Segregating Vitamins from Painkillers for IT Asset Management

Segregating Vitamins from Painkillers for IT Asset Management

Capital Markets CIO Outlook | Wednesday, July 04, 2018

To excel in the IT space, businesses should remain proactive and stay abreast of all fresh technologies in the market. Being proactive in IT Asset Management (ITAM) implies that organizations must have a perfect understanding of their assets. Experts term this situation as taking a ‘knowledge vitamin’. Organizations of this kind generally maintain and protect their assets irrespective of current or upcoming risks. On the other hand, in many cases, some organizations possess certain assets, which they have a limited understanding of, and generally tend to protect them when the need arises. Experts refer to this situation as ‘taking painkillers’ to alleviate the issue.

Conducting a business require a lot of positive outlook to excel in the competitive curve. IT professionals have prescribed some ‘vitamins’ for a healthier, cost-efficient, as well as a powerful ITAM platform:

 • Strategizing a business plan for the longer term

It is necessary to outline a project review cycle and abide by it. Experts recommend a year-round review cycle, which allows organizations to evaluate the assets on a strategic basis, rather than taking refuge in last-minute approaches such as audits.

• Checking lock-ins from the vendors

Organizations must make sure that software licenses are examined before installing them. This will help businesses in knowing the terms of the agreement before opting out of a lock-in contract.

• Creating a tight budget control system

Statistics reveal that businesses make use of only 36 percent of software that they pay for. Professionals believe keeping a track on the capital spent on software annually and optimizing their use could reduce costs as well as help in enhancement of productivity.

See Also:

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