Leveraging ServiceNow For Asset Management

10 Jun, 2014

Tracking your IT enterprise across all your work spaces is important for your company’s success and for reduction in wastage of assets like manpower, financials, time and infrastructure. Basically all your business functions need to work in harmony ( reduced noise) and coordination to your business goals.
The ServiceNow asset management portfolio tracks the financial, contractual and inventory details of hardware, software and virtual infrastructure – as well as non-IT assets – throughout their lifecycle. Asset requests are handled using workflows to obtain approvals, validate entitlements, issue chargebacks, provision services and more. Once an asset is deployed, Asset Management records all maintenance activity and enables IT to perform regular audits, right up until asset retirement.
ServiceNow’s Asset Management suite covers many aspects of your enterprise that in turn help in your business effectiveness and delivery.
Entitlement-based Software Asset Management- As software costs continue to rise and the risk of getting audited increases, Software Asset Management (SAM) helps organizations track software used in the enterprise. SAM collects data from discovery tools and other sources to capture an accurate inventory of the software the organization is actually consuming as well as what has been purchased. ServiceNow Asset Management breaks the vicious cycle of blindingly purchasing more software every year by exposing unauthorized users of software that lack the entitlements approved by IT. License managers can make decisions around how to allocate expensive suite licenses and upgrade and downgrade rights in order to further optimize software investments.
Business Policy-Driven Configuration Management and Asset Integration- ServiceNow Asset Management is the only asset solution that lets the business decide which assets to integrate into the configuration management database in a seamless manner. By having both ServiceNow Asset Management and ServiceNow Configuration Management on the same platform, the traditional challenges around data integration, normalization and data reconciliation are eliminated. As new assets get added to the system, the business rule engine takes action and creates CI records when necessary.
Easy Catalog Planning With Vendor Data- Asset managers can now support their end-users directly by placing asset offerings straight into the service catalog. Asset management offers an easy way to take in data from vendors and define which asset standards should be offered in the organization. Asset managers can do this directly from the asset system, without the need to build complex web pages or ask another group to do so. As catalog items are published, asset managers can also decide which group of users should be allowed to order the asset. And internal and recurring pricing is supported to account for different chargeback models.
Asset Provisioning– When new requests come in for assets, fulfillment personnel can quickly review available inventory from stockrooms. This means that an organization can provide quicker service for commonly requested goods. It also allows the organization to repurpose assets that have been returned. For requested items that are not in stock, ServiceNow makes it easy to create a purchase order with a single click. Ordered assets are tracked and eventually arrive on the loading docks, where they are received and automatically created in ServiceNow. In this very important step, asset records are created cleanly from the beginning with complete data related to the asset model, user request, order, cost and much more. The benefit is that the received assets go into production much faster since it is clear who requested the asset, where it is needed and for what purpose.
Automated Inventory Management– Asset Management manages stockroom assets including hardware, software, consumables and any other type of asset. IT can define a hierarchy of stockrooms, both physical and logical. For each model of asset to be maintained in stock, simple threshold levels are defined that manage inventory and take action when levels run low. The automated rules will either pull stock from a parent stockroom or process instructions to buy more from a vendor. The advantage of managing inventory with ServiceNow Asset Management is that adequate stock can be kept on hand for commonly requested assets. The organization can more quickly provision employees with the assets they need to stay productive, without over-spending on excessive inventory.
Total Cost of Ownership Expense Tracking– Asset Management serves as a repository of all costs associated with assets throughout their lifecycle. This can include the initial acquisition cost, lease charges, warranty fees, support and maintenance contract payments, labor charges and more. By capturing all costs, asset managers can determine the actual lifecycle costs for the assets. With this type of data, organizations can identify areas of excessive cost and find ways to optimize spending.
Contract Management- Asset Management includes a full contract management system to organize all contract data. This includes the ability to define any number of contract types and create contracts against them. IT managers can assign contracts to team members and leverage the workflow engine in ServiceNow to automate the approval and renewal process. Asset management helps IT track the key terms and conditions of contracts to make them easily searchable, and includes document management for version control and storage of electronic documents. Contract payment information is also tracked, including the ability to generate expense lines on a schedule. Both assets and users can be associated with contracts making it absolutely clear how the contract is utilized and how to allocate costs. Finally, contract management includes many reports, dashboards and notifications so that the organization is fully aware of pending expirations, costs distributions and other important contract information.
Benefits Of ServiceNow Asset Management to Enterprise IT- Inaccurate inventory, wasted resources, compliance issues and service delays are all risks faced by enterprise organizations every day. And they have serious consequences if not addressed. To mitigate risk, organizations should understand the assets they have: where they are, who uses them, how they are used, how they are configured, what they cost, and the value that they deliver. With ServiceNow Asset Management, IT can:
Depend on One Source of Truth

  • Make informed strategic decisions about capacity, asset refresh, vendors and more using complete and accurate asset portfolio data consolidated in a single system of record
  • Access both business and configuration information on assets by linking the asset repository with the ServiceNow Configuration Management Database (CMDB)
  • View a single pane dashboard that shows the organization’s software portfolio, including what is owned and what software is being consumed
  • Monitor Key Performance Indicator (KPI) trends with ServiceNow Performance Analytics

Reduce Costs

    • Lower software spend by identifying which users need more expensive licenses versus those that need licenses for only more basic software versions
    • Manage wasted resources by identifying and removing underutilized assets
    • Automate asset lifecycle processes in order to eliminate repetitive human tasks
    • Lower maintenance contract costs by consolidating vendors and asset models and retiring contracts that no longer provide value to the business
    • Influence demand by displaying asset prices in the ServiceNow Service Catalog and issuing chargebacks using ServiceNow IT Cost Management

Enhance Governance

    • Control asset distribution by centralizing requests through a role-based service catalog
    • Enforce policies, contractual agreements and regulatory requirements when requests are submitted, using workflow to validate eligibility and obtain approvals before fulfillment
    • Confirm all requirements are met by periodically testing controls with ServiceNow IT Governance Risk and Compliance
    • Track which software is entitled to which machines or end-users so that unauthorized software can be flagged for removal

Mitigate Risks

    • Reduce audit preparation effort and accurately track software license compliance and usage
    • Notify contract owners when renewal and expiration dates approach to prevent lapses in coverage
    • Strengthen change management risk calculations by including business information about assets, such as age or lease expiration data.

Alcor is a preferred ServiceNow partner who believe that a consultative and process based approach to your IT concerns is key to effective enterprise management. Call Us at +1-(818)-835-3454 or write to us at Information@alcortech.com

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