In IT Asset Management, we maintaining database of IT assets, Desktops, Laptops, Servers, Printers , Modems, Scanners, Switches, Routers, etc., record and maintain the details for all the IT assets like serial number, asset code, installation date, expiry date, department and hardware configuration details, Classification of the assets and asset tagging to be done for all the IT assets, Record of new machines, movements and changes in configuration, etc.
IT asset management (ITAM) 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. Assets include all elements of software and hardware that are found in the business environment.
IT asset management (also called IT inventory management) is an important part of an organization’s strategy. It usually involves gathering detailed hardware and software inventory information which is then used to make decisions about hardware and software purchases and redistribution. IT inventory management helps organizations manage their systems more effectively and saves time and money by avoiding unnecessary asset purchases and promoting the harvesting of existing resources. Organizations that develop and maintain an effective IT asset management program further minimize the incremental risks and related costs of advancing IT portfolio infrastructure projects based on old, incomplete and/or less accurate information.