How IT Asset Management can save your business money

IT asset management (ITAM) can save your business both costs and hassle. Business data centers are comprised of a multitude of hardware devices and software systems which need regular, expert support to work at their best.

Well-managed IT infrastructures optimize operations and maximize productivity. This is where ITAM comes in. In this article we will explore what ITAM means, how it benefits your business and how Evernex can support your IT assets.

What is IT Asset Management?

IT Asset Management (ITAM) tracks, controls, supports and optimizes a business’s technological systems and devices. This holistic approach to maximizing the value of hardware throughout its lifecycle also includes making strategic decisions about IT assets, such as when to refresh, update or consolidate.

ITAM maximizes the value of a business’s hardware, minimizes risks and reduces overall IT costs.

 

What IT assets does ITAM cover?

ITAM manages all aspects of a business IT infrastructure, including:

• Hardware
• Software
• Networks
• Licenses
• Cloud infrastructure
• Other IT resources

 

The ITAM process – what does it include?

IT asset management incorporates several steps, covering an asset in every stage of its lifecycle:

ITAM step	What is it?
Inventory	Collecting information about all IT assets in an enterprise and maintaining an updated database.
Reporting	Generating reports on the business’s IT assets, use and costs.
Classification	Categorizing assets according to factors including their type, location and owner.
Optimization	Identifying underused or unnecessary assets to reallocate, optimize or dispose of them.
Asset tracking and monitoring	Consistently monitoring assets for functionality and to identify potential issues.
Maintenance	Inspecting and testing hardware and software, repairing or replacing faulty components.
Software license management	Monitoring software licenses and ensuring compliance with agreements.
Retirement	Securely and responsibly disposing of assets at their true end of life.

What are the types of IT asset management?

As a category, ITAM can include everything from hardware, software, the cloud and other aspects of IT. The following are the main ITAM categories:

Hardware Asset Management

Tracking and managing physical technology assets such as computers, printers, and servers.

Mobile Device Management

Managing and securing mobile devices such as smartphones and laptops.

Network Asset Management

Managing and maintaining network infrastructure such as routers, switches, and firewalls.

Data Center Asset Management

Managing the technology assets in a data center, including servers, storage and networking equipment.

Software Asset Management

Managing software assets including licenses, usage, and compliance.

Cloud Asset Management

Managing and optimizing the use of cloud-based technology resources.

End-of-Life (EOL) Asset Management

Safely disposing of technological assets that have reached the end of their useful life.

Why invest in IT asset management?

ITAM benefits businesses in several ways. These range from reducing the Total Cost of Ownership of its IT systems to making them more efficient.

One of the main advantages of IT asset management is that it prevents avoidable failures. Failures can interrupt productivity by causing downtime, leading to both operational disruption and lost revenue. The April 2025 powercut across Spain and Portugal, for example, cost Spain’s businesses an estimated 1.6 billion euros.

ITAM keeps an enterprise IT infrastructure performing at its best by optimizing its hardware and software, promoting operational efficiency. Here are just a few more reasons businesses invest in a strong ITAM strategy:

• Aligns technology investments with business goals
• Improved cost efficiency by reducing overspending on IT resources.
• Enhanced risk management through better tracking and management of technology assets.
• Better decision making through access to accurate and up-to-date technology asset information.
• Better asset utilization and ROI through more effective resource planning.
• Increased security through better control and management of technology assets.
• Improved compliance with environmental and privacy regulations, as well as software licensing agreements.
• Environmentally responsible technology use and disposal through effective end-of-life asset management.
• Improved IT service delivery through optimized use of technology assets.
• Increased transparency and accountability through a comprehensive and accurate view of technology assets.

