difference between IT Asset Management and Asset Management

lzj
Tera Contributor

‎01-31-2023 01:57 AM - edited ‎01-31-2023 01:59 AM

I'm sorry, but I want to know what is the difference between IT Asset Management and Asset Management. But I can't find relevant information.

Thank you very much if you can help me

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Sharif Nawaz
Tera Contributor

‎01-31-2023 07:03 AM

Hi @lzj ,

 

IT Asset Management (ITAM) and Asset Management refer to two different but related processes.

 

IT Asset Management is a broader concept that encompasses the complete lifecycle of an organization's physical and digital assets, including procurement, deployment, maintenance, and disposal. It helps organizations manage the cost, risk, and compliance associated with their IT assets.

 

Asset Management refers specifically to the module within the ServiceNow platform that supports ITAM processes. It provides a centralized platform for managing and tracking an organization's IT assets, including hardware, software, and licenses. The Asset Management module allows organizations to track their IT assets, manage procurement and deployment, and monitor compliance with software license agreements.

 

In summary, IT Asset Management is a business practice, while Asset Management in ServiceNow is a tool that supports the implementation of ITAM processes.

 

Hope this answers your question. Please mark this as helpful, if it helps.

 

Regards,

Nawaz

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