The Covid-19 pandemic has accelerated the evolution of technology-enabled digital enterprise, along with the need for organizations to align their ITAM (IT Asset Management) with better strategic opportunities to maximise IT investment.
Deloitte’s survey looks at the current state of ITAM in organizations and their need to change focus to reflect the changing technology landscape.
Using results from 2,500 individuals in over 18 countries, nearly 1 in 3 respondents were either a member of the Board, C-suite or senior management.
The survey is packed with facts and figures that highlight the issues surrounding ITAM, which could be holding some organizations back from reaching their full potential. It also shines a light on the talent shortage of appropriate staff needed to manage the systems, emphasising the need to improve its infrastructure to attract the right people.
This concern needs to be addressed to improve the technology and enhance other parts of the business, including digital procurement elements.
There is potential to improve ITAM – but how?
ProcureTech highlights the key findings from Deloitte’s survey along with advice on what actions need to be taken.
Current state of ITAM and associated risks
Multiple technologies and processes are becoming outdated and some businesses are falling behind. In particular, ITAM’s maturity journey has failed to keep up with the faster requirements of the recent pandemic. Thus, the pandemic has played a key role in challenging ITAM mechanisms to encourage organizations to invest in worthwhile IT solutions.
- 84% of respondents believe that they lack a truly effective ITAM initiative in their organizations, whilst recognising its increasing complexities and the need to reduce costs.
- 90% of respondents believe that the rapidly changing business, regulatory and technology environment is making it more challenging to enhance ITAM maturity.
Leadership and organization
Like any major company-wide investment, Board support is crucial, as it helps to drive alignment and engagement within organizational departments and across key stakeholders.
45% of respondents believe that IT departments derive the most added value from ITAM and currently, CIOs and CTOs top the scale for driving operational responsibility of ITAM initiatives (figure.1). But future aspirations are for this to become more distributed across more individuals including CPOs, CEOs, Chief Risk Officers etc: eventually, this could see IT departments get a say in the resources they need to get the most value from ITAM, including funding and talented staff.
ITAM processes need significant review and augmentation, often facing governance, technology and talent issues which is where funding and more time allocation could help.
The future of ITAM (organizational positioning, people and technology)
ITAM still has a way to go with 15% of respondents claiming they are yet to elevate the role of ITAM in line with automating procurement and deploying their IT assets.
Nearly 73% of respondents aspire to transform the primary role of ITAM in their organizations to improve decision making, whilst ¾ said they aim to embrace emerging technology solutions to boost ITAM technology capabilities.
There appear to be continuous pain points where organizations lack consistent business processes related to ITAM and talent, with some having to leverage external assistance smartly in order to upgrade staff to decision-making roles in the near future, although this can be an expensive fix in the short term.
Investing in the correct people with appropriate training can prove to be a worthwhile investment as technology continues to accelerate at an increased rate more than ever.
Vendor management and collaboration
It appears ITAM’s vendor management and collaboration is stuck in a chicken-and-egg situation (figure.2): like any working relationship, good collaboration and effective IT programs helps, where one needs to exist first to help the other! It is an emerging area with a keen focus for companies to elevate in order to enhance their profile and business opportunities.
Based on the survey findings, the prime focus lies in enhancing the role of IT Asset Management and finding the right talent. Working on improving such processes will enhance decision making and internal processes for better organizational performance thus aiding procurement automation and IT asset deployment.
Click here to read Deloitte’s ITAM Global Survey 2021.