Software Asset Management Archives - EasySAM https://easysam.co.uk/tag/software-asset-management/ Software Asset Management. Simplified. Wed, 25 Jun 2025 08:28:26 +0000 en-GB hourly 1 https://wordpress.org/?v=6.9.4 https://easysam.co.uk/wp-content/uploads/2022/04/easysam_icon-60x60.png Software Asset Management Archives - EasySAM https://easysam.co.uk/tag/software-asset-management/ 32 32 Why licence management should be mission critical https://easysam.co.uk/knowledge-base/why-licence-management-should-be-mission-critical/ Wed, 25 Jun 2025 08:25:31 +0000 https://easysam.co.uk/?p=35396 Audits conducted by resellers and vendors indicate that up to 35% of licences were found to be either underutilised or redundant.

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Audits conducted by resellers and vendors indicate that up to 35% of licences were found to be either underutilised or redundant.

Published on 25th June 2025

Uncontrolled technology sprawl can lead to myriad risks within organisations, making regular reviews and licensing assessments crucial for business.

This is according to Natasha Bezuidenhout, Head of Cloud Services at Altron Digital Business, who says many organisations are losing control of their technology estates and licence management.

Bezuidenhout says: “Technology sprawl – also known as IT sprawl or tool sprawl, occurs when an organisation accumulates a wide and often uncoordinated set of technologies, tools, platforms and systems across its environment. The leading contributors to this sprawl are rapid cloud adoption, lack of enterprise architecture discipline and regular technology optimisation, and sometimes decentralised decision-making.”

As businesses grow, merge or transform, their digital footprint expands, which can result in licences being over-purchased or misaligned to actual usage, and redundant tools going unnoticed and driving up costs.

She says managing technology estates remains a complex administrative overhead for many organisations: “With the complexity of licensing management and understanding the compliance requirements from vendors, the management of these environments sometimes takes a back door and is not a business focus area. This leads to environments that are not running optimally and are not effectively licensed.”

Bezuidenhout notes that local enterprise audits conducted by resellers and vendors like Microsoft partners or software asset management firms indicate that up to 35% of licences were found to be either underutilised or redundant.

Risks of unchecked sprawl

Allowing this sprawl to continue unchecked can result in risks such as security vulnerabilities, operational fragility and downtime, and slowed agility and innovation, she says. “Organisations face increased risks of vendor audits and non-compliance, and IT teams lack a unified view of what’s being used, by whom and for what, and organisations can develop strategic blind spots.”

Within technology sprawl, poorly managed software licensing can rack up costs, Bezuidenhout says.

“The cost implications of technology sprawl include increased IT spend via redundant licensing and subscriptions, higher integration and development costs, hidden costs from shadow IT and poor ROI due to delayed projects. In addition, legacy systems not retired on time may lead to unsustainable tech maintenance over time and unnecessary software investments,” she says. “All vendors have compliance criteria associated with how licences should be leveraged in an environment. Missing these and being audited could result in hefty penalties.”

Audits and assessments

Regular licensing assessments and audits help organisations mitigate the risks and costs of technology sprawl, says Bezuidenhout. “The standard approach would be to complete an annual review, however, where customers have an active change-over in staff or resources and where systems and licensing requirements change. However, it is more effective to complete these validations twice yearly,” she says.

“Assessments identify the correct types of licensing to be used and ensure that licensing is assigned and activated correctly. Cost savings are achieved by not paying for unnecessary assignments and ensuring the most cost-effective ways of licensing the environment have been applied.

Bezuidenhout adds: “We find that more organisations are opting in for licensing assessment support as a service to help them overcome their technology sprawl.”

Source

https://www.itweb.co.za/article/why-licence-management-should-be-mission-critical/lLn147mQAWZ7J6Aa

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Saepul Bahri via Vecteezy

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]]> Unlocking the strategic value of Software Asset Management: 4 critical keys https://easysam.co.uk/knowledge-base/unlocking-the-strategic-value-of-software-asset-management-4-critical-keys/ Wed, 19 Feb 2025 13:37:42 +0000 https://easysam.co.uk/?p=34455 Flexera break down the Gartner report “4 Keys to Unlock SAM’s Strategic Value” and the relevance these principles have for business and tech leaders.

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Flexera break down the Gartner report “4 Keys to Unlock SAM’s Strategic Value” and the relevance these principles have for business and tech leaders.

Published on 19th February 2025

You may not realize it, but software asset management (SAM) could be the fairytale princess of your organization.

Hear us out:

1. SAM works hard

Instead of being at the beck and call of ugly stepsisters, great SAM helps you understand usage, prepare for audits, lower security risks, keep your employees trained… you get the idea.

2. SAM is woefully underappreciated

All too often, other functions wrongly view SAM as mere “bean counting” focused on license numbers and costs, when it’s really a strategic enabler for organizations, enabling cleaner data, greater team collaboration and more.

3. SAM deserves recognition—and a magical reveal

Despite all it does, SAM still has the uninspiring reputation of a tactical and compliance-driven discipline. It deserves a “glass slipper moment” when everyone in your organization gives it the buy-in, the respect and the recognition it deserves.

To change your organization’s perception of SAM and get your technology and business leaders to harness its potential, we recommend reading “4 Keys to Unlock SAM’s Strategic Value.” This Gartner® report outlines essential steps to ensure SAM delivers strategic value.

Here’s our understanding of those four key principles and their relevance for technology and business leaders.

Key strategy #1: Increase C-Level investment in SAM

Organizations should focus on how SAM contributes to cost savings, risk management and innovation enablement.

Despite its potential to reduce costs, mitigate risks and drive innovation, SAM often struggles to secure adequate C-level buy-in. Only with executive sponsorship will SAM initiatives get the visibility, funding and authority they need to succeed.

In their report, we believe that Gartner highlights the importance of framing SAM as a strategic investment instead of a cost center. Here are some ways you can get started:

1. Translate SAM metrics into business value

Avoid technical jargon and present SAM outcomes in terms of cost savings, reduced risk and innovation support.

For instance:

“Our SAM initiatives saved $2 million this year by reclaiming underused licenses and optimizing vendor contracts.”

2. Engage executives with a business-driven roadmap

Create a clear plan that ties SAM initiatives to business goals such as reducing IT spend, enabling digital transformation or improving compliance.

3. Showcase quick wins

Demonstrate SAM’s value with short-term wins such as identifying unused licenses or achieving compliance improvements. Use these successes to build momentum.

Key strategy #2: Resolve SAM data quality issues

Automation in SAM reduces manual effort, increases data accuracy and accelerates the identification of optimization opportunities.

Poor data quality remains one of the biggest barriers to effective SAM. Inaccurate, incomplete or outdated data makes it nearly impossible to manage licenses, track usage and make informed decisions.

