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IT Asset Management helps organizations track hardware, software, cloud resources, and other technology assets throughout their lifecycle. Learn how ITAM improves visibility, strengthens cybersecurity, supports compliance, and enables better technology decisions.
Level
Friday, June 26, 2026
Every organization depends on technology to operate, but managing that technology becomes increasingly difficult as environments grow. Laptops, servers, mobile devices, cloud resources, virtual machines, and software licenses all need to be tracked throughout their lifecycle. Without an accurate understanding of what assets exist, where they are located, and who is responsible for them, organizations face higher costs, increased security risks, and operational inefficiencies.
IT Asset Management (ITAM) is the practice of tracking and managing hardware, software, and other IT assets throughout their lifecycle to optimize technology investments, reduce risk, and support business operations.
According to the National Institute of Standards and Technology (NIST SP 1800-5), IT asset management establishes and maintains an inventory of physical and virtual assets so organizations can identify what technology exists, where it resides, and how it is being used. That visibility supports stronger operational management and cybersecurity.
IT Asset Management is a structured approach to managing technology assets from acquisition through retirement. It helps organizations maintain accurate records while supporting financial planning, operational efficiency, cybersecurity, and regulatory compliance.
IT assets commonly include:
The internationally recognized standard ISO/IEC 19770-1:2017 defines the requirements for establishing, implementing, maintaining, and continually improving an IT asset management system. The standard applies to organizations of all sizes and provides a framework for managing IT assets consistently throughout their lifecycle.
Organizations cannot effectively manage or secure technology they do not know exists.
The NIST Cybersecurity Framework 2.0 identifies asset management as a foundational element of cybersecurity because understanding enterprise assets enables organizations to identify risks, implement protections, detect threats, respond to incidents, and support recovery activities.
An effective ITAM program helps organizations:
As IT environments expand across on-premises infrastructure, cloud platforms, and remote endpoints, maintaining an accurate inventory becomes increasingly important.
Every IT asset moves through several lifecycle stages.
Organizations identify business requirements before purchasing hardware or software. Standardized procurement helps improve consistency while reducing unnecessary purchases.
Assets are configured, assigned to users, documented, and entered into the organization's inventory before being placed into production.
Throughout daily use, organizations monitor ownership, location, configuration, software versions, warranty status, and lifecycle changes.
Both ISO/IEC 19770-1:2017 and NIST SP 800-53 Revision 5 emphasize maintaining accurate asset information throughout operational use. Within NIST SP 800-53, Configuration Management control CM-8 requires organizations to maintain inventories of system components that support accountability, security management, and operational oversight.
When assets reach the end of their useful life, organizations retire equipment, remove sensitive information, update inventory records, and dispose of assets according to organizational policies.
Maintaining accurate lifecycle records supports operational efficiency and helps reduce security risk throughout an asset's lifespan.
IT Asset Management includes both hardware and software assets.
Hardware asset management focuses on physical technology, including:
Organizations typically maintain records that include ownership, location, configuration, purchase information, warranty status, and lifecycle stage to ensure assets remain visible throughout their use.
Software asset management focuses on software installations, licensing, version control, entitlement tracking, renewals, and compliance.
The U.S. Government Accountability Office's report Federal Software Licenses: Agencies Need to Take Action to Achieve Additional Savings (GAO-24-105717) demonstrates how effective software license management can improve accountability while helping organizations avoid unnecessary software expenditures.
Cybersecurity depends on visibility.
If an organization does not know a device or application exists, it cannot effectively monitor, patch, or secure it.
The Center for Internet Security (CIS) Controls v8.1 identifies enterprise asset inventory and control as the first CIS Control because organizations must first identify enterprise assets before implementing other security safeguards.
Similarly, the Cybersecurity and Infrastructure Security Agency (CISA) Cybersecurity Performance Goals recognize asset inventory as one of the foundational cybersecurity practices for reducing organizational risk.
