IT asset management is the method of ensuring an organization’s Information Technology related assets are being properly accounted, deployed, maintained, upgraded in a periodical manner, and discarded off when it is required. This includes valuable Information, hardware items and software application(s). Importantly, IT Asset Management also adheres to process across all lifecycle stages to get the details about total cost of the ownership and how to optimize the use of assets. Its ultimate objective should eliminate waste and improves the utilization
Evaluating the reliability of data from IT systems which have an impact on the financial statements of the organization.
Ascertaining the level of compliance with the applicable laws, policies and standards in relation to IT.
Checking if there are instances of excess, extravagance, gross inefficiency tantamount to waste in the use and management of IT systems.
It helps to reduce risks of data tampering, data loss or leakage, service disruption, and poor management of IT systems