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Managing the care, custody and control of all IT assets within the organization is just as important as the book keeping for the inventory off all furniture, production machinery, and company vehicles.

IT Asset Management encompasses the IT Planning, IT Expenditure Budgeting, Project Management, Asset Tracking, and the replacement of software and computer equipment. Without an effective plan, assets can cost more than necessary.

The IT Asset Management function is the primary point of accountability for the life-cycle management of information technology assets throughout the organization. Included in this responsibility are development and maintenance of policies, standards, processes, systems and measurements that enable the organization to manage the IT Asset Portfolio with respect to risk, cost, control, IT Governance, compliance and business performance objectives as established by the business.

IT Asset Management uses integrated software solutions that works with all departments that are involved in the procurement, deployment, management and expense reporting of IT assets.

ITAM business practicies have a common set of goals:

• Uncover savings through process improvement and support for strategic decision making
• Gain control of the inventory
• Increase accountability to ensure compliance
• Enhance performance of assets and the lifecycle management

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