Gartner recommends that organizations prioritize resolving SAM data quality issues to unlock its full potential.

Here is how your organization can work to resolve data quality issues:

1. Automate software discovery and inventory

Use automated SAM tools to ensure accurate tracking of software deployments and usage. Automated tools reduce manual errors and provide real-time visibility.

2. Integrate SAM tools with IT systems

Connect SAM tools with IT asset management (ITAM), financial management and procurement systems to eliminate data silos and improve accuracy.

3. Conduct regular data audits

Regularly validate SAM data for accuracy, completeness, and timeliness. Establish data governance policies to maintain data quality.

4. Adopt a centralized SAM repository

Consolidate all software data into a single, centralized repository to ensure consistency across the organization.

Key strategy #3: Upskill SAM resources

Effective SAM leaders foster relationships that extend beyond IT, involving finance, procurement, and even business units to deliver enterprise-wide benefits.

One of the most overlooked challenges in SAM is the skill gap among SAM professionals. SAM requires a combination of technical, analytical and business skills to deliver value. To meet the demands of modern software management, many SAM teams need to evaluate their in-house training and expertise gaps and address them completely.

Upskilling can enable SAM professionals to provide more strategic value. Trained SAM professionals can align ITAM practices to business objectives more effectively, negotiate better vendor contractors and support strategic initiatives such as cloud migrations, cybersecurity and others.

Here are some ways to get that upskilling journey started:

1. Invest in SAM training and certification

Provide training programs to help SAM professionals gain expertise in licensing models, tool usage and vendor negotiations.

2. Foster business and financial acumen

SAM professionals need to understand business strategy, financial management and procurement processes. Offer cross-functional training to develop these skills in your team.

3. Build a SAM Center of Excellence (CoE)

Establish a centralized team of SAM experts to lead initiatives, share best practices and mentor other team members.

4. Leverage external expertise

Partner with SAM consultants or managed service providers to supplement internal skills and drive knowledge transfer.

Key strategy #4: Improve SAM tool performance

Automation in SAM reduces manual effort, increases data accuracy and accelerates the identification of optimization opportunities.

SAM tools are essential for automating processes, improving data accuracy and scaling SAM efforts. We believe Gartner emphasizes the need to evaluate and optimize SAM tool performance to maximize ROI and avoid the struggle that comes with underperforming tools.

Here are some ways to level up your SAM tool’s contributions to the IT organization:

1. Assess tool capabilities

Evaluate existing SAM tools to ensure they meet current business needs. Identify gaps in functionality, such as hybrid environment support or poor data normalization.

2. Integrate SAM tools with IT systems

Integrate SAM tools with ITSM, ITAM, procurement and financial systems to improve data consistency and provide a holistic view of software assets.

3. Leverage advanced analytics

Modern SAM tools offer advanced analytics and reporting features that provide actionable insights into software usage, compliance and cost optimization.

4. Upgrade or replace underperforming tools

If current tools fail to meet expectations, consider upgrading to solutions that offer better automation, accuracy and scalability.

Turning SAM into a strategic enabler

Strategic SAM leaders are involved in IT planning, procurement and investment discussions, ensuring that software decisions are data-driven and aligned with organizational goals.

Let’s recap.

By focusing on these four areas, IT and business leaders can transform SAM from your organization’s unseen heroine into a seemingly magical strategic function that delivers measurable business value.

1. Increase C-level investment

Secure executive sponsorship and communicate SAM’s business impact.

2. Resolve data quality issues

Automate, integrate and govern SAM data to ensure accuracy and reliability.

3. Upskill SAM resources

Invest in training and build a capable SAM team with strategic, technical and financial expertise.

4. Improve SAM tool performance

Optimize tools to automate processes, reduce risks and drive cost savings.

By addressing these challenges, organizations can position SAM as a critical enabler of cost optimization, risk mitigation and digital transformation. Now is the time for organizations to elevate SAM beyond compliance and into the heart of strategic decision-making. The future of SAM is about driving business success, and these four keys provide the roadmap to get there.

Source

https://www.flexera.com/blog/it-asset-management/unlocking-the-strategic-value-of-software-asset-management-4-critical-keys/

Image Credit

Imam Fathoni via Vecteezy

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]]> How to handle the top challenges of SaaS management https://easysam.co.uk/knowledge-base/how-to-handle-the-top-challenges-of-saas-management/ Fri, 06 Dec 2024 13:22:19 +0000 https://easysam.co.uk/?p=34032 Easy to adopt; difficult to manage - but what are the best ways to keep on top of an ever growing SaaS stack?

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Easy to adopt; difficult to manage - but what are the best ways to keep on top of an ever growing SaaS stack?

Published on 6th December 2024

Software-as-a-service has transformed how businesses operate and innovate. SaaS technologies are game-changers, delivering new functionalities that support innovation for staff throughout an organisation.

But while SaaS is easy to adopt, it’s difficult to manage. As usage of SaaS applications grows rapidly, the complexities associated with it can grow greatly. IT staff may have a hard time identifying which applications employees have accessed, what they’re using, how they’re using them, what information (possibly including sensitive data) is accessible, and what security exposures they may create for an organisation. All of these are risks associated with SaaS sprawl that must be addressed before they grow to be unmanageable.

Today more than a third (37%) of IT professionals and executives report that “finding ways to optimise software use” is a “significant challenge,” as detailed in the Flexera 2024 State of ITAM Report. Now is the time to fold SaaS management into overall software asset management (SAM) and IT asset management (ITAM) initiatives.

1. Improve SaaS visibility

Many SaaS applications are easy to try, making uptake of them easy. Try-before-you-buy options, low initial pricing, flexible subscriptions, and appealing functionality are among some of the reasons users will seek them out. Frequently, staffers end up acquiring SaaS without going through their company’s centralised IT procurement process, even if the company has made it clear that IT purchases (including software licences) should go through IT.

Ideally, a company has comprehensive knowledge of all of its IT assets (including software and hardware), but this often isn’t the case. As applications proliferate, they become part of shadow IT – “any software, hardware or information technology…resource used on an enterprise network without the IT department’s approval, knowledge or oversight.”

Unsanctioned SaaS usage means that the company does not have critically important visibility into:

  • How those SaaS applications are being used,
  • How much is being spent on SaaS,
  • The security risks that those SaaS applications may carry.

A SaaS management platform can help improve SaaS visibility and mitigate against common risks. Effective SaaS management initiatives require detailed usage data for complete visibility into the organisation’s IT landscape. A comprehensive discovery step reveals the sanctioned, unsanctioned, licensed, and free SaaS applications running anywhere in the company. Data must be accurate to support the overall IT environment and, subsequently, the efficacy of decision-making across the enterprise. The clarity supports effective management of security threats.

