Hardware Asset Management (HAM) is the management of the lifecycle of physical IT assets/components, from the procurement to the retirement stage. Hardware Asset Management also involves managing: warranties, vendor agreements, and software licenses. Hardware Asset Management and Software Asset Management go hand-in-hand; a SAM project will not work as effectively or successfully without having HAM processes in place, or some form of HAM management structure.
Actively and correctly managing hardware assets throughout its lifecycle can lead to a reduction in the amount of money spent on the hardware during its lifecycle at the organization, and to a better budget forecast/planning to support future business initiatives. Furthermore, having a process in place to manage existing assets reduces the time and money spent on identifying the need for new pieces of hardware. Finally, by implementing a successful HAM framework you will quickly see a return on your investment, both financially and from a time perspective.
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