Unlocking Value: A Small Business Guide to IT Asset Management (ITAM)
It’s a known narrative that small businesses have to do the impossible: more with less. In a world where technology is the driving force in the business landscape, that can be dangerous. It can mean things are overlooked or, worse yet, never addressed. That’s where IT Asset Management (ITAM) can be an invaluable piece of your organization’s infrastructure.
ITAM helps small businesses regain control over IT costs, security, and compliance. Any business seeking to maximize its IT investment should consider adopting ITAM. It helps build scalable IT solutions through asset management strategies.
Understanding the Role of ITAM in Small Business
Some organizations may not fully understand the benefits ITAM can provide to them. It offers a structured way to track and manage technology assets through their lifecycle. Assets can be anything from network devices to software licenses and vendor-provided services.
Many small businesses operate without an ITAM framework. Unfortunately, this exposes them to potential issues like duplicate purchases, unused subscriptions, compliance risks, and security vulnerabilities.
ITAM Adds Value
The value of ITAM is its ability to promote a proactive approach to IT decision-making. For instance, knowing when hardware is nearing the end of its life allows organizations to make planned purchases before the equipment fails. Another example is that having an accurate count of software licenses can help the organization avoid paying for unused licenses. This proactive approach limits overhead and allows for better planning for IT expenses and equipment upgrades.
As the landscape of IT continues to move to subscription-based services and remote work tools, organizations fail to realize they are overpaying through duplicate license purchases and installed applications. ITAM offers a clear insight into costs and offers a simple framework to determine what is needed and what isn’t.
Lifecycle Management
Asset management is tied to the lifecycle of each device. This doesn’t mean purchasing stops. It merely means it can be better planned, and deployments can be better organized. Knowing when assets were acquired, which user has access to them, and the warranty status all contribute to knowing when they need to be decommissioned and removed from the environment.
This ensures that your organization is never blindsided by unforeseen expenditures. Understanding each device in an organization’s landscape offers a brilliant insight into where potential security risks might be and what patches might need to be applied.
ITAM and Cybersecurity
Security and ITAM are interdependent. When unmanaged devices remain on the network, outdated software could be providing an entry point for cyberattacks. When IT departments are unaware of these assets, it is difficult to develop an appropriate security policy that offers true protection.
When small businesses manage their assets effectively, it is easier to make data-informed decisions about potential unauthorized devices and ensure that all software used is up to date. This is particularly important to those organizations that could face significant penalties for failing to comply and properly secure sensitive data.
ITAM and the Cloud
While cloud computing has revolutionized the way organizations are able to operate, it has also added a layer of complexity to asset management.
There are far more moving parts to a cloud-based environment than a traditional one. There are subscriptions, virtual machines, and SaaS platforms residing in most IT environments of today. Another issue is that many of these resources exist beyond what is considered a traditional asset inventory.
It is essential for ITAM processes to evolve with your organization and the general IT climate. Merely having a list of physical devices is no longer adequate. Organizations now need to monitor virtual assets and manage user accounts. They need to watch subscription costs and usage. Partnering with an IT services provider ensures your organization will be optimized, no matter how complex the environment.
Getting Started
Many businesses might dread the idea of implementing a new framework. While it might seem daunting, organizations should understand that there is no need for high-priced tools to get started.
The first step is to compile a complete inventory of all IT assets. This will allow IT staff to create basic processes to describe how assets are acquired, assigned, maintained, and disposed of after their lifecycle.
Listen to the Experts
The business world of today can be incredibly competitive, which is why it is important for small businesses to get a high return on their technology investment. ITAM is a sound way to do that. It provides control and boosts security, all while lowering costs and creating a map of future IT needs.
By investing in a structured ITAM strategy today, you set your business up for greater agility and resilience tomorrow. Don’t let unmanaged IT assets slow you down. Contact Unbound Digital to build a smarter, safer, and more efficient technology environment that grows with your business.