Improved visibility into SaaS not only helps mitigate sprawl and strengthen security; it can improve the bottom line. Clarity into highest-spend vendors (e.g., Salesforce and ServiceNow) can help with effective licence negotiations. The may be possible by optimising subscriptions and consolidating contracts, by reclaiming unused seats and eliminating redundant applications.

One of the largest gaps in visibility is the clarity of the data. Data is often pulled from sources that don’t go deep enough or have a normalisation process, yielding incorrect results, for example, identifying software as “Adobe,” rather than specifying “Adobe Acrobat.” The level of accurate, clear detail is important when gaining visibility.

Similarly, the ability to identify shadow IT can highlight areas staff may need new software that previously hadn’t been considered for purchase. The may indicate where additional budgetary commitments may be necessary (e.g., the growing reliance on generative AI services, like ChatGPT or Microsoft Copilot) to meet staff’s tooling needs and to help optimise their productivity.

2. Assign ownership of SaaS responsibilities

While SaaS applications are often easy for users to access and download, they’re difficult for an IT organisation to identify and monitor. The lack of a clear owner of SaaS procurement, management, and related responsibilities can lead to confusion and problems. Commonly these include inefficiency, overspend (often difficult to pinpoint), disjointed renewals, fragmented use across the organisation, security risks resulting from unsecure applications and data practices, and drains on IT resources when it’s time to remedy issues related to these purchases.

Rather than dealing with fragmented SaaS acquisition and the complications that often follow, organisations can improve their SaaS management initiatives by assigning ownership of SaaS responsibilities. A team dedicated to overseeing SaaS governance can set and maintain guardrails that manage risks and prevent SaaS sprawl.

As a business, you’re not going to stop SaaS spend or SaaS sprawl. But the next time the marketing team requires an XYZ service, a feature of a module from their favourite marketing campaigns, you can’t stop, block, or judge the decisions. The goal is to ensure teams are educated and helped to understand the total cost of ownership of the SaaS spend–not just the user licence costs.

Organisations looking to improve SaaS management should empower this team to oversee responsibilities, including:

  • Enhancing application rationalisation, which is the identification of redundant IT applications to assess which to eliminate in order to minimise application duplication and the resulting expenses and risks,
  • Preventing installation and use of non-compliant software,
  • Ensuring accurate configurations of SaaS apps to minimize security risks,
  • Unifying strategic efforts by ending the siloed purchases of SaaS to enhance business growth,
  • Identifying the TCO of the SaaS spend vs the user license models,
  • Improving the negotiations for licensing deals.

3. Improve SaaS governance

Effective governance of SaaS often proves to be challenging for many organisations. Gaps in control and standardisation for sourcing, procurement, and billing can leave the company exposed to risks. But overspend, security vulnerabilities, and the regulatory risks of possible data governance violations don’t need to become the norm, even as SaaS grows in popularity.

SaaS leaders can improve their company’s governance around SaaS through a variety of measures:

  • Take a thoughtful look at your tech ecosystem and get to the root of why employees may be sourcing SaaS applications. Their needs may speak to a desire for innovation and a more agile approach to technology procurement,
  • Prioritise the elimination of the disjointed, siloed SaaS usage and buying patterns that are so common today. Instead, amplify a unified vision for business growth that’s supported by a centralised approach to SaaS,
  • Establish a regimented SaaS vendor sourcing process. Integrate a vendor scoring system that evaluates factors including data protection, encryption, and vendor reliability. In the instances when users still acquire applications without going through central IT, this structure will help ensure responsible sourcing,
  • Empower your staff to understand the risks around unregulated SaaS usage – and the benefits of the visibility, security, and savings afforded by a more cohesive approach,
  • Be certain that the organisation is compliant with data privacy regulations that govern the access and handling of data (including that of your customers and your employees).

Success with SaaS

You can be an ally who helps your business thrive. Identify and manage SaaS in an effective way. Rationalise and recognise how software is being used. Introduce new ways your business can innovate via good IT practice and governance, while enabling SaaS for your users.

The best course for success is to ensure good stakeholder communication, help them use good data to negotiate better deals, ensure that cost savings are documented across the business, and report back the success to your leaders. Remember, you can’t manage what you can’t see. It starts with visibility.

Source

https://www.cloudcomputing-news.net/news/how-to-handle-the-top-challenges-of-saas-management/

Image Credit

Thanakorn Lappattaranan via Vecteezy

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]]> Webinar: The Future of Software Asset Management https://easysam.co.uk/knowledge-base/webinar-the-future-of-software-asset-management-8th-october-2024/ Fri, 11 Oct 2024 13:26:47 +0000 https://easysam.co.uk/?p=33455 Watch our latest webinar with new partners Sonar Clarity as we talk through how SAM has evolved over the years - and what the future holds.

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Watch our latest webinar with new partners Sonar Clarity as we talk through how SAM has evolved over the years - and what the future holds.

Published on 11th October 2024

How things have changed

Since growing in adoption, the reasons why organisations implement Software Asset Management (SAM) have been changing quite radically over the years. These changes have been brought about by a mixture of internal and external factors acting on enterprises, causing them to continually refine and update the required outcomes of their SAM activities.

The fact remains that you’re never actually ‘done’ when it comes to implementing a SAM program. SAM is continually evolving, and those involved in implementing it have been forced to recognise and embrace this if they are to fully realise all the potential opportunities and benefits.

So, join us and our new partners Sonar Clarity as we look at how software asset management has changed over the years – from traditional on-premise licensing to its incorporation into the wider ITAM philosophy to the rise of SaaS – and discover what the future holds.

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]]> The Future of Software Asset Management | 8th October 2024 https://easysam.co.uk/events/past-events/the-future-of-software-asset-management-8th-october-2024/ Fri, 20 Sep 2024 08:48:46 +0000 https://easysam.co.uk/?p=33303 In collaboration with our new partners Sonar Clarity, we'll be talking through how SAM has evolved over the years - and what the future holds.

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In collaboration with our new partners Sonar Clarity, we'll be talking through how SAM has evolved over the years - and what the future holds.

How things have changed

Since growing in adoption, the reasons why organisations implement Software Asset Management (SAM) have been changing quite radically over the years. These changes have been brought about by a mixture of internal and external factors acting on enterprises, causing them to continually refine and update the required outcomes of their SAM activities.

The fact remains that you’re never actually ‘done’ when it comes to implementing a SAM program. SAM is continually evolving, and those involved in implementing it have been forced to recognise and embrace this if they are to fully realise all the potential opportunities and benefits.

So, join us and our new partners Sonar Clarity as we look at how software asset management has changed over the years – from traditional on-premise licensing to its incorporation into the wider ITAM philosophy to the rise of SaaS – and discover what the future holds.

What's on the agenda?

