The most common and reliable answer is – “Asset Management Software”. sweep up and occupy the priority list. Now that we have an idea about Asset Management, the next question is – “How is Asset Management in IT done?” and “How can an Asset management company help your business?”. Most of the times, Asset Management is labeled as a “waste of time” as more important tasks like product management, accounting, etc. Generally, large-scale and even small-scale businesses, tend to ignore the importance of Asset Management and as a result, suffer financially without even noticing. In simpler terms, Asset Management is done by keeping a track and maintaining a record of whereabouts of a company’s assets (software and hardware, namely). It joins the financial, inventory, contractual and risk management responsibilities to manage the overall lifecycle of these assets including tactical and strategic decision making”. According to the International Association of IT Asset Managers (IAITAM), IT Asset Management (ITAM) is “a set of business practices that incorporate IT assets across the business units within the organization. Īs already mentioned, all the elements of software and hardware in a business are counted as its assets. So the question which pops up is -”What should we do to effectively manage these assets?” The answer to this question is – IT Asset Management Software (ITAM). This mismanagement leads to a huge financial as well as asset loss. In spite of their importance, these software and hardware tend to get ignored in the sense that no proper system is in place to keep a track on them. Leaving the generic level IT organizations, the group of organizations which are worth considering is – companies which provide IT services like IT Desk Supports, Project Management, Onsite Support, etc. Any IT based organization has software and hardware as necessary assets because all the work they do solely depend on them.

IT is helping organizations in each sector to flourish and thrive to impactfully increase their reach. It has its roots engraved in every single industry be it the health industry, or education, or corporate world, it is everywhere! This trend and popularity are absolutely justified because of its varied uses. Technology is thriving, on demand, by each passing day and for all the right reasons.

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