24th March, 2022
TABLE OF CONTENTS
It's imperative to know how your IT asses are used and whether they are serving the purpose or not. Many important metrics of IT asset management (ITAM) help to analyze and understand the utilization of IT assets.
IT asset management (ITAM) manages the lifecycle of an organization's IT assets. It ensures that all the assets within an organization are accounted for, deployed, maintained, upgraded, and terminated correctly. Tracking and managing IT assets can be challenging, but with the right set of tools and practices, an organization can optimally manage its IT assets.
IT asset management (ITAM) involves managing hardware, cloud, and software assets of the organization. A major advantage of properly managing hardware assets is that it ensures that all hardware is optimally utilized and allocated to relevant individuals. Similarly, managing software assets helps organizations to reduce the risk associated with shadow IT and eliminate duplicate applications and licenses.
In cloud asset management, organizations manage remotely provisioned cloud infrastructure and resources to ensure that they are used properly and that there is no wastage of resources.
Hardware assets such as laptops, desktops, monitors, mobile phones, printers, etc., are crucial assets, and it's necessary to properly manage them. Proper management of hardware assets ensures that all assets are optimally used, and future demands can be predicted based on the current utilization metrics. Similarly, software assets such as SaaS applications for accounting, HR, and other purposes. It is critical to managing software assets so that no licenses are unused and all demands can be fulfilled in the organization.
IT asset management (ITAM) gives you a holistic view of the organization while identifying the gap, efficiencies, and inefficiencies of IT, HR, operations, project management, service-oriented functions, and cybersecurity.
In this post, we’re going to discuss some of the metrics that organizations should track to ensure that IT assets are properly managed. We will be covering metrics related to the management of software and hardware assets only in this post.
There are different metrics that show the efficiency of your organization's IT asset management (ITAM) practices. From the number of used licenses to unused licenses to spare laptops, all show how efficiently your organization's software and hardware assets are managed. To keep on track and minimize the wastage of IT assets, it's essential to look at different relevant metrics which help to optimize your organization's IT assets cost by ensuring that no work is affected at the same time.
Hardware assets are paramount and essential for conducting business work, and it facilitates employees to various tasks. While discovering and tagging different hardware assets is the first step to ensuring that all assets are monitored. It is also important to understand different assets' depreciation rates and how they are performing over time. This gives an idea about the future demands and replacements of the assets.
Some of the metrics which you should track for your hardware assets are discussed below:
Assets utilization: This shows out of total assets available in the organization how many are being used. The large difference between the total number of assets and used assets shows that hardware assets are not efficiently used. It can be because of bulk procurement of the assets for keeping buffers.
But it is important to understand that hardware assets are depreciating in nature, so they must be procured thoughtfully to minimize the number of unused assets. Organizations should also dig deeper into this by understanding department-wise usage metrics of the allocated assets.
The number of assets under maintenance: This also gives an idea about how many assets are not in utility but can be used once their maintenance is completed. It will help in reducing the unnecessary purchase of the assets.
The average cost of a workstation: This will help in financial projections for procurement of new assets as your company grows. A simple workstation can have a laptop or desktop, printer, and other hardware assets based on the needs of the users.
The average age of different assets: Knowing the life of every hardware asset helps in proper planning for replacement as well as in financial projections. Further, it helps companies to minimize the unnecessary procurement of the assets if their life is less.
Proper management of software assets not only saves cost and time but also reduces the effort required for fulfilling the new requirements. Tracking the software metrics has many benefits like the metrics acting as a baseline for future decisions, making audits easier, etc.
While taking the inventory of all softwares used in the organization is the basis, some other things which you should measure are the number of licenses that are being used, unused licenses, and department-wise applications distribution.
Some of the metrics which you should track for your software assets are discussed below:
Software license compliance: It is one of the measure metrics to track with your software asset management tool. It is important to understand software compliance with license entitlements, renew expiring licenses, unauthorized software, and out-of-compliance licenses.
This shows the status of active and expired licenses. Furthermore, you can set alerts to get notified about any upcoming licenses renewal or expiry. It is also important to ensure that all licenses are legally compliant and in line with the software vendor contract agreement.