IT costs companies often experience

IT costs do not stop at just buying hardware or programs. Businesses face a range of IT costs, from replacements and emergency repairs to license renewals and lost income. Here are some of the main costs business IT departments experience:

1. Downtime leading to lost productivity
2. Replacing damaged or faulty hardware
3. Slow performance impeding business operations
4. Licensing issues
5. Hidden costs of OEM support and maintenance contracts
6. Over-purchasing due to lack of asset visibility
7. Non-compliance fines or audit risks
8. Disposal and end-of-life inefficiencies

The financial benefits of ITAM

Taking all the above costs into account, business IT systems can present a considerable expense to a company. This is especially true when the infrastructure is poorly managed. However, robust IT asset management can save costs on multiple fronts. This means that your business can save funds or reassign the capital to other projects.

Here are the main ways ITAM can financially benefit your business:

• Maintaining hardware in good condition avoids the CAPEX of replacing damaged hardware.
• Compliance with licensing contracts and regulations avoids fines or complications.
• Risk management addresses potential issues, such as security vulnerabilities, avoiding costs and reputational damage later on.
• Lower TCO through smart redeployment and reuse, avoiding overbuying.
• Transparent budgeting and lifecycle forecasting helps businesses plan for the future.
• Resource optimization means that each asset in your business makes the most of its abilities, maximizing overall performance. This consolidates workloads and avoids buying more hardware than necessary.

IT asset management best practices

ITAM best practices include the following:

1. Defining an ITAM strategy and governance structure.
2. Using data and analytics to inform decision making and measuring the effectiveness of ITAM initiatives.
3. Keeping an accurate and up-to-date inventory of all IT assets.
4. Automating as much of the ITAM process as possible to save time and reduce the risk of human error. This includes leveraging tools to track, monitor, and control assets.
5. Continuously reviewing and improving the ITAM process to keep pace with changing technology.
6. Regularly reviewing and updating software licenses to ensure compliance.
7. Incorporating ITAM into overall IT and business planning processes.
8. Establishing procedures for retiring end-of-life assets securely.
9. Fostering a culture of responsible technology use within the organization.

Evernex and IMACD

Evernex offers a comprehensive range of IT asset management services for enterprise data centers. Our services ensure your IT devices are secure, functional and high-performing in every stage of its lifecycle. We support all aspects of IT infrastructure hardware, from servers and storage to power supplies and cooling systems.

Evernex’s business model is built on maximizing the use of existing products and materials through repair, reuse and recycling, with end-to-end IT asset lifecycle management. We also prioritze environmental responsibility in our operations, from lifecycle extension to using certified and tested refurbished spare parts for replacements. This helps your business reach its sustainability goals and reduce its environmental footprint, while saving costs.

Companies across the world trust Evernex to support, optimize and manage their IT infrastructures. We refer to our IT lifecycle management services as IMACD (Install, Move, Add, Change, Disposal):

Step	Explanation
Install	We take care of the installation and deployment of your business’s new IT asset.
Move	We provide transport for your data center hardware, from individual devices to entire infrastructures.
Add	We help your business to acquire new assets when required and manage your IT licences.
Change	Our hardware asset management services include optimizations, upgrades, repairs and part-replacements of assets.
Disposal	We securely and responsibly dismantle your unwanted or end-of-life hardware assets, recycling and refurbishing all possible components.

What else does Evernex offer?

Other benefits of partnering with Evernex for your IT Asset Management needs include our:

• Tested and certified refurbished spare parts inventory, reducing costs and environmental impact.
• Expert maintenance, including inspections, repairs and replacements.
• Multi-model, multi-brand experience. This provides you with a convenient single point of contact for your various data center devices and systems.
• Global reach, with a presence in over 165 countries and 330 stockage facilities.
• Sustainable IT practices through component reuse, lifecycle extension and responsible recycling.
• Customizable, cost-effective Service-Level Agreements, so you only pay for the services you use.
• 24/7 technical support availability, for when the unexpected happens.

To boost productivity and income, and reduce unnecessary IT expenses, a strong IT Asset Management strategy is key. Your best bet for affordable, expert ITAM is to contact a reliable provider such as Evernex.