Knowing the value of your assets not only improves the accuracy of your balance sheet, it also allows for better planning when you are renewing your insurance policy, helping you avoid overspending.
IT asset management (information technology asset management, or ITAM) is a set of business practices that combines financial, inventory and contractual functions to optimise spending and support lifecycle management and strategic decision-making within the IT environment.
IT asset management includes a review of current software and hardware used, ensures licensing compliance, and tracks how IT assets are being used and where changes may be needed. An ITAM audit may save you money by identifying software for which you are over licensed or an IT asset you are spending money on, but no longer using.
Lumina Technologies IT Asset Management service provides an accurate and detailed breakdown of your IT infrastructure and its value. With a clear picture of what you’ve spent and what you will need to spend in the future, you will improve the accuracy of your balance sheet.
We will also give you the assurance that you are fully compliant in terms of software licences, as well as ensuring you do not mistakenly continue to pay for a licence you no longer use.
Our records of your assets will include the purchase date, purchase price, warranty expiration and end-of-life dates of all your equipment.
Having this information at our fingertips allows us to accurately report the current value of your assets, your annual capital expenditure, your anticipated budget requirements for equipment replacement, as well as a detailed listing of the assets.
By tracking warranty expiration and end-of-life dates, we will ensure that your warranties are renewed where appropriate and that old equipment can be removed from service when it reaches the end of its useful service. This knowledge will enable you to avoid running hardware for longer than is recommended, lessening the risk of equipment failure because of age, and keeping your systems running.
Our Configuration Management Database (CMDB) is linked to our Service Desk and Infrastructure Management platforms. This means that if a problem or performance issue ever arises, we will be able to see your asset history at a glance, which will be useful in helping us to act more swiftly to resolve the problem.
In addition to IT Asset Management, we will also track your software licences. This is important because it helps us to make sure that you remain compliant with software vendors and avoid any fines and reputational damage potentially resulting from an audit.
Keeping on top of information in this way also allows us to avoid overspending on licensing at the same time as maximising the usage of your existing licences.
IT Asset Management is more than just choosing the best software and devices for your company. Once you have a firm goal-driven IT Asset Management system in place, you’ll see benefits such as: