Developing an IT asset management program is no small task. It requires a significant amount of investment, time and dedication, so some organizations may be intimidated to begin or have trouble getting funding from management. Here we will provide a short outline of the top five ways to justify an investment in ITAM and see ROI.
1. Control lifecycle costs.
An ITAM program can help your organization control and avoid certain costs associated with investments in IT assets, such as license, maintenance and other costs paid to external parties.
2. License compliance.
SAM in particular, with license compliance being a part of it, helps you to ensure your organization is in compliance with license agreements. The compliance risk is driven by organizations who can charge hefty fines if they see you are out of compliance during an audit.
3. Support business functions.
This includes both IT and non-IT functions. Proper ITAM provides data useful to other organizational functions such as IT planning, budgeting and change management. As for non-IT functions, finance, procurement and contract management are supported by ITAM, which facilitates the decisions in these areas in a proactive way.
4. Add value.
ITAM can extract additional value from what is spent on IT assets. Improving the use of an asset, exploiting an asset’s capability and redeploying under-utilized assets are examples.
5. Reduce risks.
Besides costs, some additional risks mitigated by ITAM are contract, regulatory and legislative risks. Additionally, asset tracking from ITAM is necessary in securing assets to reduce cyber security risks.
All in all, IT asset management has benefits that go far beyond just audit defense. Many organization are not aware of how much money they can actually save with an ITAM program, as well as the additional value and maximized ROI it brings. For your reference, there is an infographic below reiterating these points – feel free to print it out and show it to your management if they need some convincing!
Struggling to get ITAM investment? Download and share this infographic with your management.