What is Asset Management?
The definition of asset management can vary by industry, but in the IT realm, it refers to making sure that the valuable IT assets in an organization are being tracked and used. An IT asset can be physical hardware, intangible software, or valuable information. IT assets can’t be used indefinitely, so keeping track of these assets and where they’re at in their lifecycle is important for all organizations.
Why Does it Matter?
Hendrith Vanlon Smith Jr, CEO at Mayflower-Plymouth, put it simply: “Every business has to prioritize protecting its assets.”
To maximize the value that can be gotten from an asset, the IT asset lifecycle can be proactively managed. This improves utilization, reduces cost and waste, and boosts productivity without decreasing reliability. Assets are valuable – that's why they’re called assets. Prioritizing asset management and protection can help maximize productivity and drive better business outcomes.
