Next generation IT asset management is about transforming from a traditional operations focus of tracking asset inventory to one that enables financial insights and enables your IT and business teams to make well informed, service-oriented decisions and to better address software audits. Organizations face many challenges to improving IT asset management such as:
Poor visibility into available hardware assets and software assets. When organizations lack a strong central management solution that spans physical and virtual hardware and software assets, it is likely that available IT assets are underutilized. This may lead to over-purchasing which adds more assets to inventory.
Difficulty in tracking hardware assets and software licenses. IT assets may be omitted from your financial records. Administrating vendor contracts may become more difficult and audit risk may increase. Some contracts which could be modified or cancelled may automatically renew, leading to extra costs.
Assets that could be retired are retained; valuable assets which warrant closer monitoring may receive less scrutiny. This may result in additional tax liabilities, higher management costs and potentially greater compliance risk and fines.