What is IT asset management? a complete guide

Some IT departments run a bit like the one in The IT Crowd. It's full of extremely intelligent people, but it might become a little chaotic when tracking who has what and where everything is located. IT assets are the foundation of your business, from the laptops powering day-to-day work to the software and systems behind the scenes. However, managing them can sometimes feel like trying to locate Jen’s missing internet box in a very large office.

That is where IT asset management comes in. ITAM improves customer and employee experiences by giving you a clear, strategic view of your company’s technology. It helps you understand what you have, where it is, how it is being used, and what needs attention. For IT and employee support teams, that means fewer disruptions, faster service, and better tools in the hands of the people who need them.

In this guide, we will break down what ITAM is, why it matters, and how you can use it to drive smarter decisions across your organisation.

More in this guide:

• What are the benefits of ITAM?
• What are the types of ITAM?
• Key ITAM processes
• What is an IT asset management database?
• How to bring ITAM to your operations
• Frequently asked questions
• Power up your ITAM strategy with Zendesk

What are the benefits of ITAM?

Implementing an ITAM strategy is not just about tracking stock. It is about driving value across your business. The primary goals of IT asset management are to improve operational efficiency, reduce downtime, manage risk, increase compliance, and boost data security. Here’s a closer look at how ITAM helps you meet these goals.

Improved efficiency

ITAM ensures your team has the right tools at the right time, streamlines workflows, reduces manual tasks, and minimises disruptions, boosting employee satisfaction and productivity. Instead of digging through spreadsheets to locate a device or licence, teams can quickly assign equipment, process requests, and manage updates.

Suppose an employee requires a new laptop. With ITAM, the process from request to deployment is clear and repeatable, enabling employee self-service for common asset needs with streamlined, predictable workflows when the requests come through. This is the inefficiency ITAM eliminates, leading to faster response times and a better Employee Experience.

Reduced downtime

Have you tried turning it off and on again?

When you know which devices are ageing or underperforming, you can replace or repair them before they fail. You can also spot Software issues, such as licensing gaps or expired tools, before they disrupt workflows. ITAM helps you move from reactive problem-solving to proactive support.

Enhanced compliance and risk management

Keeping track of licences and contracts can be tricky, especially at scale. With ITAM, you have documentation ready for audits, visibility into licence usage, and tools to flag non-compliance early. It also helps teams respond quickly to risks, including software vulnerabilities or hardware recalls.

Enhanced data security

ITAM helps IT teams avoid threats by showing what is on the network and who uses it. This makes it easier to detect unauthorised devices, ensure software is patched, and manage asset access. Visibility is essential for preventing breaches and protecting your IT assets and company data.

What are the types of ITAM assets?

ITAM includes a wide range of assets across three main categories: hardware, Software, and cloud or digital. Let's take a closer look at each of these ITAM types. 

Hardware

Hardware includes desktops, laptops, servers, routers, and mobile devices. Managing hardware involves tracking purchases, assigning devices to users, maintaining them, and securely retiring them at the end of their lifecycle.

Software

This includes everything from productivity suites to bespoke applications. Software asset management (SAM), a key part of ITAM, helps teams monitor usage, manage licences, avoid over-purchasing, and stay compliant with vendor terms.

Cloud or digital assets

Cloud services such as SaaS, IaaS, and PaaS tools are also part of ITAM. These assets are dynamic and often subscription-based, so tracking usage, optimising spending, and ensuring they meet security standards is important.

Cloud asset management involves monitoring usage, optimising spending, and ensuring SaaS customer support is secure and effective. These tools often play a central role in the Employee Experience journey mapping process by helping teams track and improve the digital touchpoints that matter most to staff.

Key ITAM processes

ITAM is an ongoing process rather than a one-off project. A strong strategy manages assets across their entire lifecycle, from acquisition to secure retirement.

Here are the core processes:

• Inventory and discovery: Build a complete, up-to-date record of your IT assets. You can do this manually, but most organisations use automated tools to make it easier and more accurate.
• Procurement and deployment: Acquire the right assets for your team, configure them, assign them to users, and track where they’re located and how they’re being used.
• Maintenance and monitoring: Track performance, usage, and health. Schedule updates and repairs as needed.
• Lifecycle management: Based on asset age and performance, plan ahead for upgrades or replacements. This helps avoid disruptions and ensures employees always have the tools they need.
• Financial tracking: Monitor total cost of ownership (TCO) of each asset, including purchase price, maintenance, support, and disposal.
• Retirement and disposal: When it’s time to retire an asset, decommission it securely. That includes wiping data and disposing of equipment to meet data privacy and environmental standards.

What is an IT asset management database?

An ITAM database, often part of a broader configuration management database (CMDB), is where all asset information is stored. It serves as a single source of truth for tracking and managing every piece of IT equipment and software. Most databases organise asset data into three core categories:

• Physical data: Includes location, type, assigned user, status, and other logistical details.
• Financial data: Includes purchase date, cost, vendor, depreciation, and budget alignment.
• Contractual data: Includes licensing terms, service level agreements (SLAs), warranties, and renewal timelines.

This structured approach helps IT teams organise assets, make informed decisions, and stay prepared for audits. Think of it as the ultimate black book for every piece of tech, far more reliable than anything Roy or Moss from the IT Crowd show might scribble on a whiteboard.

How to bring ITAM to your operations

Rolling out ITAM doesn’t have to be complicated. Here is a simple framework to help you get started:

• Set clear goals: Decide what you want to achieve. This could be anything from cutting software costs, improving compliance, or streamlining onboarding to reducing employee turnover. Start with a specific focus and expand your efforts over time.
• Choose the right tools: Spreadsheets might work temporarily, but dedicated ITAM Software offers automation, reporting, and real-time insight. Look for tools that integrate with your service desk, HR help desk, and procurement platforms to get a complete view of your assets.
• Monitor and optimise: ITAM is not a set-it-and-forget-it system. Regularly review usage, reassign underused assets, plan upgrades, and improve your process based on real-time data.

Frequently asked questions

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Power up your ITAM strategy with Zendesk

ITAM is not just about keeping tabs on hardware. It is about creating a seamless experience for employees and reducing complexity for your IT department. When integrated with your IT service desk, a strong ITAM strategy gives support agents the context they need to deliver faster, smarter service.

At Zendesk, we partner with leading ITAM platforms that work seamlessly with your existing tools. This allows you to centralise asset data, improve response times, and gain complete visibility into your IT environment.