IT Asset Management (ITAM) includes key applications and capabilities to manage software licenses and hardware assets and is essential for any organization that wants to manage IT assets properly. ServiceNow ITAM is a trusted and proven system that integrates financial, technical, and service management functions into business decision making so that organizations can better balance spending and manage IT assets over the lifecycle of both software and hardware. Overall, ServiceNow ITAM can save businesses money, time, and effort through asset management, software asset management, and configuration management.
Asset Management – Track lifecycle costs, utilization, and contracts for hardware, virtual, and consumable assets.
With ServiceNow Asset management, an organization gains knowledge and control over all assets by optimizing lifecycle investments. Companies can track the cost of assets across the lifecycle to estimate the total cost of owning an asset. Asset management can reduce costs by automating asset lifecycle processes and eliminating wasted resources that go underutilized. By automating lifecycle processes, ServiceNow ITAM can help organizations enforce asset policies that are supported by regulatory bodies and thus mitigate risks by complying with hardware contracts. Through asset audit management, the audit process is simplified and strengthened. Assets are less likely to be lost or misplaced and the assets that are consumed will be replaced on time through automated request, fulfillment, and ordering processes for maximum efficiency.
Software Asset Management – Modernize software asset tracking to reduce spending, mitigate risk, and take action across IT.
ServiceNow ITAM includes software asset management which allows businesses to create intuitive software data workflows that enable employees to utilize platforms already in place but allow for cross-functionality. Not only does this software asset tracking reduce software spending, but it also reduces risk. Software spending can be cut by finding underutilized software assets, discovering overlapping or redundant software, and optimizing software licenses. A business risk can be mitigated by managing software assets throughout the lifecycle and deploying software vulnerability assessments as well as license change projections. Action can then be taken sooner on unlicensed deployments.
Configuration Management Database (CMDB) – Connect all your asset data to take actionable steps throughout the full IT lifecycle.
The benefits of ServiceNow ITAM is understanding your IT environment to make smarter decisions and have more control over assets. To fully understand the IT environment and effectively manage assets, businesses need a configuration management database (CMDB). CMDB creates a single system for all IT records and allows for visibility into infrastructure and services. Instead of using multiple platforms, ServiceNow ITAM CMDB makes management smooth by merging capabilities onto a single platform that contains the records for all critical processes of a business. Due to this consolidation and the use of a single data model, businesses are better able to visualize vast and complex data through graphical models and data maps, and detailed reports. Clear presentation of the IT infrastructure and service relationships helps businesses understand risks and make smarter decisions.