Future of IT asset management: Trends and innovations

The field of IT asset management is constantly evolving, with more scope for improvement at every step it takes. While businesses’ operations are growing in both size and complexity, IT asset management tools need to adapt to suit the same. IT asset management software firms need to keep an eye on upcoming trends and tailor themselves as needed.


Artificial intelligence and automation:

As if Artificial Intelligence (AI) hasn’t already taken the entire world by storm in 2023, it is slowly but surely finding its groove within the IT asset management field too. While IT asset management software tools already deal with automation in some respects, AI really raises the bar in terms of the potential for automation in the field. Automation reduces the need for manual work, and at the same time cuts down the risk of human error and mismanagement of IT assets.

Here’s an example of AI’s potential in the IT asset management field: AI’s predictive algorithms can be put in place to estimate when a certain IT asset might require maintenance or is likely to fail. This predictive maintenance, which AI can potentially automate, would be extremely valuable to businesses. It could help them cut costs, save time, and even reduce the risk of disruptions.

This same example can be applied to optimising asset utilisation, making cost-effective decisions, or any other aspect of IT asset management–and with time, AI is likely to successfully perform in all of them. The power of AI is still only in its early stages, if IT asset management software firms can fully harness its capabilities, there’s no doubt that it will be revolutionary.



Sustainability and eco-friendly practices:

In recent years, sustainability and eco-friendly practices are some concepts that have garnered attention from most people around the globe. With the very real threats of global warming and climate change looming, organisations worldwide have taken steps towards combatting the same.



These are some of the ways how companies can contribute to the cause:

• Minimising waste production, especially with a focus on e-waste. Companies need to take the right steps to ensure that proper e-waste handling and disposal methods are being practiced.
  
  
• The sustainability model of reduce, recycle, and reuse should be adopted to mitigate negative environmental impact.
  
  
• Reduce: Organisations are trying to use insightful data gained from IT asset management software to reduce the over-purchasing of IT assets.
  
  
• Reuse: IT assets need to be utilised to their full extent. Refurbishing devices help extend their life and can be used for longer durations. Organisations are moving towards an environmentally friendlier approach of procuring and using refurbished IT assets.
  
  Learn more about how refurbished devices can help businesses save costs while boosting productivity.
  
  
• Recycle: Most organisations are trying to make sure that all waste is rightly segregated, and recyclable waste reaches the recycling plant. Especially at the end of an IT asset’s life cycle, when it’s being disposed of. Read more about Assetze's IT asset disposal and e-waste collection services.

IT asset management software can be a useful tool in achieving these goals. They can help companies be less wasteful and keep better track of what exactly it is that they do and don’t need.

Cloud-based IT asset management:

With the emergence and emphasis of cloud-based technology in today’s world, IT asset management software too has been and will continue to be influenced by the same. Cloud-based environments allow for greater accessibility, making it easier for organisations to run their operations remotely, across the world. Since IT asset management tools deal with hardware and software, there will be a rising demand for the management of these new cloud-based IT assets.

Cybersecurity and compliance:

With immense volumes of data being gathered, stored, and transferred each passing second in this modern data-dependent world, the risk of data breach, loss, or leaks is ever-increasing. The role of cybersecurity is understandably growing in importance. Businesses want to ensure the safety and security of their sensitive data.

In recent years, there has been a sharp increase in cyber threats and attacks on institutions across the world.IT asset management software needs to be up to standard when it comes to cybersecurity since such tools deal with a lot of businesses’ IT asset data. This includes covering bases such as threat detection, encryption, and strict access restrictions.

“Cyberattacks globally increased by 125% in 2021 compared to 2020”- AAG, the latest cybercrime statistics

Cyber incidents, such as cybercrime and data breaches, were reported to be the leading risk to businesses globally for 2023 by 34% of risk management experts - Statista Report

The IT world is constantly changing, and so are the compliance laws and regulations that are currently in place. IT asset management software tools need to be able to keep up with these rapid changes and ensure that organisations remain compliant.



IT asset management has innovative and dynamic solutions in store to face the unique challenges ahead of the IT world. With new technologies like AI and cloud-based systems developing and advancing every day, the landscape of IT asset management will take shape accordingly. These technologies will empower organisations in terms of productivity, decision-making, and revenue generation. The companies that will accept and embrace these new trends will reap the most benefits.