Service-now.com's Asset Management capabilities help IT, track and optimize resources at every stage of the asset lifecycle. IT asset management helps manage the physical, financial and service attributes of IT hardware and software assets including the four C's of asset management (characteristics, configuration, costs and contracts).

It is the discipline of managing finances, contracts and usage of IT assets throughout their lifecycles for the purpose of maintaining an optimal balance between business service requirements, total costs, budget predictability and contractual and regulatory compliance. IT asset management activities include the management of inventory, software licenses, vendors, procurement, leases, warranties, cost accounting, retirement and disposal.  

Effective IT asset management streamlines processes in the following ways:

Increased first-call resolution rates. Agents know what assets employees have when they call the help desk, how they are configured and how much they cost

Improved dispatch-to-solution rates. The number of trips that a field service technician makes during an install/move/add/change (IMAC) cycle is significantly reduced if there is prior knowledge of the asset's hardware and software configuration for the planned install, move, add or change.

Improved software usage. Avoid unnecessary and costly true-ups with software vendors, improve an organization's clout at the negotiating table and fuel cost reduction efforts through reallocating used or unused software among users.

Improved contract management. Avoid month-to-month lease payments after the initial lease schedule has expired. Avoid paying twice for maintenance coverage — such as paying for inclusion of the asset in a maintenance contract while the asset is still under warranty.

Managing an asset across its full life cycle can be comprised of a multitude of services ranging from ordering of the device, receipt and unpacking, installation, move, add, change, repair, configuration, connection to the network, security and password setting and verification, installation of peripherals, removal of old equipment, cleaning and clearing of old equipment, disposal of old equipment, wiring, and support. More than eight different departments are typically involved in this process, ranging from service desk, to facilities, purchasing, shipping and receiving, the network group, security, hardware technicians, software management and distribution, contract management, and finance. Service-now.com's CMDB provides the glue for knowing where assets are, who is working on what and with what priority to ensure that IT streamlines, standardizes and controls its environment.