  • Welcome
  • The Evolution of SAM:
  • Compliance -> Proactive License Management -> Cost Management -> Optimisation
  • Traditional SAM started with a focus on on-premise software licenses and software vendor audits.
  • Transition from reactive to proactive license management
  • Shift to Cloud and SaaS
  • Artificial Intelligence
  • The Impact of SaaS:
  • Visibility / Discovery
  • Proactive management
  • FinOps – Financial Accountability and cost management
  • Shadow IT: A Growing Concern for SAM:
  • What is Shadow IT?
  • Risks of Shadow IT
  • Managing Shadow IT
  • Introduction to Sonar Clarity:
  • SaaS Discovery: automatic discovery of all sanctioned and unsanctioned SaaS applications.
  • Cost Optimisation: real-time tracking of SaaS spending with insights into cost-saving opportunities.
  • Security and Compliance: ensures that all applications adhere to security policies and helps prevent Shadow IT risks.
  • Sentiment Analysis: automated feedback from employees to optimize software usage and licenses.
  • Q&A Session

This event was run on Tuesday 8th October 2024.

Check out what events we've got coming up via the link below.
Current Events

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Andrew Neel via Unsplash

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]]> Unlocking the full potential of your SaaS investments through SAM maturity https://easysam.co.uk/knowledge-base/unlocking-the-full-potential-of-your-saas-investments-through-sam-maturity/ Mon, 29 Apr 2024 11:12:52 +0000 https://easysam.co.uk/?p=30111 With 32% of SaaS spend estimated to be underutilised or wasted, discover how a mature SAM program can help avoid any unnecessary overspend.

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With 32% of SaaS spend estimated to be underutilised or wasted, discover how a mature SAM program can help avoid any unnecessary overspend.

Published on 29th April 2024

No matter where you are in your SAM program maturity, you’re likely focusing on optimizing your software vendor relationship. According to the latest Flexera 2023 State of ITAM Report, negotiating contract terms with software vendors is a key practice for half of organizations in managing their SaaS. As asset managers prepare for renewals and major contracts, it’s crucial they highlight user adoption and identify optimization opportunities, while also developing strategies focused on reporting and governance to maximize their investments.

A whopping 32% of SaaS spend is estimated to be underutilized or wasted (Flexera 2023 State of ITAM Report). With SaaS solutions from Microsoft, Salesforce, ServiceNow and Adobe ranking among the top ten vendors by spend, SaaS contracts are focus points attention for SAM teams.

Myth buster: SaaS contracts are un-optimizable?

One misconception among SAM professionals is that SaaS contracts are inflexible. However, by closely managing these contracts you can gain significant value, creating cost savings or cost avoidance. Sometimes, there’s a lack of support from management or executive sponsorship where SAM teams identify optimization potential or see there can be something improved—in order to gain executive buy-in and build your SaaS optimization muscles, it’s important to show the value your program can deliver.

Main challenges SaaS management addresses

Two key issues in SaaS management are wasted or underutilized spend and shadow IT. On average, a third of your SaaS licenses are underutilized or unused. Instead of aiming to save 30% on SaaS, a more realistic starting point is saving five or ten percent, as these savings will compound over time.

Shadow IT is a term that refers to the proliferation of SaaS applications, where the IT asset management teams haven’t identified all used applications within their environments. Enterprise organizations can average eight to ten new SaaS apps monthly. With that influx, how do you see all the apps that users are actually using?

Shadow IT creates additional issues, such as connecting to some of the security cloud app brokers to show all the SaaS apps that users are logging into. Shadow IT also creates complications into seeing SaaS applications that may have been expensed on a credit card or freemium applications (that IT asset managers don’t have visibility into). Lastly, many employees can still log into their SaaS applications after they’ve left the organization, presenting a huge security risk to organizations.

Navigating the complexity of SaaS ecosystems

SaaS platforms have evolved into a complex ecosystems, with licensing and contracting differing for each and every version and vendor. This complexity requires asset managers in various platforms like Salesforce, ServiceNow, Microsoft, and Adobe, while also interpreting complicated commercial terms. Manual analysis of contractual and legal facets, coupled with data extracted from SaaS platforms, is nearly impossible. Additionally, there’s no standard for the data SaaS vendors report in their API, complicating subscription allocations and usage tracking.

SaaS maturity evolution

Organizations struggle with SaaS management not due to a lack of understanding, but because each organization is at a different point in its management and ITAM journey.

Some are just getting started with ITAM, with a heavy focus on on-premises software and hardware and haven’t yet thought about managing their SaaS applications. Others have been doing it for years and they have a more advanced understanding of their capabilities. Below is a SaaS maturity model that can be used as a simple view into where your organization is and the steps to achieve the next level of growth.

Incremental steps (aiming for 5-10 percent savings) toward delivering business outcomes, rather than aiming for significant cost recoupment (aiming upwards of 30 or more percent), are crucial for realizing early value realization.

Companies new to SaaS management typically operate at the ad hoc level, employing inconsistent approaches across major SaaS vendors. However, with potential value becoming evident, organizations can save money through manual processes. As executive sponsorship increases and processes streamline, you can start to see real value in managing SaaS effectively.

As your organization matures their SaaS management, you can easily identify licenses that are on the shelf, and licenses that are seldom used or never used. Automation enables constant optimization, by having licenses in the available pool when new hires or other team members require a license. Your SAM program can go to an even deeper level of determining licenses in use that can qualify to be downgraded to a lower cost license, recouping investment. Additionally, organizations can start identifying overlapping SaaS functionality used throughout the various business units, and either eliminate redundant applications or realize improved license economics through volume-based pricing and consolidation of contracts.

At the highest level of this value-driven model, ITAM is delivering investment and value back to the business units by making commitments to confidently lower the costs year-over-year by a certain percentage. This is possible by having policy-driven activities that are measured through quantifiable business outcomes you can demonstrate and repeat over time.

Accelerating SaaS management maturity

Let’s recap: optimizing the software vendor relationship is essential to any ITAM organization. SaaS platforms have evolved into a complex ecosystems, with licensing and contracting differing for each and every version and vendor; by closely managing these contracts you can gain significant value, creating cost savings or cost avoidance. Organizations often struggle with SaaS management not due to a lack of understanding, but because each organization is at a different point in its management and ITAM journey; as your organization matures their SaaS management, you will more easily identify licenses that are on the shelf, and licenses that are seldom used or never used.

Source

https://www.flexera.com/blog/it-asset-management/unlock-the-full-potential-of-your-saas-investments-through-sam-maturity/

Image Credit

Flexera

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]]> The Hidden Costs Of Unmanaged IT: best practices to eliminate sprawl, gaps and waste https://easysam.co.uk/knowledge-base/the-hidden-costs-of-unmanaged-it-best-practices-to-eliminate-sprawl-gaps-and-waste/ Thu, 11 Apr 2024 09:47:04 +0000 https://easysam.co.uk/?p=30000 No matter an organisations size, it can be easy to lose track of IT resources - but what steps can be taken to combat this issue?

