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How to Fund and Equip Your IT Asset Management Program

 

It’s a common lament. You’re the IT asset management champion in your organization, and you find yourself frustrated trying to get a new IT asset management program off the ground, or getting badly needed funding and resourcing for your current program.

Or maybe your program is funded and you need to implement technology to support a new initiative, or bring more efficiency and better process to an existing one. Your challenge is to select the one solution from an overwhelming assortment of products and vendors that will generate the desired result and justify your investment.

Two articles from the first issue of the new IT asset management information series sponsored by Provance® offer many excellent tips on how to improve your funding and recognition, and how to select the right technology to advance your program.

The first hurdle to clear is finding a way to get your program sanctioned and funded. As Gartner® research director Gayla Sullivan notes,

“IT asset managers are struggling to demonstrate and quantify value in order to justify continued executive sponsorship and ongoing investment in IT asset management ITAM.”1

In Demonstrate the Relevance of Your ITAM Program by Using Outcome-Oriented Metrics from Gartner research featured in the newsletter, her recommendation is “IT asset managers must demonstrate and quantify IT asset management program benefits to secure vital resources and ensure ITAM is a valued component of IT. Develop outcome-oriented metrics to quantify the value and ROI delivered to the business through ITAM practices.”2

   
 

Download the complimentary first issue of this IT asset management information series featuring research from Gartner for more about how to fund and equip your IT asset management program

This requires a set of ongoing, monitored ITAM value metrics to build a business case based on hard facts, sound ROI calculations and proven financial benefits. Sullivan offers many excellent suggestions and examples backed by data and facts from the Gartner files. For example, Demonstrate the Relevance of Your ITAM Program by Using Outcome-Oriented Metrics:

  • Walks through four steps IT asset managers should follow to begin measuring and communicating ITAM program benefits;
  • Lists 14 anticipated benefits of ITAM as ranked in importance by Gartner ITAM survey respondents; and,
  • Identifies 10 key metrics to consider that may help demonstrate the value of ITAM disciplines.

With funding and sponsorship in place, the next major challenge is to get your program up and running effectively. A key component in building a successful IT asset management program is selecting and deploying the right technology. The article IT Asset Management: It’s All About Process underscores the importance of software selection and describes what to look for:

“Successful IT asset management programs are supported by effective tools. An effective tool is characterized by its ability to manage financial, contractual and physical data, integrate with adjacent IT management tools and business systems, provide out of the box best practice functionality, and support implementation and automation of IT asset management processes.”3

The article offers helpful suggestions and guidance for selecting a tool to support your IT asset management program, including:

  • Four core capabilities tools must provide in order to support an effective IT asset management program; and,
  • Five important assessment criteria for evaluating IT asset management tools and vendors; and,
  • In addition to “effective tools that provide process support and automation,” the three other components of a successful IT asset management program.

“IT Asset Management: It’s All About Process” and “Demonstrate the Relevance of Your ITAM Program by Using Outcome-Oriented Metrics” from the Gartner files are featured in the complimentary first issue of the new information series, available as a free .pdf document here.

Be sure to download and read issue 1 of the IT asset management information series. You’re sure to find at least one or two nuggets of information to help you fund and equip your IT asset management program.

 @gordwatts 

 

 


1, Demonstrate the Relevance of Your ITAM Program by Using Outcome-Oriented Metrics. Gartner Research. May 2013. 

3    IT Asset Management: It's All About Process. IT Asset Management Information Series, Issue 1. February 2014.

 



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