ServiceNow Asset Management

The ServiceNow Asset Management application coordinates the physical, mechanical, legally binding, and monetary features of data technology resources. Asset Management and the Configuration Management Database (CMDB) are connected, yet have various objectives. It centers around the monetary process of organization property. Setup management centers around constructing and coordinating components which make an accessible organization of administrations.

Goals of ServiceNow Asset Management

  • Asset management strategic approaches have a typical arrangement of objectives. 
  • Control stock that is bought and utilized. 
  • Lessen the expense of buying and handling resources. 
  • Select the correct apparatuses for overseeing resources. 
  • Deal with the resource life cycle from coordinating to removal. 
  • Accomplish consistency with applicable guidelines and methods. 
  • Improve IT administration to end clients. 
  • Make norms and methods for operating resources. 
  • Best ITAM programs include different individuals and divisions, including IT, money, administrations, and end clients. 

Interested to learn ServiceNow Asset Management Training ? Join IT Canvass' ServiceNow Asset Management Training Program   

Why explicit asset management for IT rather than a large business based asset management?

IT Asset Management (ITAM) surmises checking resource utilization and tally, giving ideal resource upkeep, following the total cost of ownership (TCO), dealing with the resource life cycle, etc. The distinction from large business wide resource management is that the greater part of ITAM techniques reflect center IT points of interest of resource arranging, sending, handling, and backing up. This permits IT offices to operate IT resources on a much further level than big business asset directors does. It prompts reducing IT-related expenses more effectively and gaining monetary visibility into IT activities. 

This is an illustration of how ITAM sets aside/ saves cash. A gigantic coordinations endeavor of 300,000 workers utilizes Salesforce Service Cloud as a client support arrangement. Despite the fact that they pay for Service Cloud client licenses for client care offices over the whole business, 3 of its more modest branches (around 10 client assistance representatives in each) still utilize client care instruments. The organization's venture asset chiefs don't realize that these branches are required to utilize Salesforce. When the organization embraces ITAM, they understand that their client assistance related programming spending should be cut: the old frameworks are to be dropped and their IT uphold plans dropped. You shouldn't fail to remember that this advantage is just on the IT division level. To have a full perspective on asset management in the whole venture, ITAM arrangements should be coordinated with enterprise frameworks for asset management.

Servicenow Software Asset Management Training

  • Master Your Craft
  • Lifetime LMS & Faculty Access
  • 24/7 online expert support
  • Real-world & Project Based Learning

Functions of ServiceNow Asset Management

ServiceNow separates resources into 3 classes: hardware, consumables (normally, minimal expense equipment accessories like PC mouse or consoles) and programming licenses. Based upon their class, records show different arrangements of fields at the same time, they aids IT asset directors to accumulate information on: 

  1. General asset features : Model classification (PC), model (Lenovo Yoga 2 Pro), serial number (e.g., LV487513), asset state and substate (In stock- Available), and so forth. 
  2. Asset area : Organization, address, and department (or stockroom) where the resource is utilized.
  3. Related duties : The individual that asked for the asset or is utilizing it just as representatives answerable for its functioning. 
  4. Monetary information : Asset’s underlying cost, receipt number, merchant, cost focus, general record account, and so forth. 
  5. Deterioration : Devaluation technique, leftover worth, the asset cost toward the finish of its helpful life (rescue esteem), and so on. 
  6. Removal : Retirement date (arranged and real), reason, resale cost, and so forth. 
  7. Legally binding information : The agreement this asset is attached to and the guarantee termination date. 
  8. Related privileges : Asset’s equipment/programming/client qualifications. 
  9. Related exercises : Asset state alterations and remarks added.

join IT Canvass  ServiceNow community to discuss more on every indepth module of Servicenow Asset Management !!

