Most ITAM software is designed around asset life cycles, including planning and acquisition, deployment, usage, maintenance or upgrades, and end-of-life decommissioning and retirement. IT equipment and licenses can be expensive, and ITAM is essentially the process of ensuring the IT team and its equipment are managed well and kept within a reasonable budget. It involves a complete and ongoing review of all the assets in a business’s inventory and decisions related to sourcing and use. IT asset management is fundamentally a business management practice. This recording used to be done manually using spreadsheets, but now tools and software programs can simplify this and get the job done faster and with less stress. Whether your business assets take the form of photocopiers and printers, company cars, or computer chairs, these things all need to be recorded as part of the procurement, facilities management, and accounting processes. In recent years, IT asset management (ITAM) has grown to include software licenses and cloud subscriptions, so organizations can gain a complete overview of everything they own or have invested in as part of their IT infrastructure.

Asset management in IT teams is mostly about keeping track of the physical hardware that comprises your infrastructure and keeping tabs on mobile devices and virtual machines.

Lansweeper software end of life