What Is IT Asset Management and How Does It Work?

Organizations manage a vast number of IT assets necessary for proper execution of business processes. Every employee uses computer equipment or mobile devices equipped with licensed software. IT asset management makes it possible to collect information about available equipment and monitor its lifecycle, ensuring proper device functionality, up-to-date systems and data security. What exactly does IT asset management involve, and which tools should companies implement to support this process? Let’s find out.

What Is IT Asset Management?

IT asset management (ITAM) is essential for monitoring the condition of assets within an organization. What is asset management? It is a process that ensures proper oversight of assets at every stage of their lifecycle, covering activities such as deployment, maintenance, accounting and timely decommissioning of worn-out organizational assets.

What are IT assets? The term usually refers to physical goods and may include hardware, systems or various types of software. These assets have a limited lifespan due to deteriorating technical condition caused by use or expiring licenses in the case of software. This makes it necessary to monitor all assets to determine exactly where they are in their lifecycle. Proper IT asset management primarily supports the inventory process within a company and helps optimize asset usage.

IT asset inventory is a legal obligation for every organization. A register of hardware and software in use allows the actual state of devices to be determined. No specific method for conducting inventory is mandated. In smaller firms, manual tracking may be sufficient, but for larger corporations equipped with hundreds or even thousands of assets—computers, phones, systems and licenses—such a task becomes impossible without specialized ITAM software.

What Does the IT Asset Management Process Involve?

IT asset management is a complex process that consists of numerous ongoing and recurring tasks. What types of tasks does it include?

• Inventory.
  Inventory establishes the actual state of devices—the number, type and condition of assets, their location, date and value. This information is also useful for settling responsibility with users who operate the equipment.
• Monitoring.
  Continuous monitoring throughout the lifecycle of IT assets provides constant insight into their condition. It enables early response to events such as approaching license or warranty expiration. Based on the device’s failure history, it is also possible to anticipate upcoming maintenance or replacement needs.
• Servicing.
  This includes all activities aimed at improving the technical condition of equipment, such as repairs, maintenance, upgrades or replacements.
• Planning.
  Collecting data on the actual state of company assets helps determine their lifecycle stages. Based on this, organizations can estimate the budget required to maintain the expected level of resources necessary to deliver IT services consistently—or even at a higher level.

Why Implement an IT Asset Management System?

IT asset management is not only a legal requirement but also enables effective monitoring of hardware and software, ensuring rapid response to changes and increased efficiency of processes. To maximize the benefits of responsible IT asset management, organizations often choose automated tools such as ITAM systems. Why is it worth implementing such a solution?

A single source of reliable information about assets.
Centralized IT asset management eliminates information chaos and structures inventory and monitoring processes. ITAM also reduces the need to involve employees in manual data collection, allowing them to focus on tasks that cannot be automated.

Asset usage optimization.
Continuous monitoring improves the quality of asset utilization. Planning equipment purchases based on real technical condition and maintaining optimal performance through timely servicing directly contribute to financial savings.

Operational continuity.
Managing hardware and software with ITAM ensures that assets are serviced and configured appropriately and that licenses are up to date. Proper oversight prevents issues related to failures or data loss.

Security.
Regular updates of IT assets using Asset Management solutions reduce vulnerability to attacks and malfunctions. This approach is especially important in the context of the NIS2 Directive, which imposes a range of cybersecurity requirements on organizations. Implementing proper IT asset management tools can significantly simplify compliance and improve digital infrastructure protection.

IT Asset Management Tools

ITAM tools effectively support organizations in overseeing the condition of hardware and software. An ITAM system enables automatic retrieval of required information and provides full support for the IT inventory process. The solution supports ITIL processes by helping create an innovative and responsible organization. It is also worth noting that Service Desk systems integrated with ITAM support organizations in managing tickets and incidents efficiently, which is essential for maintaining continuity of operations and ensuring rapid response to technical issues.

Controlling, monitoring and analyzing data related to IT assets using modern ITAM tools is one of the key factors in building a strong, competitive and trustworthy organization.