What is IT Asset Management? – Forbes Advisor

Modern businesses rely heavily on IT assets. This rapid technological development has broadened the scope of what asset management practices need to cover.

Digital Asset Management (DAM)

A popular subset of ITAM is digital asset management (DAM), which is responsible for the efficient management of digital media and content and data storage and processing. By using DAM, you can control access to all intellectual property, sensitive information, and meeting minutes onsite and offsite (because it’s stored on a cloud). Remote record keeping allows for instant information sharing, accountability checks, access to more accessible search functions and much more.

Fixed assets management

Fixed asset management is a business practice in which fixed asset data is recorded in a company’s general ledger. They include property, plant and equipment. All businesses of different sizes can benefit from tracking their fixed assets. Just like IT assets, keeping a capital asset too long will incur a cost to the business due to high maintenance costs and lost employee productivity.

Enterprise Asset Management

Another kind of asset management is enterprise asset management. This business practice involves integrating and optimizing any physical assets or infrastructure that the company owns. This is seen as a holistic approach to organizing and tracking.

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