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No matter an organisations size, it can be easy to lose track of IT resources - but what steps can be taken to combat this issue?

Published on 11th April 2024

Do you know the exact number of IT applications your organization uses? What IT assets do you have in place for collaboration and project management? What mix of devices do employees rely on, and on which operating systems do they run? Do you know who has access to those resources?

Pinpointing an answer may be tricky. Digital transformation may have ushered in new possibilities for computing, but it also introduced a level of tool sprawl that burdens IT teams everywhere.

Enabling innovation and productivity while maintaining visibility into and control over an expanding array of digital tools isn’t simple. There’s a reason nearly half of IT teams report feeling overwhelmed. Worse, tool sprawl has an even greater impact on organizations by creating security gaps and wasting money.

A small amount of IT sprawl leads to big business problems.

IT sprawl occurs when an organization loses track of its IT resources. The result is redundant software tools, underutilized licenses, unapproved applications used by employees and outdated or unsupported systems lingering in the IT ecosystem. Software-as-a-service (SaaS) sprawl, a subset of IT sprawl, specifically refers to the unchecked spread of SaaS applications. It often starts innocently, with teams adopting new cloud-based solutions to address immediate needs, then escalating to overlapping functionalities, wasted resources and increased vulnerabilities.

The swift shift to remote work left many organizations scrambling to band-aid IT to simply keep things running, but it left those companies with a shadow IT hangover. While productivity and IT flexibility are good, organizations—specifically small- to medium-sized enterprises (SMEs)—risk weakening their security posture and compliance while wasting budget without central visibility into all of the resources employees are using.

The problem is growing. Gartner estimates that 41% of employees acquired, modified or created technology outside of IT’s visibility in 2022. By 2027, 75% of employees are expected to have done so. It’s worse for SMEs; Capterra reports that 57% of them estimate they have high-impact shadow IT within their walls today.

IT sprawl impedes operational efficiency. Teams waste valuable time navigating between multiple applications, some of which may have overlapping functionalities. Such redundancy hampers productivity and inflates costs as organizations find themselves paying for underutilized or unnecessary software subscriptions.

From a security perspective, too many applications and tools broaden an organization’s attack surface. Bad actors, now armed with AI, can target every unmonitored application or device. Without full visibility and control, IT teams can’t enforce consistent security policies or detect breaches, risking data leaks and compliance violations.

Steps For Improvement

No matter the size of your organization, it’s time to take an active role in combating IT sprawl. Managing SaaS applications involves a comprehensive approach to securely and effectively managing different user roles, levels of permissions, handling of departed employees and upcoming renewals. Here are a few best practices to get started:

1. Conduct a comprehensive asset inventory.

Lean on specialized IT inventory management tools to automatically track and catalogue all software and hardware assets. This should include details like usage metrics, license terms and renewal dates, ensuring nothing goes unnoticed or unmanaged. You need a deep understanding of what your employees are using. A manual system is good but often results in some things going unnoticed. A proper automated process leaves no stone unturned and ensures an inventory audit is secure, ethical and complete.

2. Develop a plan for identity and asset management implementation.

Once you have a good sense of what’s in your IT environment, deploy advanced identity and access management (IAM) solutions that offer granular control over user access, incorporating features like single sign-on (SSO), multi-factor authentication (MFA) and conditional access policies. Look for those that integrate seamlessly with your existing systems to automate the provisioning and de-provisioning process, reducing the risk of orphaned accounts and unauthorized access.

3. Be strategic about application rationalization.

Conduct a thorough application rationalization process, systematically evaluating each software tool against business needs, usage data and security compliance. Decide whether to keep, replace, retire or consolidate each application, focusing on eliminating redundancies and optimizing your software portfolio.

4. Identify processes for automation.

Work toward removing manual IT tasks that can be automated with modern software tools—and make sure you’re clear about those that can’t be fully automated. Processes like software deployment, patch management and compliance auditing are great candidates for automation, reducing your IT workload, minimizing human error and speeding up response times to security incidents.

5. Create an accountability framework.

Establish (and educate staff about) clear policies and procedures for how employees should acquire and use new tools and applications, and create a formal review process for any new software adoption. Determine ownership of each application and IT asset to specific individuals or departments, and schedule regular review meetings to assess the IT landscape and adjust strategies as needed.

6. Be prepared.

Review your backup and disaster recovery (DR) plan to ensure you have clear procedures for data backup, system restoration and business continuity. Make sure any incident response plan outlines steps to be taken in the event of a breach, including communication protocols, mitigation strategies and post-incident analysis.

By implementing these best practices, you can effectively combat IT and SaaS sprawl to establish IT environments that are as secure as they are productive.

Source

https://www.forbes.com/sites/forbestechcouncil/2024/04/04/the-hidden-costs-of-unmanaged-it-best-practices-to-eliminate-sprawl-gaps-and-waste/

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Marvin Meyer via Unsplash

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]]> What Software Asset Management programs do for higher education https://easysam.co.uk/knowledge-base/what-software-asset-management-programs-do-for-higher-education/ Fri, 29 Mar 2024 11:00:00 +0000 https://easysam.co.uk/?p=29905 Schools may be breaking up for the Easter holidays - but it's never the wrong time to learn about the benefits of SAM!

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Software Asset Management

Schools may be breaking up for the Easter holidays - but it's never the wrong time to learn about the benefits of SAM!

Published on 29th March 2024

It was once a daunting task to manage thousands of student, staff and faculty devices in higher education. It became even more difficult as colleges embraced hybrid learning and remote work, introducing personal devices into the mix and allowing work across multiple time zones and platforms. For IT departments, this presented a multitude of challenges and security concerns, not to mention drain on manpower.

In the past, managing devices might have meant literally going from computer lab to computer lab, with IT staff members physically downloading updates and other software onto each device. But now, keeping the whole ecosystem online can be done digitally.

This is where software asset management (SAM) programs come in. These are highly organized systems for managing a variety of devices, supporting each step of the lifecycle. Products like Microsoft Intune, Jamf and ServiceNow offer these capabilities, and they might be just the solution that higher ed needs to level up efficiency and safety across administrative, educator and even student devices.

In a recent CDW white paper, experts suggest optimizing logistics and funding to rethink how institutions deploy, manage and sustain device programs. The authors point to shrinking post-pandemic budgets and supply chain issues, all amid the backdrop of a “proliferation of devices,” which can enhance user experiences but also cause new challenges.

Here’s what IT staffs in higher education should consider as they look to implement a school asset management or software asset management (SAM) program.

