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, provision services and more. Once an asset is deployed, Asset Management records all maintenance activity and enables IT to perform regular audits, right up until asset retirement.
Inaccurate inventory, wasted resources, compliance issues and service delays are all risks faced by enterprise organizations every day. And they have serious consequences if not addressed. To mitigate risk, organizations should understand the assets they have: where they are, who uses them, how they are used, how they are configured, what they cost, and the value that they deliver. With ServiceNow Asset Management, IT can:
As software costs continue to rise and the risk of getting audited increases, Software Asset Management (SAM) helps organizations track software used in the enterprise. SAM 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. ServiceNow Asset Management breaks the vicious cycle of blindingly purchasing more software every year by exposing unauthorized users of software that lack the entitlements approved by IT. License managers can make decisions around how to allocate expensive suite licenses and upgrade and downgrade rights in order to further optimize software investments.
ServiceNow Asset Management is the only asset solution that lets the business decide which assets to integrate into the configuration management database in a seamless 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 to the system, the business rule engine takes action and creates CI records when necessary.
Asset managers can now support their end-users directly by placing asset offerings straight into the service catalog. Asset management offers an easy way to take in data from vendors and define which asset standards should be offered in the organization. Asset managers can do this directly from the asset system, without the need to build complex web pages or ask another group to do so. As catalog items are published, asset managers can also decide which group of users should be allowed to order the asset. And internal and recurring pricing is supported to account for different chargeback models.
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.
Asset Management manages stockroom assets including hardware, software, consumables and any other type of asset. IT can define a hierarchy of stockrooms, both physical and logical. For each model of asset to be maintained in stock, simple threshold levels are defined that 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 advantage of managing inventory with ServiceNow Asset Management is that adequate stock can be kept on hand for commonly requested assets. The organization can more quickly provision employees with the assets they need to stay productive, without over-spending on excessive inventory.
Asset Management serves as a repository of all costs associated with assets throughout their lifecycle. This can include the initial acquisition cost, lease charges, warranty fees, support and maintenance contract payments, labor charges and more. By capturing all costs, asset managers can determine the actual lifecycle costs for the assets. With this type of data, organizations can identify areas of excessive cost and find ways to optimize spending.
Asset Management includes a full contract management system to organize all contract data. 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 workflow engine in ServiceNow to automate the approval and renewal process. Asset management helps IT track the key terms and conditions of contracts to make 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 absolutely clear how the contract is utilized and how to allocate costs. Finally, contract management includes many reports, dashboards and notifications so that the organization is fully aware of pending expirations, costs distributions and other important contract information.