This document outlines best practices for implementing ServiceNow IT Asset Management (ITAM) to optimize the management of IT assets throughout their lifecycle. Key practices include comprehensive asset discovery, centralized repositories, automated lifecycle management, integration with IT service processes, and continual improvement reviews. Following these practices can lead to enhanced efficiency, cost savings, compliance, and service delivery.

1. ServiceNow ITAM Best practices
ServiceNow IT Asset Management (ITAM) involves the effective management of an organization's
IT assets throughout their lifecycle. Implementing best practices ensures optimized asset
utilization, cost-efficiency, compliance, and improved service delivery. Here are some ServiceNow
ITAM best practices:
• Comprehensive Asset Discovery: Use ServiceNow Discovery or other tools to identify and
catalog all IT assets across the network, including hardware, software, virtual assets, and
cloud-based resources.
• Centralized Asset Repository: Maintain a centralized repository or Configuration
Management Database (CMDB) within ServiceNow to store accurate and up-to-date
information about all assets, including configurations, relationships, and dependencies.
• Standardized Naming Conventions and Taxonomies: Implement consistent naming
conventions and categorizations for assets to facilitate easy identification, search, and
reporting.
• Automated Asset Lifecycle Management: Define and implement automated workflows to
manage the complete lifecycle of assets, including procurement, deployment, maintenance,
updates, and retirement/disposal.
• Integration with ITSM Processes: Integrate Servicenow ITAM with other IT Service
Management (ITSM) processes like Incident, Problem, Change, and Request Management to
ensure asset-related data is utilized effectively across the organization.
• Asset Tracking and Monitoring: Use ServiceNow capabilities or integrations with
monitoring tools to track asset status, health, usage, and performance in real-time.
• Regular Audits and Compliance Monitoring: Conduct regular audits to verify asset data
accuracy, ensure compliance with licensing agreements, security policies, and regulatory
requirements.
• Vendor and Contract Management: Maintain a comprehensive record of vendor
contracts, agreements, and license information within ServiceNow to track renewal dates,
terms, and costs.
• User Self-Service and Automation: Enable self-service capabilities for users to request
assets, automate approval processes, and facilitate quicker provisioning while maintaining
proper governance.
• Reporting and Analytics: Utilize ServiceNow reporting tools to generate insightful reports
and analytics on asset utilization, costs, trends, and compliance to support data-driven
decision-making.
• Security and Risk Management: Implement security controls to safeguard sensitive asset
information, manage risks associated with assets, and ensure compliance with security
standards.
• Continual Improvement: Regularly review and refine ITAM processes based on feedback,
industry best practices, and changing business needs to ensure continual improvement.
Conclusion
Servicenow ITAM these best practices can help organizations effectively manage their IT assets
using ServiceNow, resulting in improved operational efficiency, cost savings, compliance adherence,
and enhanced service delivery.