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Best Practices to Follow in IT Asset Management

Modernized workplaces are no longer keeping track of their financial, marketing, inventory and other assets just by paper. Technology has revolutionized how data and asset are managed using automated software applications. Either businesses are hiring professional IT asset management solutions and services or having in-house teams to get the best results. Whichever it is, it is always a good idea to keep track of the whole process, and make sure that everyone is doing their job right.

What we mean by that is to focus on following the best practices that are currently trending in the industry and finding proven success. You do not have be an IT expert yourself, just have an overall understanding of which direction your IT asset management process is heading. Check out this following article by Criss Scruggs to know more about the elements to keep in focus:

IT Asset Management Best Practices: Top 10

I was told once that IT asset management is a process, not a project. Truer words could not be spoken. Yet, I think that many organizations implement IT asset management as a reactive measure to a particular incident. When that issue is resolved, the organizational focus on IT asset management is deprioritized until the next incident. Then the IT Asset Management project starts all over again.

Ask someone in the IT asset management discipline why their company is investing and they will most likely tell you about an event that finally brought the need for IT asset management to the attention of their management. Perhaps it was a failed audit resulting in a big bill from Microsoft or Adobe. Maybe there was a sudden need to apply patches on systems that were spread far and wide to ensure continued credit card processing capabilities (a common Payment Card Industry requirement). Or it might simply have been a security concern, often born out of what many now affectionately refer to as the “Snowden effect” (a need to control access to information or specific devices through the use of external drives.) Any number of reasons may be given, but I haven’t run into many saying they instituted IT Asset Management processes because they thought it was a prudent business practice.

But it should be, shouldn’t it?  The investment in your technology—hardware and software alone—should be worth maintaining and protecting, right?  To that end, I started compiling a list of some of the key things that should always be considered.  Here are my top ten IT asset management best practices:


  • Have an executive champion. Better yet, have more than one. Without an executive champion, most IT asset management (ITAM) initiatives fail or fade away as priorities and budget are shifted. A champion can also help evangelize the value ITAM delivers. Communications with management/understanding the value will keep the project funded.  The project has to drive value…and be able to prove it.


  • Organize your ITAM implementation team thoughtfully and bring them in on the ground floor. If people are handed a process, they may follow blindly. If people are involved in the process, they are invested in it and more likely to help evolve the process over time.

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If you are looking to improve your existing IT asset management system or planning to implement a new one, these could a good starting point to consider. Now that you have a better understanding of what are the best practices to follow, you can design your IT asset  management strategy to match your needs.