This blog post was written by: Khalid Hafid, CEO onitnow
How do you ensure that your digital transformation strategy becomes successful? In our previous blog I discussed the 5 most common reasons why 70% of digital transformation projects fail and how your organization can take the right approaches to avoid this fate. I stressed that digital transformation can be complex and that IT asset management plays a big role in successful execution of any digital transformation. However, before rushing into any kind of digital transformation it is important to scope out how ITAM as a key component can structurally contribute to a successful digital transformation strategy for your organization. If you are still hesitating what benefits ITAM can bring to the table for your organization during a transformation? Well I’ve got your back!
Through an array of 10 core ways we explain how ITAM can be beneficial and how these benefits can stick to your organization’s transformation goals.
1.Reduce wasting resources through visibility:
It is common for organizations to focus on the digital transformation itself and have less awareness of any excessive usage of resources during digital transformation. It is usual to see that focus switches to reducing cost after “completing” or close to ending the transformation. This is where attention scatters. To prevent your organization going down the same route ITAM provides a comprehensive and simultaneously a clear view your organization’s technology assets, including hardware, software and licenses. This helps ensure that your organization is using its resources efficiently and effectively, even when you are in the middle of a digital transformation. Helping you keep focus and thinking pro-actively on how to set up the underlying “infrastructure” for the transformation, future-proofing your set-up.
2.Asset tracking to increase workflow efficiency:
In most cases, digital transformation is driven by having technology contribute in a way that it supports the business in an efficient way. ITAM helps to track and manage the lifecycle of an organization’s technological assets, from procurement to disposal. This ensures that your organization has the right assets in the right place to support the business needs, enabling control and assure you that those assets are being used efficiently.
You will probably recognize this point if your organization uses a broad set of applications, software licenses and contracts. Maintaining compliance is a complex task and requires a lot of attention and specific knowledge. Effective ITAM ensures that an organization is properly licensed for the software it uses, which is essential for avoiding legal issues and maintaining compliance whilst simultaneously reducing the chance of over-licensing and wasting valuable business resources.
4.Cost control for short term and FinOps or long term:
A digital transformation should not only aim to realize short term goals, but set you up to realize long term goals. As digital transformation affects a large part of your business and also your customers it is important to keep costs in check so that you are able ensure your competitiveness in the space you are operating in. ITAM plays a key role in optimizing the technology spending. By identifying opportunities to negotiate better terms with vendors, reduce software licensing costs, and retire or repurpose underutilized assets. By implementing FinOps principles in your ITAM practices you are able to educate and engage your teams more, improving decentralized control in the era of Cloud and SaaS.
5.New opportunities = New Risks. Risk management:
Whilst undergoing a digital transformation unmatched opportunities and capabilities for your organization arise. Whether it’s about becoming a data-driven company, automating processes or digitizing your customer and employee experiences. These new opportunities and capabilities also provide new risks for your organization and you will have to deal with these accordingly. Especially in terms of IT, risks are unavoidable and ever present. Managing risks is essential for the organizations success and survival. ITAM helps in mitigating risks associated with technology assets such as data breaches, cyber-attacks, compliance risks, etc.
For a successful digital transformation, the right amount of resources, provided at the right time, in the right place are required. Effective ITAM ensures that you have an overview of your resources and enables you to plan out and allocate resources accordingly. With this ITAM has a key-role in keeping track of your assets during any digital transformation and making the right choices related to procuring additional resources or optimizing your set up and required resources.
Having insight in your inventory of resources goes hand in hand with planning and allocating your resources. Without knowing what you have available for use you are unable to plan and allocate successfully. Is your organization still using spreadsheets to store data and insights regarding resources and contracts? If this is done manually, it is inherently error prone and accuracy is subject to the manual inputs. Usually the processes followed differ from person to person. ITAM practices and processes ensure that there is a systematic and methodological approach towards inventory management. Implementing a tool could provide further efficiency and accuracy. Enabling your organization to make conscious and informed decisions before, during and after digital transformations.
During digital transformations one of the last things people think about is lifecycle management. However it still remains an important point to ensure security and future proofing of the solution. Ensuring compatibility and interoperability is required to keep your solution up to requirements and available. ITAM provides a process to keep track of software lifecycles, simplifying maintenance and identifying potential risks towards your solution. Over time updates to parts of your solution will be required. ITAM provides a way to keep track of versions of applications being used and ensures the solution you built remains relevant and keeps providing you with the advantages for which you initiated the transformation.
9.Service management integration:
During a digital transformation it is important to think about service management integrations. How will the applications used for the solution implemented during transformation be managed from a service management perspective? If issues arise they need to be remediated as soon as possible. ITAM provides information for ITSM regarding the hardware and software used, where they are located and provide critical information for quick remediation of issues and reduce downtime to a minimum.
Digital transformation strategy opens up the possibilities to outline future goals and objectives your organization wants to work towards. In terms of goals regarding technology investments ITAM provides data and insights to make better informed decisions that can be aligned with the business goals. Having a clear and well informed planning for all participating parties allows a higher chance of succession. Therefore, a high level of attention should be allocated to strategic planning. ITAM provides the required data and information to make well informed decisions related to strategic planning.
Ready to take the first or next step?
How your organisation manages their IT assets can be of create impact during digital transformation. ITAM is your friend if you want to increase your chance at success and don’t want to let it stay at the 30% success rate when not making use of ITAM practices and principles.
Enterprise organisations that are moving to a more digital workforce are well aware of its potential need to consider implementing ITAM as an essential part of their digital transformation strategy. By using their technological assets in the most efficient and effective way possible, whilst simultaneously minimizing risk and maximizing cost savings they can stay ahead of their competition.
For companies currently in, or facing, a digital transformation ITAM is an incredible value add. Where ITAM provides insight and reduces some of the complexity that comes with a digital transformation. Maximizing business value whilst minimizing risk and waste. Future-proofing your solutions during the digital transformation and increasing your chance at success.
Do you want to know more about how ITAM can support your digital transformation? Please feel free to contact us directly via contact details found below or leaving your details using the contact form provided.
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