ITAM in 2023

ITAM in 2023: Predictions

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In the evolving IT landscape, prioritizing core initiatives in IT asset management (ITAM) is key to success. The key to success lies in understanding this ever-evolving space and prioritizing efforts. The efforts must be around core initiatives that can have the greatest impact on your organization’s ability to achieve its strategic goals. 

CIOs have long wrestled with the challenge of creating and maintaining a high-quality IT asset inventory. Especially that includes both physical and virtual assets. It is a tough nut to crack when you factor in new technologies. These can be cloud, IoT, and blockchain and the fact that many organizations tend to rely on manual processes. Especially during their initial ITAM projects.

The shift toward increased work-from-home policies due to the COVID-19 pandemic has put additional pressure on IT asset management teams. While previously, ITAM focused on managing assets at corporate locations or offices, now it must manage thousands of devices in thousands of different spaces.

The 2023 vision for ITAM is to become a key partner in driving digital transformation. It will be with a greater focus on business outcomes and less on tradeoffs. Inflation has been a consistent, major driver in the ITAM market.
Amidst pressures like political uncertainty and external regulations, understand how your business can leverage technology spending. Once viewed mainly for cost reduction, ITAM is now a critical partner in maximizing ROI for data center assets and software licenses.

Here are a few ITAM trends to watch out for in 2023.

Read: Why your project managers need a powerful ITAM tool

1. Digital transformation will be on top of the agenda for asset managers

In a world where asset managers face growing regulatory obligations and investor demands, digital transformation tops their agenda. Automating manual processes, adopting artificial intelligence (AI), and using cloud-based technologies improve efficiencies and compliance. Asset management firms can thus meet the growing demands of digital-savvy investors.

Designers traditionally crafted IT asset management software for on-premises installation and compatibility with existing applications.
Now, in response to complex regulations and new IT ecosystems, developers are updating these systems to be flexible and scalable. As ITAM shifts to SaaS, organizations will have access to tools that can be deployed quicker. They can also be transferred more easily between data centers and managed better.

2. Staying compliant with automated processes and real-time data

Compliance is an integral part of the ITAM process and databases. With numerous regulations, asset managers feel pressured to comply with data and reporting requirements. The constant influx of new regulations adds to this challenge. They must not only prove compliance but also understand various aspects of their business for informed, data-driven decisions.

Automation makes complying with these regulations straightforward, using real-time data. It is in order to generate reports for any decision-maker throughout the organization.

Proactive ITAM strategies equip asset managers to better anticipate changes in technology and processes. Especially, to keep pace with regulations, while avoiding disconnects between teams, departments, systems, and processes.

ITAM is no longer just about managing IT assets, policies, and procedures. It is about anticipating change, leveraging technology, and taking a proactive role in driving business value.

3. ITAM will be driven by cloud consumption models

The move toward cloud consumption models will impact the ITAM approach, which will lead to an increasing need for ITAM practitioners to focus on automation and ease of deployment. New service models will also allow companies to shift from product-based payouts to metered consumption models and subscription-based models.

Many businesses are turning to the cloud to help them reduce costs and increase agility—therefore ITAM is becoming a strategic initiative. A robust ITAM program ensures that your infrastructure and apps are always ready for use and that optimal performance is maintained. 

With a hybrid model that combines public and private clouds, businesses can take advantage of the cost savings associated with cloud computing while still maintaining control over your data security and integrity.

This is also where ITAM’s response to the digital shift matters. Investments are expected to shift away from data centers and on-premises software at higher rates. Simultaneously, there is an expectation for rapid increases in investment into public cloud and SaaS. ITAM practitioners have a role in this change and effectively managing it.

The capability to access ITAM systems from virtually any device will be vital for organizations in the post-pandemic world. 

4. Integration will be key

The ability to integrate with ITSM, third-party API providers, and cloud providers will drive the future of ITAM. Increasingly, ITAM is required not only to ensure managing and monitoring individual processes but also to ensure the overall performance of the entire IT department.

With an integration layer, data can be held in one place. This will allow managers to pull the latest and greatest data from systems and create holistic reporting on compliance and other KPI outcomes. 

Accessing historical data on ITAM issues enables combining it with operational data to identify correlations between business closures and IT performance issues. This means that managers will not just identify what went wrong; they will know how and why it happened so that similar incidents can be prevented in future.

Drive better business decisions with IT asset management

Step into 2023 with a robust ITAM solution

In the ever-evolving world of ITAM, companies need a comprehensive, end-to-end solution that helps them keep up with the fast pace. Virima is your partner for ITAM transformation and asset lifecycle management. We help you implement best practices in ITAM.

Virima ITAM stands out because we offer the flexibility and scalability required to adapt with your business, whether you’re a large enterprise or small business owner. Your asset management applications can scale up and down as your needs change.

With future-ready solutions that are known for being ahead of the curve, Virima takes care of all your long-term or short-term needs. From managing all your critical hardware and software assets in an inventory management system with agent-based and agentless discovery to planning for assets the business demands to operate efficiently, we have you covered.

Virima’s ITAM solution is built to support your business goals and future project requirements. As organizations move towards hybrid cloud infrastructures, we remain committed to providing you with a robust Windows agent that supports Work from Anywhere (WFA) configuration tracking.

Our deep out-of-the-box integration with ITSM platforms from Ivanti/Cherwell, ServiceNow, and Jira ensure that your systems, people, and processes always stay connected and updated.

We’re very excited about what the future holds for ITAM, and we’re confident in our ability to help businesses make the most of it. We know that our customers are ready for this change, and they’re counting on us to deliver.Get the most out of your ITAM with Virima. Reach out to us and discover how Virima’s powerful solutions like ViVID Service Mapping and Virima Discovery can work together to make your IT deployment more successful.

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