and knowledge management.

Implementation and Good Practices

Implementing ITAM software requires careful planning and buy-in from all stakeholders, including end users. A free trial of the tool can help assess its suitability for your organization’s needs. Adopting best practices and creating a clear management process are essential to the success of the project.

Agile management can be applied to ITAM software implementation, enabling rapid adjustments and continuous value delivery. Transparent communication and adequate training of end users ensure the adoption of the tool and the maximization of its benefits.

The Future of ITAM and the Role of ITAM Software

The future of ITAM is intrinsically linked to the evolution of ITAM software. The ability to make strategic decisions based on accurate and up-to-date data will be increasingly valued. Integration with other technologies, such as the Internet of Things (IoT) and cloud computing, will broaden the scope of ITAM and require even more sophisticated tools.

THE 4Matt technology, offers complete solutions for software asset management, including the ITAM software. Contact us to learn more about how we can help your company optimize its IT resources and boost the digital transformation.

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