You can maintain a centralized database for all your software licenses and find out all the illegal, risky, and blacklisted software running in your organization. This way, you can ensure that software licenses are compliant.
The total number of licenses in use: Measuring the number of used licenses gives an overview of how efficiently licenses are used out of total procured licenses. Further, it forms a baseline for future license requirements and financial planning for future license requirements. Organizations can use tools like Zluri to discover all software licenses.
The average number of software per user: Large organizations use more than 100 softwares for various purposes such as accounting, payroll management, collaboration, etc. The distribution of software licenses in the organization across different departments, as well as how much softwares of different types is needed, helps you understand the current and future needs of the softwares.
Zluri is a SaaS management platform that enables organizations to gain complete control over their SaaS applications. With Zluri, organizations can automate various tasks like onboarding, offboarding, compliance management, etc.
Zluri has the largest app library with over 120000+ applications. Zluri discovery engine uses five methods to discover all your apps with near 100% accuracy.
Some of the key features of Zluri are:
Applications Cost Optimization: Zluri helps you standardize your applications and eliminate budget wastage. Zluri traces your SaaS ecosystem and monitors, measures, and helps you take control of your SaaS spend. It also helps you find the hidden apps spend.
Renewal Monitoring & SaaS Buying: With Zluri, you don't need to worry about surprise renewals. Zluri alerts about your upcoming renewals, giving you enough time to decide whether or not you need the app. You can decide that through the SaaS usage insights from Zluri.
Vendor Management: Zluri has an automated vendor management system with all the features needed to manage your SaaS stack. It maintains a SaaS system of record by integrating with your core business system, after which it prepares to maintain your vendor life cycle with your predefined workflows.
Automated employee onboarding & offboarding: Zluri has a powerful automation engine that enables organizations to give or revoke access to employees with a few clicks. Further, its contextual recommendation system provides information about which applications a new employee needs to be, based on the department and seniority of their role. It also suggests different channels/groups to which an employee should be added.
10% of company revenue is spent on SaaS. It’s a staggering metric, and a high percentage of income is wasted inefficiently on business tools. In comparison, companies spend, on average, 15% on employees annually.
With this explosion of SaaS at companies, there arise SaaS challenges caused by apps getting out of your control. These SaaS challenges varies in three dimension: spend management, security and complance risks, and various SaaS operations tasks like automating SaaS procurments, renewals, employees onboarding and offboarding.
‘Muda’ is used to describe any activity that uses resources but doesn't generate value. It is the Toyota system for identifying and eliminating waste in all forms. It is the same thing that helps Toyota sell more cars than Ford, General Motors, and Honda at a higher margin.
An obese SaaS stack leads to SaaS wastage. It's a disease! It not only causes financial issues but also gives you security and compliance problems. That's why you must keep tight control on your SaaS stack. And it begins with managing your SaaS vendors.
In this post, we've discussed 7 symptoms of an unoptimized SaaS stack and solutions to optimize the same.
The IT deployment success rate will help you to analyze the potentiality of the systems deployed for business growth.
IT teams must equip themselves with the latest skills and knowledge and keep an eye on the latest technology updates and releases.
