The future of IT asset management: 5 trends to watch

In the age of AI, the quest for precise and high-quality data has never been more urgent. This is particularly critical in IT asset management, where quality data supports strategic decisions on procurement and lifecycle management. Without such data, there can be no return on investment in assets.

Diligence in managing hardware and software assets doesn’t just fulfil operational requirements. It also slashes the total cost of ownership by minimizing spending on outdated or rarely used technologies and fostering sustainability through energy-efficient, low-carbon solutions.

However, NTT DATA's new 2024 Infrastructure Lifecycle Management Report uncovers a stark reality: more than 8 in 10 organizations recognize that their innovation efforts are stifled by outdated or insufficient technology.

This observation lays the groundwork for transformative shifts in IT asset management, and our report explores the significance of asset lifecycle management, new purchasing models, prevalent challenges and strategies to navigate through them.

To complement our report, let’s explore five trends that are set to redefine IT asset management and help organizations work more efficiently. 

1. AI and machine learning

AI and machine learning aren’t just buzzwords. These technologies are being integrated into asset management platforms, making tasks such as predictive analytics, software license optimization and inventory monitoring more efficient than ever.

Imagine AI-driven tools that can foresee an asset’s end of life, or machine-learning algorithms that adapt to changing software usage patterns. The automation capabilities they offer would not only enhance accuracy but also streamline operations, giving organizations a competitive edge.

2. Cloud computing

Amid the proliferation of cloud computing, cloud-native IT asset management tools are becoming the go-to for modern organizations – and for good reason.

These solutions provide unparalleled scalability: as organizations grow, their asset management tools can adapt accordingly. Meanwhile, real-time access to data, irrespective of employees’ locations, allows teams to collaborate and work more flexibly – especially now that hybrid and remote working is the norm. 

Organizations often divide asset management responsibilities by technology architectures, business units and geographies. This siloed approach introduces risks relating to efficiency, optimization and security. However, managing infrastructure asset data with a centralized, cloud-based approach minimizes these risks.

3. Sustainability

IT asset management is heeding the ever-growing call for sustainability with a burgeoning emphasis on green IT practices, including the ecofriendly disposal or recycling of old IT assets.

This transition is not just about ticking a corporate responsibility checkbox. It’s also about future-proofing organizations, minimizing ewaste and championing a cause that resonates with both stakeholders and consumers.

Organizations are integrating a range of ecoconscious strategies, from partnering with certified ewaste recyclers to adopting circularity in their IT asset lifecycles. (Circularity refers to designing, producing and managing IT products in a way that focuses on reusing and recycling assets.) Understanding their infrastructure assets’ current state and lifecycle, from order to decommission, supports sustainability strategies and, ultimately, the greening of IT.

• ALSO READ → Want to become more sustainable? Start with your technology

4. IoT

The IT landscape is no longer just about servers, computers and software. IoT is also weaving its way into the fabric of IT asset management.

As vast arrays of devices, ranging from smart thermostats to connected coffee makers, join enterprise networks, the challenge lies in managing and securing them.

While the proliferation of IoT improves operational efficiency, among other benefits, it also creates a need for comprehensive, IoT-focused asset management to keep security vulnerabilities in check and minimize downtime. Accurate tracking of assets’ locations, software versions and end-of-support dates is therefore critical.

5. Security

At a time when cyberthreats are multiplying rapidly around the world, enhanced security in IT asset management is essential. Not knowing which devices are connected to a network – or the software versions running on those devices – introduces avoidable security risks. Compliance breaches or security lapses can result in significant financial and reputational damage.

Real-time monitoring tools and robust security protocols are therefore becoming standard components of IT asset management suites. These solutions provide peace of mind, ensuring assets are not only managed efficiently but also shielded from potential threats.

Adapt now for tomorrow’s growth

The future of IT asset management seems both promising and challenging. The trends we’ve highlighted underscore the dynamic nature of the field, and adapting to these shifts is crucial for IT asset management professionals and organizations alike.

But, by embracing AI-driven insights, championing sustainability and fortifying security in asset lifecycle management, organizations can stay on track for growth and innovation.