Tools for IT Asset Management

One of the biggest challenges is managing company assets manually, which can lead to inefficiencies and errors that affect performance and availability. Today, many asset management tools can help automate the process and improve return on investment. Below are some key factors to consider when selecting the right tool.

Before selecting and implementing an IT asset management tool, it’s important to understand the key outcomes it should support. Effective tools should help avoid asset duplication by unifying and streamlining the CMDB process. They should also clearly define ownership and users’ responsibilities for managing asset data across the entire life cycle, from procurement to disposal, to ensure accuracy and eliminate redundancy.

Effective tools should also support software licence management. For example, if an Adobe licence isn’t deactivated when an employee leaves, the company might end up purchasing unnecessary licences. While basic tools can report historical usage, busy IT teams often need live status updates, which require system integration. Advanced tools provide real-time usage tracking, automated feedback and seamless integration to help reallocate unused licences, prevent duplicate records and reduce costs.

Security in ITSM asset management tools is commonly enforced through patch management, ensuring that component updates are regularly assessed and updated. These updates are often delivered through separate modules with agents deployed on end users’ machines as add-ons that integrate with asset management repositories, helping maintain compliance and linking assets to their healthy status in the Configuration Management Database (CMDB).

The workflows should address processes such as disposal or depreciation, including the necessary approval steps from relevant stakeholders. The application should also effectively manage Requests for Change (RFCs). Consideration should be given to approval types in the system and how it can handle different approval methods, such as “two out of three members’ approval,” “all must approve,” or “direct manager approval.” Additionally, it should enforce user access controls to ensure compliance, define user permissions and limitations, and prevent unauthorized modifications to asset data, all while maintaining data integrity and auditability.

Basic tools take time to implement policies as they require manual data collection. Intermediate tools offer some automation and cross-functional support, making policy implementation easier. Advanced tools with AI-driven automation, real-time inventory updates, and financial tracking improve policy outcomes. Policy-based tools are helpful when introducing new asset management policies.

When a new policy allows the movement of physical assets within the company, bulk updates become important. Manually updating many asset attributes can lead to delays or errors. A flexible, integrated tool can handle these changes more quickly and accurately. Example for new policy: any asset with service maintenance costs equal to or greater than 40% of its purchase price will be considered for depreciation or disposal.

The success or failure of selecting the wrong ITSM tool becomes evident if an organization chooses one that requires more effort than expected. Factors such as the number of users, business requirements and the effort needed to address technical debt from asset mismanagement should be considered. It’s also worth looking at official accreditations and online peer reviews regarding the specific tool, which may provide insights into customization and development overhead.

Tools alone can’t fix poor practices. Users need to be aware of the relevant processes and practices. Assets primarily focus on the purchasing process and contractual aspects of physical items. Configuration Items (CIs), on the other hand, are about linking service delivery practices to the purchased assets. The role of CIs is to support operations by creating interactions and logical layers that are involved in service delivery processes, such as incidents, changes or requests.

Managing IT assets manually introduces significant risks, including inefficiencies, increased costs and reduced service availability. To overcome these challenges, organizations should adopt asset management tools that support their business requirements. Key factors to consider when selecting a tool include cost optimization, security and workflow capabilities, policy implementation and scalability. Aligning tools with ITIL operational practices ensures that asset and configuration data are not only accurate but also meaningful in the context of service delivery. Ultimately, successful asset management is not just about having the right tools, it’s about embedding best practices and continuously improving processes across the asset lifecycle.