Today, the adoption of digital transformation is imperative for every business to survive and thrive in a highly competitive marketplace. Business benefits of digital transformation include higher enterprise-wide productivity and efficiency, enhanced user experience, in-depth and accurate insights, faster and better business decisions, and improved agility and innovation, resulting in increased business revenue and sustainability. We have got the 20 best books that can help you accelerate your digital transformation journey. Let's dive right in. 20 Best Books for Digital Transformation Adoption and Acceleration 1. Digital Transformation Playbook: Rethink Your Business for the Digital Age by David L. Rogers 2. Digital Transformation: Survive and Thrive in an Era of Mass Extinction by Thomas M. Siebel 3. Agile IT Organization Design: For Digital Transformation and Continuous Delivery by Sriram Narayan 4. The Technology Fallacy: How People Are the Real Key to Digital Transformation by Gerald C. Kane, Anh Nguyen Phillips, Jonathan Copulsky, Garth Andrus, Paul Michelman (Editor) 5. Building the Agile Business Through Digital Transformation: How to Lead Digital Transformation in Your Workplace by Neil Perkin (Goodreads Author), Peter Abraham (Goodreads Author) (Co-author) 6. Digital Transformation at Scale: Why the Strategy Is Delivery by Andrew Greenway, Ben Terrett, Mike Bracken, Tom Loosemore 7. AI Superpowers: China, Silicon Valley, and the New World Order by Kai-Fu Lee 8. Clearing the Digital BLUR: How Organizations Can Transform Themselves At the Speed of Digital by Rajiv Jayaraman 9. Platform Scale: How an emerging business model helps startups build large empires with minimum investment by Sangeet Paul Choudary 10. Platform Revolution: How Networked Markets Are Transforming the Economy--and How to Make Them Work for You by Geoffrey G. Parker, Marshall W. Van Alstyne, Sangeet Paul Choudary 11. Modern Monopolies: What It Takes to Dominate the 21st Century Economy by Alex Moazed, Nicholas L. Johnson 12. Edge: Value-Driven Digital Transformation by Jim Highsmith, Linda Luu, David Robinson 13. IT Strategy: A 3-Dimensional Framework to Plan Your Digital Transformation and Deliver Value to Your Enterprise by Jim Maholic 14. 77 Building Blocks of Digital Transformation: The Digital Capability Model by Jace An 15. Mastering Digital Business: How powerful combinations of disruptive technologies are enabling the next wave of digital transformation by Nicholas D. Evans 16. The Digital Matrix: New Rules for Business Transformation Through Technology by Venkat Venkatraman 17. Agile Transformation: Structures, Processes, and Mindsets for the Digital Age by Neil Perkin 18. The Transformation Files: 17 Insights to Inspire Managers and Leaders in the Transformation of a Digital Economy Business by Rob Llewellyn 19. The Future Is Faster Than You Think: How Converging Technologies Are Transforming Business, Industries, and Our Lives by Peter H. Diamandis, Steven Kotler 20. The Industries of the Future by Alec J. Ross Conclusion 1. Digital Transformation Playbook: Rethink Your Business for the Digital Age by David L. Rogers Rogers explores digital transformation phenomena and what distinguishes organizations that successfully adapt and thrive in the digital world. With a decade of experience in global business consulting and teaching at Columbia Business School, Rogers explains how established companies can refresh their game plans to capture new opportunities in the digital world. Pick this book for: The book focuses on practical tools and strategies for all businesses, big and small, across all industries, useful in decision making and strategy formulation. It contains case studies for a detailed illustration of concepts. The Digital Transformation Playbook is an indispensable guide for executives that explains how legacy businesses can transform to thrive in the digital era. Goodreads Rating: 4.15/5 (522 ratings) 2. Digital Transformation: Survive and Thrive in an Era of Mass Extinction by Thomas M. Siebel In his book, Tom Siebel provides much-needed clarity on digital transformation. The book talks about the convergence of four significant technology forces – big data, cloud computing, Artificial Intelligence, Internet of Things, and how they have revolutionized businesses in private and public sectors. In his book, Tom illustrates the real-life digital transformation case studies at Caterpillar, 3M, U.S. Air Force, and Royal Dutch Shell and explains how top executives in an enterprise can successfully drive digital transformation. Pick this book for: Besides helping his readers understand digital transformation, Tom offers actionable advice and concrete guidance for a successful digital transformation adoption. Goodreads Rating: 4.04/5 (300 ratings) 3. Agile IT Organization Design: For Digital Transformation and Continuous Delivery by Sriram Narayan In the book, Sriram Narayan explores organizational design by IT leadership for IT organizations. He