3 Ways to Drive Better Decisions with ITAM Solutions

Share on linkedin
Share on facebook
Share on twitter
Better decision making with ITAM solutions

Companies expect their IT departments to provide a set of systems and services to enable business agility, ensure robust user experiences, and manage technology assets for their organization using comprehensive IT asset tools.

That is a tall order, especially for a function that is also under intense pressure to manage operational costs. For IT leaders, the completeness and accuracy of IT Asset Management (ITAM) data has a big impact on whether they will be able to achieve  the department’s objectives.

For those of you who aren’t familiar with ITAM, it keeps track of a company’s technology assets, so leaders can make better decisions. In this article, we shed light on three ways you can empower your IT environment with ITAM tools:

1. IT Asset Tools: Managing Costs and Risk

Managing operating costs and managing technology risks are two of the most common challenges IT leaders face. As assets age, they require more maintenance, patching, and upgrades to remain stable and secure. Eventually, newer devices with higher capacity density, processing power, and modern features must replace the assets.

ITAM tools provide companies with the means to track the IT asset management lifecycle to understand and predict when maintenance activities are needed. They also project cost vs. benefit to determine when they should replace an IT asset that has exceeded its useful life.

Security and technology risk is also a big concern for IT leaders. With the proliferation of third party components in the IT environment, and the increase in malicious activity such as hacking, it is important companies understand their security risk exposure and the status of patching activities to remediate vulnerabilities.

IT asset management data serves as the master inventory of  devices and services installed in your IT environment. This data is linked to configuration data and threat data from your governance, risk and compliance system to provide leaders with a big-picture view of what you have and where action is needed.

(See, “IT Asset Management is more than just lists of data”)

2. Addressing Performance Constraints

The old adage, “a chain is only as strong as its weakest link,” is very applicable to IT environments. Most IT services  comprise  a complex set of components and dependencies such as software, hardware, storage,, etc. This is known as the service’s dependency chain.

With most resources and assets shared across multiple services, it is not uncommon for some components to become overloaded, slowing performance, and limiting capacity of  services that depend on them.

IT asset tools combined with configuration and performance monitoring data helps leaders see capacity utilization and understand what resources in their environments are constraining the delivery of services to end-users.

This insight enables them to make informed decisions about where to add capacity and/or upgrade components to have the greatest positive impact on end-user experiences.

3. Enabling Agility

Companies are constantly evolving and their needs for technology and information are constantly shifting as well. Business agility requires IT environments to be agile too. Modern technology includes features that make it easier to support frequent change and manage  operations of systems in the IT environment.

Many organizations struggle with “technical debt,” or the legacy components, configurations, and implementations that impede the ability to change easily and adopt new features. The asset portfolio is part of ITAM and provides critical information about what legacy components are present, so their replacement/upgrade can be planned.

IT leaders have a tough job balancing the growth and agility needs of the business, demand for new/modern features, and the mandate to control costs and risks.

High-quality IT asset management data,  efficient tools to keep it current and make it accessible for analysis, and decision-making are essential to enable informed IT decision-making.

Virima: Your IT Industry Partner

Virima is an industry leader in ITAM and ITSM solutions, providing discovery, configuration management, and ITSM solutions that allow IT staff to take control of their IT asset management data and enable leaders to make better decisions.

Virima features can automatically discover and map your critical IT resources and the interconnections that link them to one another, your applications and services, and your users.

Virima is here to help. To get started, contact us today to schedule a demo and explore the possibilities!

Share on linkedin
Share on facebook
Share on twitter

Subscribe to Our Newsletter

More to Explore

A digital certificate (which goes by many names such as SSL Certificate, Public Key Certificate, Identity Certificate) is used to provide a valid form of identification to applications, servers, devices or any other network components, by which people and machines…

In any kind of system, a vulnerability points to a “state of being exposed to the possibility of attack or harm.” In the age of information, we have - by the very nature of the way we share, store and…

IT Operations Management (ITOM) refers to the administration of technology and application requirements within an IT organization. Under the ITIL framework, ITOM’s objective is to monitor, control, and execute the routine tasks necessary to support an organization’s IT infrastructure.(Also, see…

CMDB service maps are visual depictions of hierarchical relationships among business services (sometimes also major applications) and their supporting Configuration Items (CIs). Because service maps can provide an instant bird’s eye view of critical dependencies and relationships, their utility lies…

Understanding the Configuration Management Database (CMDB) and its core functions is a critical aspect of service management. The CMDB forms the hub of numerous service management practices and provides a means of correlation needed to deliver business services successfully.   The…

Introduction  IT Asset Management (ITAM) and inventory management are both useful practices that can benefit any organization using IT. Both of these practices are concerned with the management of IT assets but focus on different things. Inventory management can exist…

IT Asset Management (ITAM) and configuration management are both useful practices that can benefit any organization using IT. Both of these practices are concerned with the management of IT assets, but focus on different things.Configuration management can exist without IT…

Some people think that an IT service desk is the same thing as an IT help desk. It isn't, as I'm going to explain. Sure, there are some similarities, but there are also many differences. Let's start by exploring what…

To understand the business value of service mapping, it’s important to shift to a service delivery mindset, rather than thinking about delivering infrastructure, equipment, software, and applications. Defining services is relatively simple if thought of as the commoditization of what’s…

Business service mapping – the area of configuration management that perplexes so many IT professionals, yet that which provides the highest value in Configuration Management Database (CMDB) projects. There are several major reasons IT gets stopped when it comes to…