ITAM 2.0: Key Takeaways From The Pandemic Era

2020 was a year of unprecedented change with the global pandemic shaking the global financial markets, disrupting businesses and human lives. The challenges have transformed the way people work and live and the asset management is one departments across all organizations that has seen its users with in the organization, and technologies transform drastically. It has become important for asset managers to navigate the challenges to stay ahead of the curve and manage proactively.

For businesses today, the key to driving innovation, growth and efficiency lies in using emerging technologies like AI, advanced analytics and machine learning at scale, along with harnessing new sources of data.

The pandemic accelerated the relentless digitization of all businesses. A huge percentage of the world’s workforce started working from home. Many organisations had 100% of their employees working remotely. With this new, distributed IT environment, it became important for companies to know and monitor what goes on behind the firewall too. With more people taking their devices out of the organisation, the devices become vulnerable and start posing a threat to the company network. 

ITAM 2.0 is the next evolution of IT Asset Management and it can address the new security challenges of remote working in the Covid-19 era. In the ITAM 2.0 model, ITAM graduates to a complete function in itself with accurate data always ready for use. It provides complete visibility into the IT infrastructure allowing organisations to create an always-accurate single source of truth to inform all IT scenarios and strategic decision-making across the entire organisation. 

IT Governance and Cyber Security

While organisations focus on securing internal assets and data, there seems to be an increasing threat of insider attacks. According to Cybersecurity Insiders' 2020 Insider Threat Report, 70% of organisations have reported that inside attacks are more frequent now and 56% say detecting insider attacks has become difficult since migrating to the cloud. The statistics point to employees, contractors or partners who could be the source of the threat.

Connecting corporate laptops and devices to the home network opens new gateways for malware, ransomware and viruses. Sometimes employees may also use their corporate devices for personal work like surfing the internet, playing games or watching entertainment. If the user had local admin rights, this could easily lead to unwittingly clicking on ads or downloading an app, thus opening the door for malware to enter.

Moreover, often devices not within the corporate IT department's purview are also connected to the home network, which allows hackers to connect to corporate devices. With modern homes using IoT devices from Alexa to other appliances, which are connected to the home network, it further endangers the corporate assets and data of an organisation. Malware can survive undetected on a home laptop or IoT device for weeks, preparing to launch a large-scale attack, which would cause devastating damage and financial loss for the organisation.

Today, the reality is that corporate assets are everywhere, being connected to networks that contain vulnerable devices and ITAM 2.0 is built to tackle this new reality. With ITAM 2.0, organisations can collect, analyse and report on every IT asset within the office premises and outside the premises in real time, whenever or wherever they want, for any use, and gain an insight into the health and security of the entire infrastructure.

Having access to the information and visibility of the IT environments will alert IT departments of any potential vulnerabilities of unprotected device in the network that could pose a threat to corporate assets and data. This will help in regular inspection and verification. 

For IT Governance, a complete view of the IT infrastructure connected to the network is essential for compliance. ITAM 2.0 will help to detect and protect corporate assets and the organisation from the evolving and expanding danger of threat, in this growing need of remote working in the COVID 19 era.

At ESS, our IT Asset Management solution provides visibility of all IT assets with their status in the organization and a single repository for configuration information which helps to track the assets and compliance in all phases of its lifecycle from procurement to retirement.

ESS ITAM solution highlights

  • The ESS IT Asset Management software is designed to maintain an inventory of all the hardware and software within an organization to aid decision-making regarding hardware and software purchases and redistribution.

  • It is a comprehensive asset configuration and asset life-cycle solution that starts with the initial procurement and goes through to the retirement of the asset or software with processes and controls at each stage.

  • The solution helps to monitor assets throughout their lifecycle with requests to purchase assets handled through approval workflows. The software also handles acquisition details such as entitlement, chargebacks and provisioning. After deployment of the ESS solution, all maintenance activities are recorded and audits are performed till assets are retired from service.