leverages his industry experience, existing literature on organizational design, and well-regarded work on a team and individual psychology to synthesize an Agile IT organizational design that could benefit the enterprise IT. The book is a framework and standards agnostic and discusses problems, explores reasons, and provides solutions. The book is for top-level executives and IT governance group members for medium to large IT organizations that face business and IT agility challenges. Pick this book for: Sriram has used real-life examples to help you evaluate and enhance enterprise designs to improve mastery, autonomy, and purpose. Goodreads Rating: 4.07/5 (153 ratings) 4. The Technology Fallacy: How People Are the Real Key to Digital Transformation by Gerald C. Kane, Anh Nguyen Phillips, Jonathan Copulsky, Garth Andrus, Paul Michelman (Editor) The book explains why an organization should focus more on processes and people than on technology to respond to digital disruption. The authors leverage their four years of research in partnership with MIT Sloan Management Review and Deloitte, interviews with managers in organizations, including Google, Walmart, Salesforce, and surveying 16,000+ people. They argue that businesses can successfully respond to digital disruption by changing the organizational culture to be more risk-tolerant, agile, and experimental. Pick this book for: The book guides business leaders and managers to survive digital disruptions by making organizational changes to harness technology’s power. Goodreads Rating: 4.17/5 (137 ratings) 5. Building the Agile Business Through Digital Transformation: How to Lead Digital Transformation in Your Workplace by Neil Perkin (Goodreads Author), Peter Abraham (Goodreads Author) (Co-author) The book guides the change managers and enterprise development professionals to understand, implement, and learn the workplace digital transformation. By setting aside the outdated strategies and traditional thinking, the book focuses on creating enterprise velocity, removing unnecessary processes, establishing iterative working, mapping strategy to motivation, embed innovation, and developing talent to succeed. Pick this book for: The book efficiently delivers information to audiences of varied experiences and levels. It offers real-world case studies coupled with practical advice with more technical and academic knowledge and serves as an essential guide to building an agile organization. Goodreads Rating: 4.32/5 (56 ratings) 6. Digital Transformation at Scale: Why the Strategy Is Delivery by Andrew Greenway, Ben Terrett, Mike Bracken, Tom Loosemore ‘Digital Transformation at Scale’ guides the readers on how to build a digital institution. It explains how reformers in governments and businesses have globally enabled their enterprises' pivot to this noble way of working, with the lessons learned from their experience. Pick this book for: The authors leverage their experience in designing and delivering the UK government's successful ‘Government Digital Service' (GDS), the new institution responsible for the digital transformation of government, creating public services for the internet era. Besides snipping GBP4 billion off the government's technology bill, GDS opened up public sector contracts to thousands of new suppliers and became tremendously popular among citizens with its superior-quality online services without a big marketing campaign. Private sector companies and other countries notified the GDS model’s success, and it's now being copied across the world. Goodreads Rating: 4.27/5 (81 ratings) 7. AI Superpowers: China, Silicon Valley, and the New World Order by Kai-Fu Lee In ‘AI Superpowers,’ Dr. Kai-Fu Lee reveals that China has rapidly caught up with the US at an astonishing speed. According to Lee, Chinese and American AI will significantly impact white-collar jobs besides having a devastating effect on the blue-collared jobs as predicted by most experts. Lee claims that these unprecedented AI developments lead to dramatic changes much sooner than expected. Pick this book for: He further explains the jobs that will be affected and those that can be enhanced with AI and discusses how we can offer solutions to some of the most significant changes in human history. Goodreads Rating: 4.16/5 (8,422 ratings) 8. Clearing the Digital BLUR: How Organizations Can Transform Themselves At the Speed of Digital by Rajiv Jayaraman The new breed of competitors like Google, Facebook, Amazon, and Alibaba are disrupting the industries using innovative strategies beyond the understanding of most seasoned enterprises. The book helps you understand how these digital-born enterprises perceive the world around them. Besides helping you transform your organization to compete in today's digital rat-race, the book explains how to thrive in the digital age. Pick this book for: Tackling the digital challenge calls for a fresh perspective compared to the industrial age management playbooks. ‘Clearing the digital