IT Asset Management: Top 5 Ways ITAM Saves You Money - Provance
Customer Service expectations are growing; people want better service when necessary. But even as customer service expectations rise, IT budgets will stay the same or might even become more squeezed. You’ll be able to get more out of your IT budget knowing which hardware and software is used across your company, who the users are, and matching inventory information to financial and contractual records. A key aspect of an ITAM program is establishing and enforcing ITAM policies and the supporting procedures. These policies can relate to asset acquisition and maintenance processes, standardized configurations, software deployment and usage, and more. The end goal should be to implement a program that optimizes and protects your investment in IT.
Here are 4 money saving benefits from implementing a comprehensive ITAM program.
1. Cut Redundant and Ineffective Spending. With an ITAM program, you will save by eliminating assets that are costing you money and redeploying underutilized licenses and devices. Gartner found that up to 20% of software licensing and hardware maintenance charges are incurred for assets that are no longer in use.IT departments should know the location, configuration and usage history of every single asset to optimize their IT investments and assess returns from their technology investments. For example, before implementing an ITAM program with Provance ITSM some customers would automatically buy requested items because an inventory of available assets was not accessible. With Provance ITSM, a view much like the one shown below can be accessed so available inventory by asset type, location, and other factors can be found easily. This turned into a quick cost savings for the customer when implemented.
2. Negotiate Capacity Better. Careful monitoring of your contract positions and renewal data provides you with increased leverage to negotiate revisions on your terms. By tracking your assets against their governing contracts, you will be able to manage the contract end dates and conditions to negotiate favorable positions and savings before the contracts auto-renew, or trigger end of contract fines.
3. Increase Service Management Effectiveness. Provide your Service Desk with detailed asset configuration information to speed incident resolution (see my other blog post ITSM and ITAM Work Better Together for more information). With easily accessible asset data, your support team will have the ability to leverage available data such as refresh planning dates, ticket history and warranty data to make the best support decision possible.
Detailed configuration data from discovery tools such as Microsoft System Center Configuration Manager can be imported via a Provance out-of-the-box connector so that agents can access this key information easily and use it to best support the end user.
4. Reduce the Risk and Cost of Vendor Software Audits. The frequency of vendor audits is on the rise. The cost of data collection is significant if not anticipated and properly planned, and will be far from ideal if put together under the stress of an audit. Provance ITSM provides the framework to capture the titles under management, the versions purchased, the number of entitlements purchased and either active or expired, and the asset or user to which an entitlement is assigned. With this information at your fingertips, you can avoid potentially massive license compliance fines, take preemptive actions, and cut the significant resource costs in order to work through a software audit.
With the right tools, ITAM can be greatly simplified, from discovery, to tracking, auditing and life cycle management. Check out the Asset Management capabilities of Provance ITSM.