Understanding Hardware Asset Management

Managing hardware assets efficiently in the ever-expanding world of information technology is a critical yet challenging task for organizations. That is why, adopting Hardware Asset Management (HAM) solutions offers a well-organized approach to overseeing the lifecycle of physical assets within an organization’s IT environment.

Let us first look at some key challenges of managing hardware assets manually.

Challenges in Managing Hardware Assets

Managing hardware manually, from purchase to disposal, is a constant struggle. It is a costly process, with expenses beyond the initial purchase price. Here is why:

• High Lifecycle Costs: Manual provisioning and configuration can be inefficient, while ongoing maintenance and security requirements create a continuous drain on resources.
• Rapid Depreciation: The value of hardware depreciates rapidly, impacting budgets and requiring strategic decisions about asset lifespans.
• Limited Visibility: Manual tracking methods often lack the granularity and accuracy needed for optimal asset utilization and informed decision-making.

Let us look at some statistics related to shadow IT. Shadow IT is the utilization of hardware or software by a department or individual without the consent or knowledge of the organization’s IT or security team.

Source

What is HAM?

Hardware Asset Management (HAM) is a practice that monitors and manages the physical elements that constitute an organization’s IT infrastructure, including desktops, laptops, servers, and network equipment. This practice spans the full lifecycle of these assets, from procurement to retirement and recycling. HAM is a fundamental aspect of IT Asset Management, ensuring that hardware assets are tracked, maintained, and utilized effectively.

Benefits of HAM

1. Cost Savings
   Proper management of hardware assets throughout their lifecycle can reduce costs by minimizing the risk of failures through regular servicing and maintenance. Disposing of assets at the end of their lifecycle also helps in avoiding high maintenance expenses.
2. Smart Asset Acquisition and Allocation
   HAM enables organizations to maximize the utility of their inventory by identifying underutilized assets. By having a comprehensive view of available inventory, organizations can optimize asset allocation and reduce unnecessary purchases.
3. Elevated Security and Compliance
   Hardware Asset Management provides a detailed overview of hardware assets, aiding in identifying assets that require maintenance or retirement. This proactive approach helps in mitigating security risks and ensures compliance with organizational policies and regulations.
4. Asset Theft Prevention
   Asset tagging, ownership allocation, location tracking, and maintenance scheduling are integral components of HAM. By maintaining detailed records of hardware assets, organizations can reduce the risk of theft and ensure compliance with warranties and licenses.
5. Better Inventory Control
   HAM offers transparency and control over IT inventory by providing accurate information on hardware assets. Features like asset discovery and request validation streamline inventory management and ensure data accuracy.
6. Higher Operational Efficiency
   By automating redundant processes and proactively monitoring hardware inventory, HAM enhances operational efficiency. IT teams can focus on value-generating tasks, minimizing disruptions and optimizing resource allocation.

ServiceNow HAM

ServiceNow HAM offers a comprehensive solution that provides organizations with end-to-end visibility and control over their physical assets. Through advanced automation technologies, intuitive dashboards, and robust audit tools, businesses can optimize asset costs, reduce risks, and streamline asset workflows. Integrated within the ServiceNow IT Asset Management (ITAM) tool set, HAM simplifies the complexities of asset management, helping organizations enhance productivity and effectiveness.

If you want to explore why you should choose ServiceNow IT Asset Management (ITAM) for your business, this blog has insights for you.

For organizations seeking expertise in implementing ServiceNow Hardware Asset Management solution, partnering with Advance Solutions (ADVANCE), a leading elite ServiceNow partner can help maximize the benefits of HAM and achieve IT infrastructure management goals effectively.

Conclusion

Hardware Asset Management plays a vital role in ensuring the efficient utilization and maintenance of hardware assets within organizations. By embracing HAM practices and leveraging advanced solutions like ServiceNow Hardware Asset Management, which is available as a part of ServiceNow ITAM, businesses can optimize their IT infrastructure, reduce costs, enhance security, and improve operational efficiency.

For more information, speak to our ServiceNow experts.