Important Areas of Activities for ServiceNow Asset Management

  • Deal with the asset life cycle : By understanding the statuses of your resources permits you to progress from simply following their count and serial  number to directing them through all their life cycle stages: arranging > obtaining> organization > support > retirement. You cannot guarantee good IT asset perceivability yet in addition give a vastly improved IT administration by forestalling resource breakdowns because of booked upkeep and convenient resource substitution. 
  • Track assets’ worth : ServiceNow Asset Management can compute resource deterioration dependent on various devaluation techniques to disclose to you how much every resource will cost in a couple of years and when it's ideal to resign or exchange them. ServiceNow computes asset residual esteem, that portrays how much the resource costs at present, considering how long it was utilized by your organization. This permits enough assessing your organization’s complete resources. 
  • Proficiently utilize existing asset stock : Concerning programming licenses, you pick up visibility on what programming you have bought, what is being utilized and what's still not being allocated. For instance, a new web content expert demands a CorelDRAW permit, and the solicitation gets endorsed by their supervisor. Before you purchase the license, ServiceNow could evaluate whether you as of now have any. In the event that it seems that you have none, you can check the licenses of comparative applications in removal. This is the way you locate an unused Adobe Illustrator permit. The applications that are approved for utilization for a similar reason as CorelDRAW, as per your organization's arrangement, your representatives should utilize Adobe Illustrator. Along these lines, you provide the extra permit to the client clarifying why they will not get CorelDRAW. For this situation, ServiceNow aids you to guarantee more proficient utilization of your existing resources and cut expenses by maintaining a strategic distance from undesirable buys to guarantee organization strategy consistency.

Subscribe to our youtube channel to get new updates..!

How does Asset Management rely upon other ServiceNow measures?

Configuration Management : Configuration Management operates with the specialized side of Asset Management and fundamentally covers the support phase of the resource life cycle. Thus, you should utilize it for errands identified with asset upkeep, for instance, see occurrences, issues or changes identified with a specific resource). 

Request Management : Request Management is utilized to empower clients to peruse Service Catalog and request new resources or round out handover structures. Further, demands taking care of workflows are attached with ServiceNow Asset Management to handle them appropriately. 

Procurement : When clients demand an asset as of now not in removal, the procurement module proves to be useful to make buy requests and analyse the whole purchase life cycle from commencement to receipt. Subsequently, this module substitutes Asset Management by holding the acquirement phase of the resource life cycle. If necessary, it tends to be coordinated with a venture acquisition framework.

upskill your knowledge on ServiceNow Products through Servicenow Tutorials !!

Disadvantages of ServiceNow Asset Management

1. No barcode identification or RFID tag checking 

ServiceNow Asset Management, an electronic asset vault which is probably going to depend on old information. It would be considerably more helpful on the off chance that it upheld barcode and RFID tag scanning to tell you where your resources are and under what conditions. Utilizing such information, one could follow and oversee resources progressively and form asset area maps directly in ServiceNow. It is feasible with ServiceNow customization, ServiceNow application advancement or instant outsider applications. 

2. No patch and form management

In the event that your organization habitually makes or requests programming patches and new forms of existing  applications, ServiceNow won't let you handle  it as assets. You can follow them utilizing ServiceNow Change and Release Management, however it isn't resource driven. It creates a particular specially crafted asset driven application for patches and programming forms significantly more reliable. 

3. No real field for TCO 

ServiceNow has no real field in resource records to follow the absolute expense of possession. The least complex conceivable TCO formula is TCO = starting asset cost + handling and fix costs - resale cost. You can assemble this data in ServiceNow however to view a resource's TCO, you require to convey figures as a primary concern. To cause ServiceNow to ascertain and screen TCO for you, you require to find the manner in which ServiceNow Asset Management finds expenses and include the formula to the asset records. 

4. Solid reliance on other ServiceNow applications implies higher execution costs 

Asset Management requires other ServiceNow cycles and applications to function appropriately, cover all vital resource life cycle arrangements and carry the most incentive to your association. In this way, other than arranging Asset Management itself, you may need to spend a serious aggregate on building up all the supporting cycles for Asset Management to function for you. This might be viewed as the unwanted consequence of one of ServiceNow's solid sides: being a multilayered arrangement, the associations between its inward cycles are incredibly solid and significant.

Servicenow Software Asset Management Training

Weekday / Weekend Batches


The goals and functions of ServiceNow Asset Management are explained in this article clearly. You can decide whether it's useful or not by analyzing its merits and demerits, its usage and purpose. It intends to accomplish IT cost decrease and IT administration quality improvement and aids it to drive your ITAM development level to proactive, oversaw and even enhanced.