IT asset management workflow

IT asset management (ITAM) involves a set of best practices and processes to ensure that an organization’s assets are tracked, deployed, maintained, upgraded and disposed of at the right time in its lifecycle. ‘IT assets’ refer to hardware, software and data that are valuable to a company. Different approaches to IT asset management typically focus on a specific component: hardware, software, cloud and mobile.

An ITAM workflow focuses on digitizing all asset management tasks so that operators and users can manage all of their assets and IT processes in a single platform. Through an ITAM workflow, an organization can track, manage and optimize all the hardware and software involved in their operations.

ITAM workflow usually includes the following tasks:

• Discovery and inventory: Identifying and organizing all IT assets
• Tracking and reporting: Tracking the location, status and ownership of all identified assets (through tools like IoT asset tracking software)
• Maintenance and support: Maintaining assets so that they work as expected during their lifecycle
• Disposal and retirement: Safely disposing of assets after their lifecycle
• Compliance: Verifying that the organization’s use of assets is compliant with legal and regulatory requirements

A business’s ITAM workflow may be unique to its operations. But, generally, here are the common steps involved:

Request

An ITAM workflow often starts with a request for the specific asset needed. This often comes from a user that will require certain hardware or software to carry out their tasks. It’s important to enforce a proper process for this stage so that the requests align with the company’s IT plans and budget.

Acquisition and registration

Once the request for an asset is approved, the organization acquires it. At this step, the company needs to register the asset to its entire ecosystem so that it can identify its role and adjust the total cost ownership of all assets.

Tracking

After registration, companies should actively track their assets: their location, ownership and use. It’s also important to take note of its lifecycle so that expectations can be set for its overall deployment.

Deployment

Once the asset is acquired and tracked, it can now be deployed for its purpose. The user who requested the hardware or software should take responsibility for it; it would be good for them to undergo training on best practices for the asset’s use.

Maintenance

At some point in the asset’s lifecycle, it may experience problems. In these cases, maintenance and support should be readily available to get it back in tip-top shape. Any fixes or adjustments should be tracked, as well.

Disposal

Once an asset has been maximized, it’s time to dispose of it. At this step, it’s crucial to identify the performance of the asset, including its cost-effectivity and efficiency. This will inform the next steps, such as whether or not the asset can be replaced or must be upgraded.

ITAM workflows are a great start to managing your company’s technological assets. But this task can get complicated and overwhelming without the proper tools. Flexera One is designed to make the process more manageable. Learn how it can help your organization today!