Weak Asset Management Leads to Costly Performance Risk
February 24, 2020

Rex McMillan
Ivanti

Share this

The tech world may be falling in love with artificial intelligence and automation, but when it comes to managing critical assets, old school tools like spreadsheets are still in common use. A new survey by Ivanti illustrates how these legacy tools are forcing IT to waste valuable time analyzing assets due to incomplete data.

Global survey findings from over 1,600 IT professionals also highlighted the need to better integrate service and asset management functions in order to develop and manage assets far more efficiently from provisioning of a new asset through their entire lifecycle. Integration will also help to prevent performance and service glitches occurring due to inadequate asset tracking.

Key findings of the survey are:

■ 43% of IT professionals still track IT assets in spreadsheets

■ 56% do not manage the complete asset lifecycle

■ Nearly 25% reported spending hours per week reconciling inventory and assets

■ 28% reported spending hours supporting out-of-warranty/out-of-support assets

■ 22% replace a device when a user reports an incident or problem


Incomplete Asset Data Wasting IT Time and Budgets

If you own a vehicle, why would you spend valuable time fixing a mechanical issue still covered under warranty? That is one of the questions prompted by the survey which found 50% of IT professionals reported having worked on assets that were actually still under warranty.

Conversely, hours were being spent servicing out-of-warranty assets getting closer to end of support — prolonging use of assets that could no longer contribute to peak performance and could pose security risks.

When asked if they incorporate and monitor purchase data, contracts and/or warranty data as part of their IT asset management program, over 60% of IT professionals said they were missing some key information in their IT asset management program.

Asset and Service Integration is Key to Improvement

The survey reinforces the need for IT Service Management (ITSM) and IT Asset Management (ITAM) to integrate more closely to stop costly inefficiencies caused by incomplete asset data. Particularly in the current environment of increasing security and compliance regulations, using out-of-warranty or out-of-date assets that cannot be patched correctly can expose an organization to costly fines.

Regarding automation, efficient ITSM and ITAM teams are using automated processes to bring asset management into the 21st century and get rid of those spreadsheets! By having one integrated repository of data on an asset and knowing warranty and end-of-service issues for all assets, an organization can avoid costly compliance and/or performance issues.

Survey respondents are hoping to get these benefits from integration:

■ Better visibility of their IT estate: 63%

■ Increased IT staff productivity: 59%

■ Optimized costs: 54%

■ Improved service delivery: 53%


When ITSM and ITAM are closely aligned and integrated, many activities and processes become more automated, efficient, and responsive, with fewer things "falling through the cracks." IT teams gain more insight and are better positioned to move from reactive activities to more proactive practices, delivering higher service levels and efficiency at lower costs.

Rex McMillan is Principal Product Manager at Ivanti.
Share this

The Latest

July 09, 2020

Enterprises that halted their cloud migration journey during the current global pandemic are two and a half times more likely than those that continued their move to the cloud to have experienced IT outages that negatively impacted their SLAs, according to Virtana's latest survey report The Current State of Hybrid Cloud and IT ...

July 08, 2020

Every business has the responsibility to do their part against climate change by reducing their carbon footprint while increasing sustainability and efficiency. Harnessing optimization of IT infrastructure is one method companies can use to reduce carbon footprint, improve sustainability and increase business efficiency, while also keeping costs down ...

July 07, 2020

While the adoption of continuous integration (CI) is on the rise, software engineering teams are unable to take a zero-tolerance approach to software failures, costing enterprise organizations billions annually, according to a quantitative study conducted by Undo and a Cambridge Judge Business School MBA project ...

June 25, 2020

I've had the opportunity to work with a number of organizations embarking on their AIOps journey. I always advise them to start by evaluating their needs and the possibilities AIOps can bring to them through five different levels of AIOps maturity. This is a strategic approach that allows enterprises to achieve complete automation for long-term success ...

June 24, 2020

Sumo Logic recently commissioned an independent market research study to understand the industry momentum behind continuous intelligence — and the necessity for digital organizations to embrace a cloud-native, real-time continuous intelligence platform to support the speed and agility of business for faster decision-making, optimizing security, driving new innovation and delivering world-class customer experiences. Some of the key findings include ...