Efficient IT asset management (ITAM) can help an organization make better business decisions. Some of the key benefits include the following:

• Centralized asset database/inventory: Assets are difficult to manage when they are tracked in different places. Inaccuracy and disorder may set in, leading to inefficiency and poor business decisions. Having a single source of truth makes asset tracking easier and more efficient. The organization can see in one place what assets need to be discarded, upgraded or optimized for maximum productivity.
• Optimized asset use: IT asset management leads to efficient use of resources, mitigates risk, minimizes waste and reduces cost. By establishing an ITAM process, an organization gets real-time data on the state of all its assets and can make informed decisions about asset use.
• Software license compliance: Organizations that license third-party software often must undergo software audits by software providers who want to be sure these organizations comply with the license terms and conditions. Defaulting on the agreements can lead to serious fines. Thus, organizations use ITAM software to automatically monitor all software installed on all computers on their networks and ensure they comply with the relevant license agreements.
• Informed decision-making: ITAM data helps with the evaluation of previous purchases and deployments, which then informs subsequent actions. ITAM can improve IT asset purchase and business processes.