For organizations managing operational technology environments, CISA's Foundations for OT Cybersecurity: Asset Inventory Guidance for Owners and Operators explains how comprehensive asset inventories improve operational resilience while supporting cybersecurity programs.
Modern cybersecurity strategies increasingly rely on Zero Trust principles.
Rather than automatically trusting users or devices, Zero Trust requires continuous verification based on identity, device health, and organizational policy.
The U.S. Office of Management and Budget memorandum Moving the U.S. Government Toward Zero Trust Cybersecurity Principles identifies comprehensive device inventories as a key component of Zero Trust implementation across federal agencies.
Likewise, the CISA Zero Trust Maturity Model Version 2.0 highlights continuous asset visibility as an important capability for implementing mature Zero Trust architectures.
Organizations with mature ITAM programs generally follow several established practices.
Inventory should include hardware, software, virtual machines, cloud resources, and other technology assets connected to the organization's environment.
Collecting consistent information such as owner, location, serial number, lifecycle status, warranty details, and software versions improves reporting and operational oversight.
As assets are purchased, reassigned, upgraded, or retired, inventory records should be updated to reflect those changes.
Frameworks such as ISO/IEC 19770-1:2017, NIST SP 1800-5, NIST Cybersecurity Framework 2.0, and the CIS Controls provide widely recognized guidance for building effective IT asset management programs.
Maintaining accurate asset inventories becomes more complex as technology environments evolve.
Organizations commonly face challenges such as:
Maintaining complete and accurate inventories across these environments requires consistent governance and lifecycle management.
IT Asset Management and IT Service Management (ITSM) support different objectives, although they often work together.
ITAM focuses on managing the lifecycle of technology assets, including procurement, inventory, maintenance, and retirement.
ITSM focuses on delivering and supporting IT services through practices such as incident management, change management, and service request fulfillment.
Accurate asset information strengthens ITSM processes by giving service teams better visibility into the devices, software, and infrastructure supporting business operations.
An IT asset is any technology resource that provides value to an organization. Examples include computers, servers, software licenses, networking equipment, mobile devices, cloud resources, and virtual machines.
Hardware asset management focuses on physical devices throughout their lifecycle, while software asset management focuses on software installations, licensing, compliance, renewals, and usage.
Accurate asset inventories improve operational visibility, support cybersecurity, simplify compliance efforts, and help organizations make informed technology decisions.
No. The principles defined in ISO/IEC 19770-1 apply to organizations of any size. Small businesses, enterprises, government agencies, educational institutions, and nonprofit organizations can all benefit from structured IT asset management.
Maintaining an accurate inventory is one of the core goals of IT Asset Management. For IT teams and managed service providers, having centralized visibility into managed devices makes it easier to maintain current asset records, understand endpoint configurations, and support lifecycle management.
Level helps organizations improve endpoint visibility by providing centralized device information alongside remote monitoring, patch management, and systems administration capabilities. Used as part of a broader IT Asset Management strategy, it can help IT teams maintain more accurate operational records while supporting day-to-day management activities.
IT Asset Management provides organizations with the visibility needed to manage technology throughout its lifecycle. By maintaining accurate inventories of hardware, software, cloud resources, and virtual assets, organizations can optimize technology investments, strengthen cybersecurity, improve operational efficiency, and support compliance efforts.
International guidance from organizations including NIST, ISO, CISA, CIS, GAO, and the U.S. Office of Management and Budget demonstrates that asset visibility is a foundational capability for effective IT operations and modern cybersecurity. As technology environments continue to grow in complexity, a structured IT Asset Management program becomes increasingly important for organizations of every size.
At Level, we understand the modern challenges faced by IT professionals. That's why we've crafted a robust, browser-based Remote Monitoring and Management (RMM) platform that's as flexible as it is secure. Whether your team operates on Windows, Mac, or Linux, Level equips you with the tools to manage, monitor, and control your company's devices seamlessly from anywhere.
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