How to use ITAM tools to uncover actionable insights

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ITAM, or Information Technology Asset Management, refers to the practice of managing and optimizing the use of an organization’s technology assets. This can include hardware, software, licenses, and contracts. ITAM tools are designed to help organizations track and manage these assets, and can provide valuable insights into the utilization and efficiency of an organization’s technology infrastructure.

To use ITAM tools to uncover actionable insights, follow these steps:

1. Identify the specific IT assets that you want to track and manage, such as hardware, software, licenses, and contracts.
2. Select an ITAM tool that is appropriate for your organization and meets your needs. There are many different ITAM tools available, so it’s important to choose one that is suitable for your specific needs and requirements.
3. Implement the ITAM tool within your organization, and configure it to track the specific IT assets that you have identified. This may involve inputting data about your assets, such as serial numbers and license keys, as well as establishing processes for tracking and managing these assets over time.
4. Use the ITAM tool to regularly track and monitor your IT assets, and analyze the data to uncover actionable insights. This can include identifying opportunities to optimize the use of your assets, reducing waste and inefficiency, and identifying areas for improvement.
5. Use the insights that you uncover to make informed decisions and take action to improve the management and utilization of your IT assets. This may involve implementing new processes, updating your IT infrastructure, or making other changes to optimize the use of your assets.

Overall, ITAM tools can provide valuable insights into the management and utilization of an organization’s technology assets. By using these tools to track and monitor your assets, you can uncover actionable insights that can help improve the efficiency and effectiveness of your organization’s technology infrastructure.

These insights may include:

Utilization rates

ITAM tools can help organizations track and monitor the utilization of their technology assets, such as the percentage of time that a particular piece of hardware or software is being used. This can help organizations identify opportunities to optimize the use of their assets and reduce waste and inefficiency.

License compliance

Software license management tools, also known as or included in ITAM tools, enable organizations to keep track of and properly utilize their software licenses. By using these tools, organizations can ensure that they are adhering to the terms of their license agreements and avoid potential fines or legal issues resulting from unauthorized software use.

End-of-life planning

By using ITAM tools, organizations can track the lifecycle of their technology assets and identify when they are approaching the end of their useful life. This allows organizations to plan for the replacement of these assets and ensure that they have the necessary resources and budget to transition to new technology smoothly. This can help organizations avoid disruptions and maintain their operations effectively.

Cost savings

Leveraging ITAM tools organizations can identify ways to save money on their technology assets, such as negotiating more favorable pricing on software licenses or hardware purchases. This can help organizations decrease their overall IT expenses and improve their financial performance. These tools can also help organizations make more informed and cost-effective decisions when it comes to managing and procuring technology assets.

Asset inventory

ITAM tools enable organizations to maintain an accurate and current inventory of their technology assets, including important details such as serial numbers, warranty information, and location. This allows organizations to more effectively manage and maintain their assets, ensuring that they are accounted for and properly taken care of. This can help organizations optimize their use of technology resources and improve their overall asset management process.

How can Licenseware help?

Licenseware is the first open app ecosystem for IT Asset Management. It’s a platform where you can find a collection of modular applications that cater to specific business processes within ITAM. Whether the requirement is to manage the risk on a specific product or vendor or a group of products or vendors, users can combine the apps in different ways to get a specific desired outcome.

Gone are the days when the only option is to buy a one-stop solution, even when you only really use a fraction of the functionality. Licenseware allows users to start with as little as one app, to manage a specific risk area and scale based on the success of the initial investment.

Licenseware is data agnostic, meaning you don’t need to implement a new tool for data collection if you already have a SAM, ITAM, or IT monitoring tool in your environment that already has the information you need. Once you’ve identified a compatible tool as the data source, you can export the data or connect via APIs and import it directly into Licenseware for automated analysis. If Licenseware doesn’t support the preferred tool yet, it can be integrated into a matter of days by providing a small data sample.

Licenseware is the ideal tool if seasonality plays a role in your ITAM budgeting. Needs to change over time. Why get locked in when you can go for maximum flexibility?

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