What does IT asset management entail?

IT asset management involves a systematic approach to managing an organization's IT assets throughout their lifecycle. This includes planning, acquiring, deploying, supporting, and retiring IT assets efficiently. By adopting such a structured method, organizations can optimize the use of these assets, ensure compliance with licensing agreements, manage costs effectively, and minimize risks associated with asset management.

A systematic approach encompasses maintaining accurate records of assets, monitoring their performance and depreciation, and understanding the impact of these assets on the organization’s overall strategy. This level of organization leads to better decision-making regarding upgrades, replacements, and disposals, ultimately contributing to the organization's goals and compliance requirements.

In contrast, random inventory checks do not provide the necessary depth or structure to effectively manage IT resources. Monitoring employees does not pertain directly to the management of IT assets and is more focused on HR practices than asset management. Limiting management strategies strictly to software management overlooks the breadth of hardware and other IT components that are essential to asset management.