IT Asset Management

  • Release version: Australia
  • Updated March 12, 2026
  • 3 minutes to read
  • The ServiceNow® IT Asset Management application gives you a unified view of hardware assets, software licenses, cloud assets, regulatory audits, contracts, and procurements to help reduce costs, maintain compliance, and manage assets.

    Figure 1. IT Asset Management life cycle stages
    ITAM technology life cycle stages and integrations with other ServiceNow platforms.

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    Table 1. A highlight of IT Asset Management features
    Normalize software assets

    Automatically normalize your software assets with updates from the Software Asset Management content service.

    Manage software rights

    Track and manage rights for your software products by creating or importing software entitlements.

    Leverage publisher packs

    Use license metric data for specific software publishers to accurately track your software usage.

    Track SaaS subscription usage

    Integrate with SaaS applications and SSO providers to track your SaaS subscription usage. Use this data to manage compliance and optimize licensing for your subscriptions.

    View and take action on your license position

    Use the License usage view (Software Asset Workspace) or License Workbench (Software Asset Management Core UI) to view your license compliance position and remediate any license compliance issues.

    Track software spend

    Track and manage financial transaction data for your software products to optimize your software spend.

    Normalize hardware assets

    Use the extensive hardware Content Library to normalize manufacturer and model data for your assets and to populate important life cycle dates for improved visibility into your asset estate.

    Asset life-cycle automation

    Reduce manual effort and improve service delivery using low-code prescriptive workflows based on the industry best practices that are available at each stage of the asset life cycle. Use asset tasks to automate workflows for bulk stock orders; disposal orders; and the deployment, swapping, and retirement of assets.

    Refresh aging hardware assets

    Proactively track and plan for aging assets that are nearing the end of their life cycles so that you can reduce replacement costs and the risk of hardware vulnerabilities.

    Audit your asset inventory

    Conduct scheduled or ad-hoc audits of your asset stockrooms and other asset locations, such as offices and data centers.

    Manage expiring maintenance and lease contracts

    Take action on your expiring maintenance and lease contracts using task-based workflows within the simplified contract renewal process.

    Accelerate your cloud strategy and reduce costs

    Accelerate cloud implementation with a streamlined, responsive, and intuitive self-service cloud resource portal and non-intrusive policy guardrails. Reduce costs by rightsizing your cloud resources to match your organization's usage and by automatically turning off cloud resources during non-working hours.

    Manage financial regulatory audits

    Manage vendor audits from a centralized audit workspace with built-in regulatory content and prescriptive response workflows.

    Manage expiring maintenance and lease contracts

    Take action on expiring maintenance and lease contracts using task-based workflows within the simplified contract renewal process.

    Automate purchase orders and approvals

    Automate purchase orders, approvals, and receiving workflows to create asset records on delivery and reduce procurement cycle times.

    Standardize hardware, software, and cloud resources

    Maintain a single source of truth for all IT products and services used across ITAM with an employee-facing request portal.

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    What is IT asset management (ITAM)?