Why IT Spends Too Much Time on Asset Management

Why IT Spends Too Much Time on Asset Management

Having an integrated, reconciled IT asset management data set can provide an invaluable foundation for a wide variety of strategic IT initiatives.

Three-quarters of survey respondents said their organization spends, on average, more than 20 hours collecting asset inventory data for every major software or compliance audit, and one of five spends more than 50 hours doing so.

On average, respondents said their organization spends 30 hours per software license/compliance audit attempting to reconcile multiple asset inventory sources, and 10 hours a week trying to reconcile different ITAM-related sources.

Asset management databases: 60%, Excel spreadsheets: 51%, Inventory or discovery tools: 45%

22% of survey respondents said their company still keeps asset-related data on paper.

66% said their organization manages at least eight discovery tools, and 36% use more than 20.

Nearly half need to keep track of more than 20 software vendors, and 11% track more than 100 vendors.

Keeping up with security as new vulnerabilities are discovered: 25%, Reducing cost of IT infrastructure: 22%, Managing, tracking and optimizing IT hardware and software assets throughout their full lifecycles: 22%, Improving SLAs for IT services and increasing speed of app delivery to business customers: 20%

97% said their company uses the cloud in some form, with 61% opting for a private cloud model and 42% using the public cloud.

45% said the cloud is changing how their organization measures IT costs and asset investments, and 39% said it has increased real-time awareness of tech assets.

34% said the cloud takes away some ITAM requirements to make it simpler, and 33% said it increases automation levels.