Believe in Better
Organize stewardship over all physical, financial, and contractual data, particularly supplier-related, that account for the biggest part of your IT investment portfolio. Keep the details you need to make evidence-based business decisions, reduce costs dramatically, and increase trust with the rest of your business.
IT assets and services acquired externally - hardware, software, telecommunications, virtual assets, cloud and external services – typically account for roughly 65% of the annual IT spend: the biggest portion of the IT investment portfolio.
IT Asset Management organizations support IT with expertise and management of supply, logistics, external contracting management , vendor administration, back-office delivery support, and asset readiness. ITAM contributes significantly to IT financial management.
ITIL V3 defines asset management processes with configuration management, presumably because configuration items may also be assets. With a deeper analysis, it is clear that ITIL describes mainly configuration management as no specific processes are described in detail to manage assets from the financial and contractual basis.
Use your established, traditional, reactive asset management processes as a foundation to move forward to the cost savings you deserve. Develop proactive management control over IT assets and services acquired externally - hardware, software, telecommunications, virtual assets, cloud and external services. Establish modernized management controls that prevent bad things from happening, like unknown constructive liabilities.
Establish standard procedures upfront for procuring, accessing and monitoring cloud resources and service levels to ensure each business unit only pays for the IT they need and use. Enforce governance and technical standards for more cost reduction.
William Snyder of Gartner, discussing how mature IT asset management programs can evolve beyond base inventory and tracking responsibilities into cross-organizational cost management, wrote that,
“…customers that commit a minimum of 3 percent of their annual operating budgets to ITAM programs and tools can expect a 25 percent reduction in their total cost of ownership …”
Contact ITStreamlined right now to arrange for a free one-hour consultation about how you can streamline your processes and get the savings your organization deserves.