BLUR’ serves as a guidebook for managers and leaders to accelerate digital adoption, backed by a modern strategy, leadership, execution, and culture. It offers a holistic approach to digital transformation through practical insights in actionable frameworks, case studies, worksheets, and leaders’ interviews. Goodreads Rating: 4.33/5 (12 ratings) 9. Platform Scale: How an emerging business model helps startups build large empires with minimum investment by Sangeet Paul Choudary Contrary to selling a product or service, today’s massive scaling startups build a platform for others to create and exchange value. Some of the examples are social media, the Internet of Things, cryptocurrency, and more. Yet, most platform ideas fail due to a lack of proper understanding of the business design and growth strategies. Pick this book for: Platform Scale not only writes down a structured approach to designing and scaling a platform business model, but it also addresses the key aspects that can succeed or fail businesses through six core concepts. Goodreads Rating: 4.23/5 (415 ratings) 10. Platform Revolution: How Networked Markets Are Transforming the Economy--and How to Make Them Work for You by Geoffrey G. Parker, Marshall W. Van Alstyne, Sangeet Paul Choudary Fact-based, authoritative, ‘Platform Revolution’ is the first of its kind of “owner’s manual” for successfully creating a platform business model. It explains various ways for newbies to identify prime markets and monetize the network. It reveals strategies behind the upcoming business platforms to current business leaders and explains how traditional organizations can adapt to the change. Pick this book for: Besides discussing regulation, security, and consumer trust and examining markets that may be mature for a platform revolution, the book explains the bright prospect of platforms. It shows how they will change the careers and lives of millions forever. Goodreads Rating: 4.13/5 (2,845 ratings) 11. Modern Monopolies: What It Takes to Dominate the 21st Century Economy by Alex Moazed, Nicholas L. Johnson Platforms like Google, Amazon, Snapchat are game-changers. Rather than making things, these platforms create value by connecting people and dominating everyone’s daily lives worldwide. Mobile computing has transformed how we interact and blend the physical and digital worlds. While these enterprises are expanding their influence from the digital world to the entire economy, just a few individuals genuinely grasp this radical structural shift. Pick this book for: In ‘Modern Monopoly,’ the authors explain what has changed, how it affects today’s organizations, and how business owners, entrepreneurs, and managers can adapt and succeed in the new era. Goodreads Rating: 4.08/5 (585 ratings) 12. Edge: Value-Driven Digital Transformation by Jim Highsmith, Linda Luu, David Robinson In ‘Edge,’ the authors talk about the fast, adaptive, value-driven, iterative, lightweight, and powerful new operating model that helps achieve continuous innovation by closing the gap between digital strategy and execution. ‘Edge’ addresses three critical aspects, i.e., working together among the criticality of vital and rapid responses, allocation and tracking business investment funds for their goal and vision-based initiatives, and ways of rapid adaptation to thrive Agile. Pick this book for: The book delivers practical insights leveraging its authors’ unparalleled experience and pioneering clients. Goodreads Rating: 4.38/5 (42 ratings) 13. IT Strategy: A 3-Dimensional Framework to Plan Your Digital Transformation and Deliver Value to Your Enterprise by Jim Maholic With over a dozen IT executives and CIOs’ interviews, the book lays out the process from a blank whiteboard to an all-inclusive IT Strategy. ‘IT Strategy’ illustrates a range of technical and non-technical topics to facilitate readers to devise a road map to their desired future state and repeatedly emphasize the alignment of IT Strategic Planning with central business key performance measures and strategic business planning. Pick this book for: With 25+ years of IT Strategist stint, Jim Maholic has consulted with many reputed and largest enterprises in North and South America. He leverages his expertise to deliver a notably thorough and consistently precise guide in ‘IT Strategy.’ Goodreads Rating: 4.86/5 (7 ratings) 14. 