While everyone talks about AI, IoT, and all digital transformation buzzwords, your manager/CEO does not understand why you want to invest in an IT Asset Management strategy. Now, you must explain your reasoning. Well, here are all the ways you can benefit from ITAM. But the number one reason you want to be investing in ITAM before starting any digital transformation is that you need data. What is usually unclear to CEOs or managers is that most modern tech projects require access to data- and a lot of it. ITAM is based on collecting data which is why you need IT Asset Management before AI or other tech projects. Ronald van Loon, one of the Top 10 biggest data influencers, takes it one step further revealing that organizations should be striving to implement a data-driven culture.

THE REALITY

Not many organizations can say they have accurate data- if they have been collecting the right data, to begin with. Other than top management encouraging the collection of information, usually, the IT department holds the most company-related data. For example, they would know how many computers the company owns. A relatively simple number that some cannot determine. However, it can be extremely important when considering budget, company expansion, employee turnover, and even software updates. How does this relate to you? Boardroom projects such as AI or IoT are impacted by factors such as budget and turnover that are usually based on the IT infrastructure.

DATA FACTS

According to The Economist, oil is no longer the most valuable resource but instead, it is data.  Some of the most profitable corporations include Alphabet, Amazon, Apple, Microsoft, and Facebook and they have access to indefinite amounts of data. Finally, as data becomes more relevant, more of your competitors will jump on the bandwagon and collect data. Therefore, collecting data will be your only option to stay competitive.

ACCEPTING REALITY – Before AI

It is quite difficult to take on any projects without the right information. For example, implementing GDPR, any migrations, server integrations would all be a difficult feat without data. Chances are your company already collects data in some way, but the information is scattered, incomprehensible or barely existent. How does a company start putting it all together? For most, the answer is to delegate it to the technological department, IT.

WHY THE ANSWER IS ITAM

ITAM includes collecting information, in one central location; understanding the value of technology owned and used in the company; creating efficiencies in processes to generate increased productivity; and having access to reliable data about the technology in your company. Specific processes include knowing who has what, where it is located, tracking device requests, approval processes and more. You can get a more extensive definition here.

That’s not even the best part!

You can take it a step further and streamline or automate most of these processes with an ITAM tool and save even more time and money. Gartner claims that an organization can experience up to a 30% reduction in costs within the first year of implementation of an IT Asset Management strategy and continue saving between 5-15% for the next 5 years.

In addition, IT professionals are more acquainted with ITAM, its processes, and their benefits. In comparison to new projects that may take new hires or a steep learning curve, ITAM is a necessary step to collecting data that leverages company knowledge.

Conclusion

Data is the basis for starting new tech projects. ITAM helps establishes the proper infrastructure you need to collect the appropriate data. It encourages efficient business practices such as policy-making, process-making and reducing expenditure. Plus, it is in the realm of IT, so you can leverage existing teams to start ITAM with more ease than starting an AI project that may require training employees or hiring new staff.

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