The Importance of Technology Asset Management in 2020
Published on May 21, 2020,
The New World of Managing your Assets
More importantly, now than ever, a greater understanding of the technology assets responsible for the operation of an organization is needed. Compliance with regulatory and financial requirements demand the knowledge of what assets physically exist, what they are used for, and who has access to them. The speed of business and volume of data processing requires assets are the most appropriate for the workload, positioned optimally, and risk is managed from dependent systems.
Customer/user experience and financial management demand a balance between where workloads are placed and what assets to balance cost and performance. Historical Technology Asset Management (TAM) processes leveraging spreadsheets were inaccurate and 100% a manual and time-consuming effort. New TAM solutions automate the discovery and inventory process, collect hundreds of metadata points, and integrate with other Business Intelligence (BI) systems across the organization such as DCIM, ITSM, and Financial applications.
The Importance of Asset Management During Times of Crisis
Before, during, and after a crisis, asset management is essential to predict risks, maintain operating conditions as normal as possible, and to assess and recover quickly. Before any disruption to operations (planned or unplanned), keeping track of all assets is a routine but commonly a deprioritized discipline. If you are using historical methods to track the assets within the infrastructure, it is a foregone conclusion data is out of date and wrong. When disruption hits, be it the “The Great Recession” of 2008, or the COVID-19 Pandemic, the chances of human resources to respond to service requests are going to minimal. The ability to physically validate equipment, workloads, power, and network connections may be nonexistent.
Good asset management hygiene is essential to understand what is in the infrastructure (hardware and software). You need to know how everything is interconnected and the dependencies each workload has on the infrastructure. Understanding interdependencies is essential so you can assess risks and plan for contingencies. During the disaster, an understanding of the dependencies and availability of resources (servers, power, network connections) allows for rapid mitigation responses and reduced physical interaction with human resources. Post a disaster or catastrophe, having an accurate inventory of assets allows for the quick response to repair, replace, and financially account for loss and recovery costs.
Also, an automated TAM software solution is critical to help maintain control over the security of your infrastructure. Human error and malicious intentions can put your system at risk with fewer eyes to identify unregulated changes. If you are regularly scanning your network for changes, you can identify approved and unapproved modifications and quickly mitigate the risk. Also, automated scans can validate that firmware and software updates are complete and comply with IT operational standards.
Be Better Prepared
“Flexibility and resilience are always going to be key in times of disaster. These qualities need to be built into your technology asset management processes, now more than ever before.” –Information/Age (04/2020). How will you manage best what you have and how to maintain it in these times? Implementing a modern Technology Asset Management software solution
- Automate the discovery and inventorying of all networked technology assets
- Establish a baseline for your assets and continually monitor for changes (Adds, Moves, Deletes)
- Track and validate crucial updates (firmware, security patches) to network devices and servers
- Provide an understanding of your capacity and what assets are delivering what service
- Catalog assets for recommissioning and repurposing
- Ensure IT operational security and compliance standards are being met
Technology Asset Management in today’s world can’t be done without an automated solution. It is necessary to maintain efficient, optimized operations during the best of times and a lifesaver during the worst of times.