How School or Software Asset Management (SAM) Benefits Higher Ed

Today’s college students expect to at least have the option to learn online, and 70 percent even express a preference for doing so over in-person learning, according to the University of the Potomac. This evolution in higher education, along with the ability of students, faculty and staff to use their own devices, has led to an increased need for a single platform or management program from which to control software. This is even more important due to the staff recruitment and retention challenges IT teams face, especially in the realm of security and privacy.

SAM programs ensure software on all devices is university-approved and being used securely and efficiently.

Beyond security, there are a variety of other benefits — financial, logistical and even safety — that come with investing in a school or software asset management program. However, an EDUCAUSE poll showed that institutions aren’t using these programs to the extent they could. Just 1 in 4 institutions reported using a SAM program, according to survey data released in December 2022.

Paige Johnson, vice president of education marketing at Microsoft, which offers the asset management program Intune, says there are a few possible reasons for the lack of adoption. Some management tools, for example, address only the needs of commercial customers, rather than education-specific apps such as learning management systems and discipline-specific software. Others might not see a net positive financial cost-to-benefit ratio, though Johnson says “Intune also provides benefits that far outweigh the costs, and often moving to cloud management offers significant cost savings versus traditional on-prem management products.”

Here are some benefits higher education institutions might enjoy.

Easier device tracking and updating

Higher education institutions can improve security and free IT staff members to do other, more strategic tasks, leaving the days of walking lab to lab in the past. “It’s the ability to track all of your inventory — your device and software inventory — in one place, so that you can easily look at what is and isn’t being used, easily update things and make sure they are compliant,” says Mat Pullen, senior product marketing manager for education at Jamf.

He adds that in the past — when IT departments were centralized, and learning and working occurred almost exclusively on campus — everything was under IT’s control. Now, the increase in personal devices, even if they are university-owned, raises additional questions and challenges that need to be addressed.

Improved safety

Relying on users to update their own devices could make institutions more vulnerable to cyberattacks, Pullen says.

“Higher ed at the moment is at such risk of network threats, malware and phishing — if you don’t know what’s on the device, or whether it’s had its security patches, then the likelihood of that device being the infraction point is a lot higher,” he says. “Having it enrolled in an asset management program is going to give you insight into what those problems are.”

With the average cost of a security breach at around $3.65 million, according to IBM’s 2023 Cost of a Data Breach report, purchasing an asset management program proactively is much cheaper. Pullen points out that IT staff can give end users a choice of when to update, but with an asset program, they can eventually force an update after a countdown, to ensure safety and security.

Options for bring-your-own-device users

Some IT staff leaders might hear concerns from students and staff about how a school asset management system could limit the use of their own BYOD devices. Johnson says this isn’t the case.

“These programs empower colleges and universities to oversee devices throughout their entire lifecycle,” she says. “However, some individuals who bring their own devices to university environments may opt out of device management, preferring to remain outside the institutional infrastructure.”

She adds that there are misconceptions about the “extent of visibility and control” the institution would have over personal devices. In addition, users might benefit from more flexibility.

“Whether studying or working from home, a coffee shop or across different campuses, users can seamlessly access necessary services without disruption,” she says.

Streamlining duplicate programs

In higher education institutions where separate colleges, schools, departments or programs might be siloed from others, there may be similar or duplicate software programs installed on devices, which can cost the institution twice as much.

Asset programs, Pullen says, can help IT departments see where those licenses have been allocated and how frequently they are being used.

“If we actually had one version, you have cost savings around professional development,” he says. “Rather than training two sets of staff to use two different types of software, why don’t we just use the same piece of software and train them in one go?”

Increasing IT staff bandwidth

When IT departments aren’t manually updating devices, they are free to allocate their staff — as much as half, in some cases — to other tasks entirely.

“There are a lot less manual hours going into it, so the cost savings is in personnel and more efficient use of those people,” Pullen says.

Similar to the ChatGPT-era fear of being replaced, Pullen says, IT staffs could understandably be worried about these programs taking their jobs, but that fear is unfounded.

“With rising cybercrime, their role is transformed into not just managing devices but looking at the data they’re getting to better use the devices, and to understand the security risks to help people raise awareness. They aren’t just fixing keyboards anymore and can be more proactive rather than reactive,” Pullen says.

Allocating access and connectivity resources appropriately

If you don’t know how many devices and what types are trying to log in to your network, it can be a massive strain on the IT infrastructure. Colleges can make adjustments to their networks and support distributed usage patterns based on that information, even adding access points to bolster Wi-Fi coverage in popular places like parking lots.

Weighing the Pros and Cons of Implementing a SAM program

While it can seem like a big decision and will require an initial investment, Pullen explains that housing all device management in one program is a safer, more efficient way forward for higher ed tech staffs. At some point, he explains, it may be a good idea to weigh the increasingly substantial financial and safety risks of not implementing SAM. It’s worth a conversation with your IT staff about the future of your program and the direction of your leadership principles, and how SAM plays into that.

Source

https://edtechmagazine.com/higher/article/2024/03/what-software-asset-management-programs-do-higher-education-perfcon

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Pixabay via Pexels

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]]> What is Software Asset Management? The essential guide for 2024 https://easysam.co.uk/knowledge-base/what-is-software-asset-management-the-essential-guide-for-2024/ Tue, 19 Mar 2024 10:00:00 +0000 https://easysam.co.uk/?p=29757 Get back to basics with this guide on the benefits of software asset management, and why SAM is so important to businesses today.

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Software Asset Management

Get back to basics with this guide on the benefits of software asset management, and why SAM is so important to businesses today.

Published on 19th March 2024

When you think of asset management, you might picture large equipment or electronic devices being physically tagged and tracked by asset monitoring software.

However, many of these platforms can track more than just equipment. Enter software asset management, or SAM, which describes the process of tracking the acquisition, consolidation, maintenance, usage, and disposal of business software tools. Considering the majority of businesses use some kind of online platform in 2024, this kind of service can do a lot of good.

In this guide, you’ll learn about what software asset management is, the best practices for the process, and how it can help your business.

What Is Software Asset Management?

Software asset management (SAM) is an online system that allows users to consolidate their software licenses, patches, inventory, and metering in a comprehensive, all-in-one hub. Essentially, this kind of platform can help you manage your online IT infrastructure across multiple devices, systems, and servers.

What Is a Software Asset?

A software asset is any online tool, app, or program that you use to run your business. Essentially, any digital element of your IT infrastructure would be considered a software asset.

Examples of a software asset include software licenses, terms and conditions agreements, maintenance documentation, and any other resource associated with these kinds of online tools.

Software Asset Management Benefits: Why is SAM Important?

Now that you know what software asset management is, it’s time to get a better idea of why you should care. After all, software asset management systems, like most business software, cost money and your budget might be too tight to sign up without a good reason.

However, given the importance of SAM to both IT security and legal licensing compliance, it’s an investment that you might decide is worth making. After all, smaller businesses can’t afford the eye-watering cost of suffering a data breach, while larger ones with deeper pockets don’t want the PR headache.

