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Asset Management

Consolidated Lifecycle Automation

Application Summary

ServiceNow Asset Management tracks the financial, contractual, and inventory details of hardware, software, and virtual infrastructure – as well as non-IT assets – throughout their lifecycle. Asset requests are handled using workflows to obtain approvals, validate entitlements, issue chargebacks, and provision services. Once an asset is deployed, Asset Management records all maintenance activity and enables IT to perform regular audits, right up until asset retirement.

Benefits to Enterprise IT

Inaccurate inventory, wasted resources, compliance issues, and service delays are all every day risks for enterprises that have serious consequences if not addressed. To mitigate risk, organizations need to know the assets they have, where they are, usage entitlements, who uses them, how they are used, how they are configured, what they cost, and the value they deliver. With ServiceNow Asset Management, IT can:

  • Depend on One Source of Truth
    • Make informed  asset decisions – around capacity, asset refresh, vendors, and more – using accurate asset portfolio data consolidated within a single system of record
    • Access both business and configuration information on assets by linking the asset repository with the ServiceNow Configuration Management Database (CMDB)
    • View a single pane dashboard that shows the organization’s software portfolio, including what is owned, what is deployed, and the variance
    • Monitor Key Performance Indicator (KPI) trends with ServiceNow Performance Analytics
  • Reduce Costs
    • Lower software spend by making informed decisions on software need and the potential to use lower cost software versions
    • Reduce wasted resources by identifying and removing underutilized assets
    • Automate asset lifecycle processes in order to eliminate repetitive human tasks and the associated costs
    • Consolidate vendors and asset models, and retire contracts that no longer provide value to the business to lower maintenance costs
    • Influence asset demand and expense by displaying asset prices in the ServiceNow Service Catalog and issuing chargebacks using ServiceNow IT Cost Management
  • Enhance Governance
    • Control asset distribution by centralizing requests through a role-based service catalog
    • Enforce policies, contractual agreements, and regulatory requirements when new requests are submitted; using workflow to validate requester eligibility and to obtain approvals before fulfillment
    • Confirm all internal and external compliance requirements are met by periodically testing controls with ServiceNow IT Governance Risk and Compliance
    • Track entitlements so that unauthorized software can be flagged for removal or new license purchase
  • Mitigate Risks
    • Accurately track software license compliance and usage
    • Reduce audit preparation effort
    • Notify contract owners when renewal and expiration dates approach to prevent lapses in coverage
    • Strengthen change management risk calculations by including business information about assets, such as age or lease expiration date

Additional Information

Entitlement-based Software Asset Management

 

As software costs continue to rise and the risk of vendor audit increases, software asset management (SAM) helps organizations track the software used in the enterprise. ServiceNow Asset Management collects data from discovery tools and other sources to capture an accurate inventory of the software the organization is actually consuming as well as what has been purchased. Importantly, ServiceNow Asset Management breaks the vicious cycle of blindingly purchasing more software every year to ensure compliance and exposes the unauthorized (and potentially unlicensed) use of software. License managers can also make informed decisions around how to provision expensive suite licenses and cheaper alternatives, and when to use upgrade and downgrade rights to further optimize software investments.

 

Business Policy-Driven Configuration Management and Asset Integration

 

ServiceNow Asset Management lets the business decide which assets to include in the configuration management database (CMDB) in an automated manner. By having both ServiceNow Asset Management and ServiceNow Configuration Management on the same platform, the traditional challenges around data integration, normalization, and data reconciliation are eliminated. As new assets get added, the business rule engine takes action and creates configuration item (CI) records in the CMDB when necessary.

 

Easy Catalog Planning With Vendor Data

 

Asset managers can place asset offerings straight into the service catalog. ServiceNow Asset Management can easily take in data from vendors and define which asset standards should be offered to end users via the service catalog. This is done directly from the asset system without the need to build complex web pages or ask a more technical group to do it. As service catalog items are published asset managers can also decide which groups of users should be authorized to request the asset. And internal and recurring pricing is supported to account for different chargeback models the organization wishes to employ.

 

Asset Provisioning

 

When new requests come in for assets, fulfillment personnel can quickly review available inventory from stockrooms. This means that an organization can provide quicker service for commonly requested goods. It also allows the organization to repurpose assets that have been returned. For requested items that are not in stock, ServiceNow makes it easy to create a purchase order with a single click. Ordered assets are tracked and eventually arrive on the loading docks, where they are received and automatically created in ServiceNow. In this very important step, asset records are created cleanly from the beginning with complete data related to the asset model, user request, order, cost and much more. The benefit is that the received assets go into production much faster since it is clear who requested the asset, where it is needed and for what purpose.

 

Automated Inventory Management

 

ServiceNow Asset Management allows customers to control stockroom assets including hardware, software, consumables, and any other types of assets. IT can define a hierarchy of stockrooms, both physical and logical. And for each model of asset to be maintained in stock, simple threshold levels can be defined to manage inventory and take action when levels run low. The automated rules will either pull stock from a parent stockroom or process instructions to buy more from a vendor. The organization can thus quickly provision employees with the assets they need to stay productive without over-spending on excessive inventory.

 

Total Cost of Ownership Expense Tracking

 

ServiceNow Asset Management serves as a repository of all the costs associated with assets throughout their lifecycle. This can include the initial acquisition cost, lease charges, warranty fees, support and maintenance contract payments, and labor charges. By capturing all the costs, asset managers can determine the actual lifecycle costs for assets to identify areas of excessive cost and find ways to optimize future spending.

 

Contract Management

 

ServiceNow Asset Management also includes contract management capabilities. This includes the ability to define any number of contract types and create contracts against them. IT managers can assign contracts to team members and leverage the ServiceNow workflow engine to automate the contract approval and renewal process. ServiceNow Asset Management tracks the key terms and conditions of contracts, makes them easily searchable, and includes document management for version control and storage of electronic documents. Contract payment information is also tracked including the ability to generate expense lines on a schedule. Both assets and users can be associated with contracts making it clear as to how the contract is utilized and how to allocate costs. Finally, contract management includes reports, dashboards, and notifications to ensure that interested parties are fully aware of pending expirations, costs distributions, and other important contract information.

 

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