IT Governance

4 Ways IT Can Improve Asset Management

Hip new stuff like the Internet of Things is important to IT, but old stuff like asset management is still important too. The traditional approach to asset management looks at hardware and software, whereas the “modern” approach also considers assets in the cloud. In either case, accuracy and oversight are important. In an article for InformationWeek, Mary Shacklett shares four tips for better asset management:

  1. Implement asset management software for the traditional assets.
  2. Assign responsibility for managing corporate IT assets to a specific person.
  3. Asset management should be an integral part of IT budget planning and execution.
  4. Periodically take manual inventory of your physical and cloud-based assets.

Assets Physical and Beyond

Having asset management software is step one in all cases. It is just too convenient not to use. But there will be times when a manual count is required anyway, such as for times where a technology was independently bought by another business area. Maybe do an annual manual audit to account for these outliers.

One person should be assigned overall management of IT assets. Shacklett warns against having different people share this responsibility across different IT functions, because it begets confusion. It is too easy for different versions of the accounting to collide and create a mess.

About asset management’s role in the IT budget, Shacklett writes this:

Hardware and software should be aged against their life cycles and targeted for replacement at end of life. At the same time, maintenance contracts and licensing agreements should be terminated. Assets in the cloud should be placed on similar “aging” timelines because end of life points for contracts and/or software/hardware in the cloud could indicate a need to renegotiate or terminate service contracts before they auto-renew.

For further thoughts, you can view the original article here: https://www.informationweek.com/how-it-can-improve-asset-management-/a/d-id/1330718

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