These are just two of the clear benefits of software asset management platforms that show you exactly how important it is for your business.

Save money

The goal of installing any kind of business software is often to save money, and luckily, that’s exactly what software asset management systems do. How exactly? Well, there are a lot of ways that these platforms can help you reduce costs across your business.

For starters, software asset management allows you to effectively track all the online tools your business uses, preventing redundancies, overdue payments, and other costly mistakes that result from a lack of information about your IT infrastructure.

Additionally, with so many tech regulations hitting the business world, software asset management can help you comply effectively, so you won’t get hit with unnecessary fines.

Reduce risk

Tech regulations have become quite significant in recent years, which means businesses need to have their various software in order to ensure the security of user and company data. Software asset management platforms can help you respond to audits, which will generally help you reduce risk.

That’s not all, though. Given the threat of security breaches across the business world, software asset management tools are designed to keep you up to date on all security updates, so you can be sure that you have the latest iteration of a particular tool to prevent your data from being leaked.

Improve IT productivity

Your IT team has enough to worry about, with all the forgotten passwords and malfunctioning technology. The last thing you want them to have to worry about is what kind of software is available, expired, or redundant.

This is where software asset management platforms come in handy. They empower your IT team to improve productivity by giving them a full picture of your digital infrastructure. Basically, in the same way a Customer Relationship Management (CRM) software can help your sales team, a software asset management system can help your IT team.

Software Asset Lifecycle

The lifecycle of a software asset is important to understand, as it can help you better manage your system for your business. Here is the typical lifecycle of a software asset within your organization:

  • Establish necessity for software
  • Request software acquisition
  • Purchase software license
  • Issue software license
  • Use and track software license
  • Deactivate software license

While that might not seem like a lot to keep track of, the reality is that each software asset in your business may follow this path, and that can be a lot to manage without a good system. Software asset management can consolidate, organize, and generally improve this process, and all the others that follow, so you aren’t left playing catch up.

Software Asset Management vs Hardware Asset Management

Given the fact that software asset management exists, it’s fair to assume that hardware asset management is also an important aspect of overall IT asset management. So, what is the difference between the two?

In the simplest of terms, software asset management deals with digital and intangible assets, like software licenses and online applications, whereas hardware asset management tracks physical objects, like equipment and devices associated with your business.

Additionally, hardware asset management typically uses some kind of tracking technology, like RFID tags or BLE beacons, which are physically attached to the assets in question. This allows them to be scanned in via smartphones or other devices, allowing their physical location to be tracked as well.

Software Asset Management Best Practices

If you think that software asset management is something that your business should be prioritizing, we don’t blame you. This kind of business tool can make a big difference for your company, particularly if you have a lot of online resources that require licensing and maintenance on a regular basis.

But what is the best way to roll out a software asset management strategy? Here’s a step-by-step guide that should help you get started:

  • Evaluate your SAM situation – You can't move forward without knowing where you are. Check with your IT team to learn about your current software asset management status.
  • Choose your methodology – You'll have to decide what kind of SAM strategy you want to employee, picking how you actually want to manage your software assets, whether it be usage and implementation or acquisition and recycling.
  • Assemble your team – You'll need to establish who in your organization is going to be in charge of and on board with the software asset management system to ensure accountability.
  • Pick your SAM solution – There are plenty of asset tracking platforms out there that deal specifically with software, so you'll have to pick one that fits your particular needs.
  • Begin organizing your software assets – Once your solution is set up, you'll have all the tools you need to begin organizing your software assets into a comprehensive system that your IT team can manage in a meaningful way.

Now that your software asset management system is actually set up, the world is your oyster. You can categorize specific software assets to keep a closer eye on them, consolidate redundant software that is costing you money, and develop business policies that ensure your infrastructure stays tidy and productivity throughout your business.

Source

https://tech.co/asset-tracking/what-is-software-asset-management

Image Credit

Scott Graham via Unsplash

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]]> What is IT Asset Management? Everything you need to know in 2024 https://easysam.co.uk/knowledge-base/what-is-it-asset-management-everything-you-need-to-know-in-2024/ Mon, 26 Feb 2024 11:21:38 +0000 https://easysam.co.uk/?p=29599 It might be hardware, it might be software, or it might even be entire systems - here's how to ensure they're managed properly.

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Software Asset Management

It might be hardware, it might be software, or it might even be entire systems - here's how to ensure they're managed properly.

Published on 26th February 2024

IT Asset Management (ITAM) is the process of accounting for the location and condition of all business assets. The goal is to optimize asset use, so that all asset lifecycles are as long as possible and the company saves the most resources.

IT assets might be physical laptops and office chairs, or they might be intangible things like software licenses. Whatever the case, your business will need to have a plan in place in order to ensure that nothing gets lost in the shuffle. For better security, efficiency, and long-term success, you need an IT asset management process.

What types of IT asset management are right for you? What is asset tracking and how can it help your operation? And how can you get the process started? We’ll answer all those questions and more.

In this guide

  • What Is IT Asset Management?
  • IT Asset Management Process
  • 4 Types of ITAM
  • Why Is IT Asset Management Important?
  • Benefits of IT Asset Management
  • IT Asset Management Software
  • Next Steps: How to Start IT Asset Management

What Is IT Asset Management? (ITAM)

Information Technology asset management — sometimes shortened to “ITAM” — refers to a process for managing everything that a company owns, from software to hardware.

IT asset management is an essential element of most businesses, and any medium or large operation should have a dedicated IT asset manager on the team. These manager should work to increase asset lifecycles with both preventative and corrective maintenance, as well as tracking all asset locations at all times.

What is an IT Asset?

IT assets can be broken down into two categories: Tangible hardware (from staplers to heavy-duty vehicles) and intangible information (software, paperwork, or IP). Even the processes and systems that a business uses to operate can be considered intangible assets, which ironically makes an IT asset management plan itself an IT asset.

Example of the most common tangible IT hardware include laptops, desktops, displays, headphones, keyboards, adaptors, desks, chairs, light fixtures, speakers, scanners, printers, and video conferencing systems. Examples of common intangible IT assets include business software, subscriptions, deeds, product warranties, licenses, and intellectual property.

How Does IT Asset Management Work?

All IT assets should be tracked and regularly audited. Some assets may be used or moved frequently. For example, a laptop might be signed out to one employee for a day or a week, before being returned and signed out by a different employee. The same might be true for an intangible software license.

Not all assets are moved, but the condition of all assets must be regularly audited. A light fixure is unlikely to ever be moved once it’s installed, but its condition can easily change if a bulb burns out. IT asset tracking and auditing can reveal issues early, allowing for maintance that can keep normal operations running smoothly.

