How to Get Started With Information Asset Management

As external cloud services, IT/OT convergence, the Internet of Things and digital business continue to increase, IT leaders have less purview over the technology assets that determine business outcomes. This continuously changing environment introduces an increasing variety of technologies and proliferation of assets to be managed.

“The increasing demands of digital business challenge sourcing, procurement and vendor management leaders responsible for IT asset management (ITAM) to implement and maintain a mature strategy for better governance, efficiency and business outcomes,” says Pamela Wheelwright, Senior Director Analyst, Gartner. “Most organizations do not have a formal ITAM program but recognize the need to implement one in support of their digital business objectives.”

Advance ITAM strategy or fail to deliver effective technology asset governance

The first step is to assess the current strategy to understand how much change is required to address the continuously changing environment. Gartner suggests using an asset management strategy checklist:

1. Does your asset strategy reflect your organization’s business objectives?
2. Are the enterprise leaders convinced that asset management is good for business?
3. Is the entire life cycle of every asset fully considered in your strategy?
4. Are resources being optimized to manage your entire asset portfolio?
5. Are decisions to capitalize, maintain or dispose driven by asset data?
6. Does asset data power operational and financial management systems?
7. Are asset risks and impacts on business performance assessed?

“ITAM teams should shift to a methodology that incorporates ITAM policies and processes, and identifies technology assets to be managed based on business priorities, outputs, actions and outcomes,” says Wheelwright. “Business outcomes must be defined in the ITAM charter and decided by senior leadership based on strategic priorities. The charter will guide the strategy throughout the ITAM life cycle.”