The 7 Features You Need From an ITAM Tool

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Before implementing an ITAM solution into a business, it’s crucial to understand the key features that are available.

This is relevant to all companies wanting to install a system to help manage its IT hardware, software or cloud subscriptions.

Read more: What is IT Asset Management and Why is it so Valuable?

Using a Tool to Manage Your IT Assets

Using a Tool to Manage Your IT Assets

The purpose of an IT asset management tool is to track and monitor all IT assets and infrastructure found in the workplace. That includes hardware, software, cloud equipment, mobile and tablet devices.

Read more: 4 Key IT Asset Management Tools for Managing IT Assets

ITAM software can also help to manage and protect an IT inventory to help reduce the risk of loss, damage, theft and cyber threats. An effective system can cover software usage, license renewals, help desk management and employee onboarding.

It can also help to reduce the total cost of ownership of IT assets by providing businesses with crucial data about the health and value of your assets over time. As well as providing helpful regulatory compliance with fast and accurate reporting and audit trails.

7 Key ITAM Features to Lookout For

Most solutions can have very similar IT asset management software features, though some may be more complex than others. In general though, to achieve complete efficiency from an ITAM system, the following features are highly sought-after.

7 Key ITAM Features to Lookout For

1. Asset Discovery Capability

IT asset discovery means to gather a complete inventory of all IT assets. These can include company computers, printers, photocopiers, mobile devices, software applications and more.

As IT infrastructures frequently change, asset discovery can still provide a regular up-to-date view of all assets.

As far as IT asset management software features go, this is one of the most crucial ones.

2. Software Management

If a business has a range of software products, this feature will help to store, track and manage them all in one place.

For example, it can show how many users a company has for each software license. It can also highlight which version of an app has been installed on employee devices.

When licenses are due to expire, this feature will also help to renew or dispose of them easily.

3. Configuration Management Database (CMBD)

A CMBD allows a business to keep a complete repository of all Configuration Items (CIs) in an IT environment.

Through a CMBD, businesses can better understand the relationship between CIs and identify the impact that one CI might have on other CIs.

A CMBD is designed to support complex IT infrastructures.

4. Purchase Orders and Contract Management

When buying new IT assets, effective orders and contracts management helps to manage the purchase order cycle. While sending notifications out to whoever needs to approve them.

Likewise, if a business has contracts with various vendors, it can keep everything together. Such essential information such as terms and conditions, expiry dates and renewal information, are all stored in one accessible place.

5. IT Asset Monitoring

Some software solutions can also provide performance monitoring options to help track network usage or CPU and memory usage for different workstations.

IT Asset Monitoring

If a business has sister or parent websites, URL monitoring can alert them if they suddenly become unavailable.

There’s also hardware and software monitoring, which can produce alerts when illegal or unwanted software is installed.

These alerts can be used in similar scenarios too, like when an unknown flash drive, for example, is connected to a workstation.

Read more: Best practices for assigning IT assets to employees

6. Help Desk Features

In an ideal world, an IT help desk service should go hand in hand with IT asset management.

By having as much information about hardware and software assets as possible, an IT technician has a better chance of resolving end-user issues quickly.

Remote access is another feature linked to help desk management. With this, a business can take control of any IT device remotely to resolve issues.

Integration with help desk features help to improve service quality and satisfaction across the organisation.

7. Analytics and Reporting

Predefined and custom reporting is another essential feature of any ITAM system.

This can help keep control of IT inventory, check how IT assets are performing and understand where they are in their lifecycle. Additionally, this feature helps with compliance and auditing processes too.

Bonus: Cloud-Based ITAM

As well as the features mentioned above, it makes sense to look for a mobile-friendly IT asset management software solution.

Should an employee need to urgently access asset information when off-site or after working hours, they can log in via an app.

Which Features are Crucial for Your Business?

For further reading on IT asset management software features, check out our buyer’s guide to ITAM software. It explains in detail all the benefits IT asset management can bring to a business and covers certain features in-depth. As well as how to find the best IT asset management software and what typical costs are involved.