IT Asset Management Process

IT asset management isn’t a single task. It’s an ongoing process that you’ll need to continue fine-tuning across the entire course of your business journey. Treat it like a marathon, not a sprint.

A business’s exact IT asset management plan will vary, depending on the assets used and the size of the operation. However, some general principles can help guide you through the process of instating and evolving your own plan.

Document your current setup

From the first day it launches, every business is already “managing” its assets. Without a plan, however, you’re likely managing them poorly. The first step to improvement is logging all your current assets’ locations and conditions. Try putting together a single spreadsheet listing of your assets, so that you’ll have a primary guide to refer to. You should also document your current approach to tracking your assets, even if it’s just through word-of-mouth.

Determine your asset groups

Group your assets by type. Laptops and chargers might be one group, while IP and deeds will be another. You’ll be treating these assets differently: Laptops will likely be checked out by employees for one-time or ongoing use, while your property license simply needs to be kept in a safe location. By grouping them, tracking and assessing them will become easier in the future.

Determine your asset needs

Your employees will likely need to use certain assets at set times or for specific purposes. Figure out what these are, and you’ll be able to build your management practices out in response to your asset needs. For example, this may be seasonal: A landscaping company’s lawnmowers can likely be moved to the back of the warehouse during the winter, but the snow blowers should be easier to access.

Assign employee roles

Once you know which employees will need which assets, you can create certain roles to put them in. Perhaps the writers at a marketing firm will need access to the standard laptops, while the design team will need higher end laptops with Adobe Creative Suite licenses.

Remain open to collaboration

Don’t silo all asset management concerns with a single manager or team. Every employee may not need to use every single asset, but they should all have an understanding of how the management process works, so that they’ll know their part within the system. To encourage collaboration, make your documentation available to anyone at your company.

Best Practices for IT Asset Management

IT asset management is just one part of a broader web of business management practices that will help you make the most of your assets. Here are the related practices that you should weave into your process.

  • Conduct regular audits: Asset inventory audits can verify the existing data you hold on your assets.
  • Invest in asset lifecycle management: Your process for optimizing an asset's lifespan should cover the four stages of planning, acquiring, operating and maintaining, and disposing.
  • Establish training days: Consider doing a quick all-hands training session once a year, so that all employees are reminded of their role in the asset mangement process. Alternatively, this training could be a part of an onboarding process.
  • Explore ways to reduce asset downtime: Once you have a management plan in operation, one of the best ways to further optimize it is to looking into keeping assets in use as much as possible, since this increases revenues.

4 Types of ITAM

How do you group the assets you’re managing? In today’s internet-reliant world, we’ve moved beyond just hardware and software. Here are the four general categories of asset management to consider.

Hardware and software asset management

This approach handles common IT assets like laptops and the applications on them, and extends to servers, chargers, and other frequently used tech tools. It might even encompass entire workstations.

Digital asset management

Digital assets might include licenses and any other owned digital information tracked with administrative metadata, including images, video, and web pages. These can be managed through software tools.

Cloud asset management

Many IT operations depend on cloud service providers — typically Amazon, Google, or Microsoft — to host their systems. These cloud services must be managed with dedicated programs, and may require an employee familar with cloud software.

Fixed asset management

Non-movable assets must be checked regularly for wear and tear, but they can be managed without the complexities of signing them in or out to specific employees. Examples of fixed assets include desks, chairs, printers, light fixtures, and AC units.

Why Is IT Asset Management Important?

IT asset management is the skeleton of a business: It provides the structure that all your daily operations depend on to stay in working order.

Without the right management, assets will become lost, and you may find yourself buying too many of one type of asset while running out of another type of asset. Every time you mismanage an asset, you’ll lose out on potential revenues.

You’ll also need to know the condition of all your assets at all times. Keeping old IT assets around too long opens your operation up to data breaches or other cybersecurity concerns. The cyberattack industry regularly costs businesses over a billion per year collectively, with individual businesses losing over $100,000 a year according to one 2023 study.

Benefits of IT Asset Management

We wouldn’t recommend IT asset management so strongly if its benefits weren’t key to a successful business. Here are the top benefits you should expect from the process.

Steady workflow

It’s impossible to overstate the importance of reliable, efficient work for a business: Any unexpected work blockages will inevitably push revenues down. Keeping assets well functioning is key to ensuring that a business is operating at peak capacity. As a result, IT asset management plans are essential to nearly any business.

Costs saved

IT asset management also saves money that would otherwise go towards replacing or repairing assets. Without a management system, assets can and will be lost, stolen, or treated poorly, all of which will cut their lifespan prematurely short. Asset tracking costs money, but it will ultimately save you a lot more money.

Regulatory compliance

Any business must follow local, state, and federal regulation. This comes in many forms, from tax filing procedures to real estate compliance. The information you’ll have on hand thanks to a good IT asset management plan will help you maintain data compliance, HR compliance, health and safety, and more.

Improved security

Increased visibility of your assets will naturally deter theft or misuse. In the case of powered assets, from computers to vehicles, you may even be able to track out-of-hours use. That increased visibility also applies to cybersecurity concerns, since you’ll be able to keep tabs on company information that might otherwise to stolen in phishing or ransomware attacks.

Centralized operations

Simplcity is key. By keeping all asset locations and conditions charted out in a single location, under the care of a single asset management team or manager, you’ll reduce the chances of miscommunication.

Scalability

Your business growth will require ever-increasing amounts of assets. Without a plan to track each one, you’ll likely see an increasing in misplaced assets or problems with accidentally ordering too many or too few.

IT Asset Management Software

Using a dedicated IT asset management software will give you access to a range of useful features. The best asset tracking companies will offer these functions and you should also look for them when considering if free asset tracking software solutions are robust enough for your business needs.

  • Asset checkout process: Employees can request the IT assets they need with a request ticket, allowing for a streamlined system in which all assets are always accounted for.
  • Alerts: The software's automated alerts will help managers stay on top of regular checkups.
  • Access controls: These role-based permissions will ensure that every team member will only have access to the assets and features that they need to use. This avoids confusion and increases data security.
  • Reporting and analysis: Once the data is gathered, you need to analyze it, and asset tracking software is built to auto-populate the exact types of reports you're likely to need.
  • Data visualizations: Charts and graphs can be easily created with software and populated with the relevant propriatary information on your assets, helping insights jump out.

Next Steps: How to Start IT Asset Management

Every industry and business has different IT asset management needs. To figure out yours, start by documenting all your current processes, grouping all your assets by type, and determining what asset needs each of your employees has.

Once you have a plan in place, don’t sit on your laurels. Keep auditing your assets, and figure out a regular maintenance plan for any assets that might otherwise break down. Corrective maintenance is good, but preventative maintenance is better.

Source

https://tech.co/asset-tracking/it-asset-management

Image Credit

momius via Adobe Stock

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