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IT asset management, ITAM, asset life cycle
Enterprise wide IT asset management (ITAM) covers both hardware and software through the entire asset life cycle that include proposal, procurement, acquisition, installation and eventual disposition. ITAM plays a critical rose in companys bid to cut cost and increase productivity. As companies continue to automate, right size and work to retain revenue, their ability to effectively manage IT assets becomes a major factor in the success equation. An effective and long lasting enterprise ITAM solution is based on systems that is build on policies and practices of the enterprise and not a software products out of the box solution. Companies must create processes that best support their strategic directions and utilize software tools that support those processes. The environmental impacts and subsequent financial consequences can be enormous. These life cycle stages have unique attributes not only by asset class, but by asset itself.
During the post-Enron era, corporate spending for IT projects will be reviewed and challenged both by the management as well as stakeholders. At ITAM system is expected to assist by providing data on appropriate management of resources. While some areas of the technology sector continue to shrink, ITAM software industry promises to reach billion dollars by 2005. This growth will be driven by the need for organizations to smartly manage IT hardware and software.