Why is IT Asset Management (ITAM) critical for organizations?

ITAM enables organizations to track and manage IT assets, ensure compliance with licensing and regulatory requirements, and streamline processes for greater efficiency. It helps reduce the risk of penalties and achieve significant cost savings. Ultimately, ITAM maximizes the value of IT investments and supports key business objectives.

What are the key components of an effective ITAM strategy?

An effective ITAM strategy involves maintaining an up-to-date asset inventory, managing the full asset lifecycle, being compliant with licenses and regulations, optimizing costs, establishing clear policies and procedures, and promoting employee training and awareness.

How does ITAM differ from SAM?

IT Asset Management (ITAM) involves managing all organizational assets—hardware, software, licenses, and even non-IT assets—throughout their lifecycle. Software Asset Management (SAM), a subset of ITAM, focuses on tracking software licenses, ensuring compliance, managing installations, and optimizing usage. Together, they enable efficient asset utilization and risk mitigation.

Can ITAM help organizations reduce costs?

Yes, ITAM helps reduce costs by optimizing existing resources, avoiding over-purchasing, and enabling compliance to prevent penalties and unnecessary license buys. It supports accurate budgeting, avoids maintenance on unused assets, and enables better vendor negotiations. Overall, ITAM improves financial planning and resource allocation.

How does ITAM contribute to cybersecurity efforts?

ITAM supports cybersecurity by identifying high-risk and critical assets, enabling timely patch management to reduce vulnerabilities, and enhancing incident response through accurate asset inventories. It also integrates with security tools like Security information and event management to provide a comprehensive security view. Overall, ITAM strengthens risk management and threat mitigation efforts.

How does ITAM integrate with existing IT Service Management (ITSM) tools?

ITAM integrates with ITSM tools by feeding asset data into the Configuration Management Database (CMDB), supporting change, incident, and service request management, and enabling automation of asset-related workflows. It enhances reporting, improves service delivery, and enables proper user access controls. This integration streamlines IT operations and boosts overall efficiency.

What services are typically offered in ITAM solutions?

ITAM solutions offer services like asset discovery, lifecycle and software license management, cost optimization, compliance tracking, reporting, vendor management, and sustainable disposal. These services help maximize IT investment value, reduce risks, and enhance operational efficiency.

IT Asset Management (ITAM)

IT Asset Management (ITAM) is a systematic approach to managing an organization's IT assets throughout their lifecycle. This includes planning, acquiring, deploying, maintaining, and disposing of hardware and software assets. The primary goal of ITAM is to optimize the use of IT resources, reduce costs, and uphold compliance with licensing agreements and regulations.

Connect with us

Driving efficiency with intelligent IT Asset Management

Explore how modern IT Asset Management (ITAM) solutions enhance visibility, reduce costs, and drive compliance across the asset lifecycle. This video highlights EY's approach to transforming ITAM through automation and data-driven insights.

EY’s ITAM service offerings include:

Software Asset Management (SAM)

is managing and optimizing an organization's software assets. SAM involves the processes of tracking, managing, and controlling software licenses and usage throughout their lifecycle, from acquisition to retirement.

Open-Source Software (OSS)

compliance refers to the processes and practices organizations implement to adhere to the licensing terms and conditions associated with open-source software.

Enterprise Asset Management

The Enterprise Asset Management (EAM) solution developed by EY provides a comprehensive approach to asset management, enabling seamless transformation through Enterprise Resource Planning and operational excellence. Our EAM services offer strategic insights and frameworks to enhance asset utilization, optimize costs, and drive efficiency through IT asset optimization and increased productivity while ensuring scalability

ITAM enables organizations to track and manage IT assets, ensure compliance with licensing and regulatory requirements, and streamline processes for greater efficiency. It helps reduce the risk of penalties and achieve significant cost savings. Ultimately, ITAM maximizes the value of IT investments and supports key business objectives.
An effective ITAM strategy involves maintaining an up-to-date asset inventory, managing the full asset lifecycle, being compliant with licenses and regulations, optimizing costs, establishing clear policies and procedures, and promoting employee training and awareness.
IT Asset Management (ITAM) involves managing all organizational assets—hardware, software, licenses, and even non-IT assets—throughout their lifecycle. Software Asset Management (SAM), a subset of ITAM, focuses on tracking software licenses, ensuring compliance, managing installations, and optimizing usage. Together, they enable efficient asset utilization and risk mitigation.
Yes, ITAM helps reduce costs by optimizing existing resources, avoiding over-purchasing, and enabling compliance to prevent penalties and unnecessary license buys. It supports accurate budgeting, avoids maintenance on unused assets, and enables better vendor negotiations. Overall, ITAM improves financial planning and resource allocation.
ITAM supports cybersecurity by identifying high-risk and critical assets, enabling timely patch management to reduce vulnerabilities, and enhancing incident response through accurate asset inventories. It also integrates with security tools like Security information and event management to provide a comprehensive security view. Overall, ITAM strengthens risk management and threat mitigation efforts.
ITAM integrates with ITSM tools by feeding asset data into the Configuration Management Database (CMDB), supporting change, incident, and service request management, and enabling automation of asset-related workflows. It enhances reporting, improves service delivery, and enables proper user access controls. This integration streamlines IT operations and boosts overall efficiency.
ITAM solutions offer services like asset discovery, lifecycle and software license management, cost optimization, compliance tracking, reporting, vendor management, and sustainable disposal. These services help maximize IT investment value, reduce risks, and enhance operational efficiency.

Our latest thinking

Building a risk framework for Agentic AI

Build a robust risk framework for Agentic AI with EY’s multi-layered approach to governance, security, compliance, and responsible AI oversight.

Abbas Godhrawala

The team

Nitin Mehta

Digital Risk Leader, EY India

A passionate heavy metal music enthusiast and an avid reader.

Mumbai, India

Maya Ramachandran

Risk Markets leader, EY India

Technology risk specialist. Diversity and inclusiveness champion. Avid reader and extensive traveler

Gurugram, India

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.

Insights

Highlights

Services

Spotlight

Industries

Case studies

Careers