IT Asset Management and Its Role

IT Asset Management and role it plays

IT Asset Management and Its Role

The IT department forms a major division of an enterprise. IT Asset management plays a crucial strategic role in the profitable functioning of the IT department. Hardware and software form the main two components of this department. Managing hardware and software inventory, their purchases and redistribution is handled by this set of business practices. The two forms of IT Asset Management are below.

Hardware Asset Management

This section deals with managing the physical components of computer devices in the industry, starting from their purchase to disposal. This includes determining the life cycle of hardware components and their disposability, and hence, estimating the requirement of new devices. Industrial processes like approval of purchasing of new hardware, procuring process and life cycle management all comes under this section.

Software Asset Management

In a similar manner, procuring and discarding software like programming language versions, anti-virus versions and licenses are handled under this section. Software asset management is a more frequent process than the previous one, as software upgrades need to be met on a regular basis in the industry.

Role of IT Asset Management

  • Life cycle Management

Life cycle Management deals with determining the life cycle of hardware and software components and when the old ones should be disposed off and new components to be purchased. This is a complex process done with the integration with the management and procurement divisions of the organization. Responsibilities include development of policies and measurements regarding the life cycle of both hardware and software components.

  • Risk Management

This division comes under Life cycle management and involves managing system issues, purchase costs, compliance and business policies. It mainly aims at minimizing risk so that the cost-effectiveness regarding purchases and disposal of hardware and software is maintained.

  • Integrated Software Solutions

In order to integrate itself with the other departments of the organization, the IT Asset Management division has deployed the system of Integrated Software Solutions in order to work with all related departments for functions related to IT assets like procurement, deployment and expense reporting.

  • Software protection

Regarding the protection of software versions in the organization, this department focuses upon organization’s software up gradation with the latest anti-virus protection to detect malware and viruses. Thus, it helps to preserve the software assets of the organization, hence ensuring that the software functionality standards are maintained.