77 Building Blocks of Digital Transformation by Jace An ’77 Building Blocks of Digital Transformation’ is a practical field book that explains the proven digital capabilities as the fundamental digital transformation blocks. It discusses the approach to assessing and enhancing digital capabilities for achieving successful digital transformation and is ideal for digital practitioners such as IT professionals, sales reps, marketers, digital planners, and digital consultants. The book consists of 12 mega capabilities (set of capabilities) and 77 capabilities. Pick this book for: The book serves as a ready-made yet highly customizable solution for those organizations that find it challenging to establish a robust and agile framework for their digital operations. Goodreads Rating: 4.83/5 (6 ratings) 15. Mastering Digital Business: How powerful combinations of disruptive technologies are enabling the next wave of digital transformation by Nicholas D. Evans ‘Mastering Digital Business’ serves as a strategic guide for IT and business executives. Today, mobile, cloud, intelligent automation, IoT, social, analytics, wearables, and robotics are some of the most disruptive technologies. Pick this book for: The author talks about how we can leverage these technology combinations and mastery in digital services, platform business models, and leading practices in corporate innovation to create and execute our digital strategies for competitive advantage. Goodreads Rating: 4.21/5 (14 ratings) 16. The Digital Matrix: New Rules for Business Transformation Through Technology by Venkat Venkatraman The book helps its readers understand the types of players forming the new business landscape, the transformations that every business will experience, and the winning moves to ensure your organization’s success. Pick this book for: It helps you learn to navigate the digital ecosystem world, discover how you can compete and collaborate with other organizations for creating and capturing value, realize how robust machines can maximize your organization’s human talent, and learn to assemble the team to experiment with new ideas, reassess your core beliefs, and reinvent your business strategy for the digital future. It explains how to rethink your business model, assemble the right team, and make bold strategic choices to harness digital technology. Goodreads Rating: 4.21/5 (14 ratings) 17. Agile Transformation: Structures, Processes, and Mindsets for the Digital Age by Neil Perkin ‘Agile Transformation’ offers practical advice and covers everything, including the need for new operating models, ways to apply agile principles at scale, how to leverage digital-native processes, and why change managers should think big but start small. Pick this book for: It discusses tackling the staff mindset that can hinder agile adoption, create and engage high-performing teams for change, and why a plan of starting an agile business need not fail. Featuring case studies from organizations including Amazon, Netflix, and Vodafone, this book is vital for businesses to compete in the new world of work effectively. Goodreads Rating: 4.5/5 (12 ratings) 18. The Transformation Files: 17 Insights to Inspire Managers and Leaders in the Transformation of a Digital Economy Business by Rob Llewellyn ‘The Transformation Files’ is a collection of critical success factors that every leader should focus on during digital transformation adoption. Rob leverages his two decades of experience in 30+ countries to help some globally renowned firms generate commercial value from people. Pick this book for: This knowledgeable and easy to read book is backed by relevant work experience and offers practicality to start applying the guidelines and insights immediately. Goodreads Rating: 4.33/5 (6 ratings) 19. The Future Is Faster Than You Think: How Converging Technologies Are Transforming Business, Industries, and Our Lives by Peter H. Diamandis, Steven Kotler ‘The Future is Faster than You think’ investigates the impact of rapid technology acceleration on both our society and daily life. The book offers a prescient look at our impending future. Pick this book for: The book explores the convergence of digital technologies and their revolutionizing impact on today's legacy industries and their impact on our daily activities such as governing our nation, raising kids, or caring for our planet. Goodreads Rating: 4.33/5 (6 ratings) 20. The Industries of the Future by Alec J. Ross In the book, Ross distills his observations on the forces that are changing the world. Backed by nearly a million miles of travel to forty-one countries as Hillary Clinton's Senior Advisor for Innovation, Ross emphasizes the best opportunities for progress and discusses how countries thrive or sputter. Pick this book for: The book explains the ways we will need to adapt. Ross offers a vivid and informed perspective on how sweeping global trends affect how we live in today and the future. Ross examines the particular fields that will form our economic future over the next decade, including the impact of digital technology, robotics, the commercialization of genomics, artificial intelligence, and cybercrime. Goodreads Rating: 4.04/5 (6,868 ratings) Conclusion The above books discuss how digital transformation has affected practically every industry and every aspect of a business. They provide multifaceted solutions that offer insights on innovation and agility, helping companies achieve increased revenue and much-needed sustainability in today’s competitive marketplace. Do you have more book recommendations to add? Feel free to drop in a message and we will review it.