IT Asset Management

What is IT Asset Management?

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What is IT Asset Management?

IT asset management (ITAM) is a set of practices and processes used by organizations to effectively acquire, deploy, manage, and track their information technology (IT) assets throughout their lifecycle. IT assets encompass hardware, software, networking equipment, licenses, and related resources. The primary goals of IT asset management are to optimize asset utilization, reduce costs, minimize risks, and ensure compliance with licensing and regulatory requirements.

Key aspects and considerations of IT asset management include:

1. Asset Inventory: Creating and maintaining an accurate inventory of all IT assets within the organization, including desktops, laptops, servers, networking devices, software licenses, and peripherals.

2. Asset Tracking: Assigning unique identifiers (such as asset tags or serial numbers) to each asset to facilitate tracking and identification.

3. Lifecycle Management: Managing assets throughout their lifecycle, from procurement and deployment to maintenance, upgrades, and eventual disposal or retirement.

4. Procurement: Implementing standardized processes for acquiring new IT assets, including vendor selection, purchasing, and negotiation.

5. Inventory Audits: Conducting regular audits to verify the accuracy of asset records and identify discrepancies.

6. License Compliance: Ensuring compliance with software licenses and managing software assets to prevent over-licensing or under-licensing.

7. Asset Utilization: Maximizing the utilization of assets to avoid unnecessary costs and ensuring that assets are allocated efficiently to support organizational needs.

8. Maintenance and Repairs: Implementing maintenance schedules and procedures to extend the lifespan of assets and minimize downtime due to hardware failures.

9. Security: Implementing security measures to protect IT assets from unauthorized access, theft, or data breaches.

10. Asset Disposal: Developing procedures for secure and environmentally responsible disposal or recycling of obsolete or retired assets.

11. Reporting and Analytics: Generating reports and conducting data analysis to gain insights into asset usage, costs, and compliance.

12. Documentation: Maintaining documentation related to asset history, warranties, licenses, and maintenance records.

13. Vendor Management: Managing relationships with IT vendors and suppliers to negotiate favorable terms and ensure timely delivery of assets.

14. Asset Classification: Categorizing assets based on criticality, value, and importance to the organization’s operations.

15. Asset Depreciation: Accounting for asset depreciation and amortization in financial reporting to accurately reflect asset values.

The benefits of effective IT asset management include:

Cost Savings: Optimization of asset utilization and reduction of unnecessary spending on software licenses and hardware.
Risk Mitigation: Minimization of security and compliance risks through proper asset tracking and management.
Enhanced Productivity: Improved asset availability and reduced downtime lead to increased employee productivity.
Compliance: Ensuring compliance with software licensing agreements and regulatory requirements.
Data Security: Protection of sensitive data through secure asset management practices.
Strategic Decision-Making: Data-driven insights from asset management can inform strategic IT decisions.

IT asset management is a critical discipline for organizations of all sizes, helping them efficiently manage their IT resources, control costs, and maintain the integrity and security of their IT environments. It is often facilitated by dedicated ITAM software tools and solutions designed to streamline asset tracking and reporting.

More IT Asset Management Resources for Call & Contact Centers

IT, Contact Center

IT plays a key role in the success of modern call centers. From data storage solutions to automation software, IT solutions can streamline operations, enhance customer experience, and increase employee efficiency. With reliable hardware and software solutions from trusted vendors, call centers are able to better manage customer interactions and ensure customer satisfaction.

Call center operations are highly dependent on the use of technology and reliable IT services. By investing in state-of-the-art technology solutions such as AI-powered customer service bots, advanced analytics tools, and omnichannel support platforms, call centers can provide faster responses to customer queries, enhance customer engagement with improved customer experience management tools, and leverage predictive insights with robust data analysis capabilities. With the right IT investments, call centers can achieve operational excellence while providing quality customer service that is essential for business growth.

LiveVox Announces 50% Increase in IT Capacity to Bolster Already Robust System Reliability and Company Growth

LiveVox, the leading provider of hosted-dialer solutions, today announced it has continued investment into its information technology infrastructure, increasing its already robust capacity by more than 50% in the past six months to maintain its solid standard of customer reliability.

LiveVox also announced it increased its customer base in the credit and collections industry by 84% in the third quarter of 2008, compared to the corresponding quarter last year, as it continues to focus on the third-party collections market.

LiveVox is the first to deliver a Hosted VoIP Dialer that operates on secure, private networks that directly access the carrier backbone using a Session Initiation Protocol (SIP) interface. This allows LiveVox to offer hosted-dialing services with unlimited capacity, higher quality and lower cost than premised-based or other hosted-dialing solutions. Other hosted solutions use either the public Internet or a hybrid of VoIP and analog protocols.

AI-Powered Omnichannel—Keeping the Customer at the Core

LiveVox’s unified CRM leverages LiveVox Contact Manager, a single database of unified customer profiles that are updated in real time. Information can be easily pushed and pulled from other systems of record, including other CRM systems, keeping data fresh and consistent without burdening information technology (IT) resources. Critical information, such as channel-specific consent management status, customer segmentation status, address changes, or payment updates are then reflected across all data touchpoints. Features of note:

  • Unification of voice and digital channels, applications, and data
  • Knowledge management
  • Unified cross-channel conversation management in a single pane of glass
  • Customer journey design and management
  • Integration with third-party systems

Did you know?
Contact Center AI is easy to do with LiveVox - Get the AI Starter Kit

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About LiveVox

LiveVox (Nasdaq: LVOX) is a proven cloud CCaaS platform that helps business leaders redefine customer engagement and transform their contact center’s performance. Decision-makers use LiveVox to improve customer experience, boost agent productivity, empower their managers, and enhance their system orchestration capabilities. Everything needed to deliver game-changing results can be seamlessly integrated and configured to maximize your success: Omnichannel Communications, AI, a Contact Center CRM, and Workforce Engagement Management tools.

For more than 20 years, clients of all sizes and industries have trusted LiveVox’s scalable and reliable cloud platform to power billions of omnichannel interactions every year. LiveVox is headquartered in San Francisco, with international offices in Medellin, Colombia and Bangalore, India.

To stay up to date with everything LiveVox, follow us @LiveVox, visit or call one of our specialists at (844) 207-6663.

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