ServiceNow Asset Management Process and Features

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ServiceNow Asset Management Process and Features
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What is ServiceNow Asset Management?

• ServiceNow Asset Management helps in tracking the
  contractual, financial, and inventory details of
  devices and hardware including non-IT assets,
  over the course of their lifecycles.
• The workflows are used to obtain approvals,
  provision services, and issue chargebacks. After
  deploying the asset, the asset management tracks
  all maintenance activity and allows IT to perform
  regular assessments until the asset is retired.

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How Does ServiceNow Asset Management Work?

• For maximum flexibility, ServiceNow Asset
  Management includes an ITAM (IT Asset Management)
  data repository for tracking inventory details,
  with data stored separately from the
  configuration management database (CMDB).
• The ITAM repository stores financial data,
  whereas the CMDB keeps track of configuration
  item (CI) details and relationships.

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• The traditional challenges of data integration,
  normalization, and data reconciliation are
  eliminated by having both ServiceNow Asset
  Management and ServiceNow Configuration
  Management on the same platform.
• When new assets are added, the business rule
  engine reacts by creating configuration item (CI)
  records in the CMDB as needed
• ServiceNow Asset Management also collaborates
  with ServiceNows IT Service Management (ITSM)
  applications to provide better inventory control
  and valuable insights that improve service
  quality.

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Benefits of Using ServiceNow Asset Management

• It improves asset visibility by optimizing the IT
  asset lifecycle and delivering better IT
  services.
• It aids in the decision-making process for asset
  utilization and new investments.
• It helps reduce waste by identifying and removing
  underutilized assets.
• Automate asset lifecycle processes to reduce
  labor costs and eliminate repetitive human tasks.
• It ensures the asset policies and regulatory
  requirements are followed in order.
• It enhances the ability to manage change.

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Process and Features of ServiceNow Asset
Management
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• Provisioning of Assets With ServiceNow Asset
  Management, creating a purchase order is as
  simple as clicking a button. Ordered assets are
  tracked and created in the system automatically
  once they arrive.
• As a result, asset records are created with
  complete data about the asset model, user
  request, order, and cost from the start. Assets
  can also be provisioned quickly and efficiently.
• Automated Inventory ManagementServiceNow Asset
  Management enables customers to manage stockroom
  assets such as hardware, consumables, and other
  assets. IT can define a physical and logical
  stockroom hierarchy.
• Furthermore, simple threshold levels can be
  defined for each model of an asset to be kept in
  stock in order to manage inventory and take
  action when levels run low. As a result, the
  organization can quickly provide employees with
  the assets they require to remain productive
  while avoiding overspending on excess inventory.

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• Easy to populate service catalogs Asset managers
  can add asset offerings to the service catalog
  directly and Asset Managers can decide on
  standard offerings and which groups of users are
  authorized to request the asset as Service
  Catalog items are published.
• ServiceNow Asset Management can bring in data
  directly from vendors, eliminating the need to
  build complex web pages or enlist the help of a
  more technical group.
• Capabilities of full contract management
  ServiceNow Asset Management can define any number
  of contract types and create contracts against
  them.
• ServiceNow Asset Management keeps track of key
  contract terms and conditions, makes them
  searchable and includes document management for
  version control and electronic document storage.
• Contracts can be assigned to team members, and
  the ServiceNow workflow engine can be used to
  automate the contract approval and renewal
  process.

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• Track every Cost of Ownership Throughout the
  lifecycle of an asset, ServiceNow Asset
  Management acts as a repository for all costs
  associated with it.
• By capturing all of these costs, asset managers
  can determine the actual lifecycle costs for
  assets, allowing them to identify areas of
  excessive cost and find ways to cut future
  spending.
• Onboarding HR Assets During the HR Onboarding
  Case functionality, it allows you to source,
  configure, and deploy hardware and software,
  including selecting standard items like
  computers, mobile devices, software, monitors,
  and so on, as well as sourcing requested assets
  from stock, purchasing and receiving assets,
  configuring and staging requested assets, and
  deploying requested assets.

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• Lifecycle of ServiceNow Asset Management You
  should be able to more easily prove which assets
  are in each stage of the lifecycle if you use a
  truly innovative hardware asset management
  approach. The following areas benefit greatly
  from automating the end-to-end asset lifecycle.
• Risk avoidance Reduces the likelihood of asset
  loss, security vulnerabilities, and adherence to
  external regulations, environmental concerns, and
  company policies. Furthermore, it reduces the
  risk of critical business systems failing due to
  aging hardware.

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• Financial impact Efficiencies, as well as better
  planning, procurement, and contract negotiations
  reduce costs. Better decisionsReduce manual data
  tasks including normalizing and reconciling data
  which helps in working with cleaner, more
  reliable, and trusted data to gain a more
  complete picture of your assets and make critical
  decisions.
• 360-degree experience It helps to allow hardware
  to be tracked, moved, and refreshed at the fast
  phase of business, resulting in improved employee
  and customer experiences.

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Thank You

• Thanks for reading our PPT. Consult us to know
  more about ServiceNow Asset Management or any
  other ServiceNow Related information.