What Is IT Asset Management in ServiceNow? A Practical Overview
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As organizations juggle remote work, cloud-first strategies, and expanding digital infrastructure, IT Asset Management (ITAM) has evolved from a back-office function into a strategic enabler. Managing assets today means more than tracking inventory. It involves maximizing value, reducing risk, and making smarter decisions across hardware, software, cloud, and enterprise infrastructure.
This article wraps up our “What Is…” series, which explored HRSD, CMDB, and Knowledge Management. Now we turn to the four pillars of modern ITAM: Hardware Asset Management (HAM), Software Asset Management (SAM), Enterprise Asset Management (EAM), and Cloud Cost Management (CCM).
What Is IT Asset Management in ServiceNow?
IT Asset Management (ITAM) in ServiceNow® is the practice of managing the lifecycle of technology assets, from acquisition to retirement. This includes hardware, software, cloud resources, and enterprise infrastructure. ITAM ensures that every asset is accounted for, optimized, and aligned with business goals.
ServiceNow provides a single platform to manage assets across departments and geographies. ITAM centralizes data, automates workflows, and connects asset intelligence to broader business processes.
Hardware Asset Management (HAM)
HAM in ServiceNow streamlines the entire hardware lifecycle. From request and provisioning to monitoring, servicing, and disposal, HAM automates workflows across stockrooms, field services, and support teams.
Key capabilities include:
- Automated provisioning and fulfillment
- Inventory and stockroom management
- End-of-life planning and disposal certification
- Mobile asset audits and barcode tracking
- Support for ESG goals through sustainable IT practices
HAM empowers IT teams to manage physical assets with precision, reduce operational risk, and support scalable, cost-effective service delivery across the enterprise. It also provides finance teams with accurate depreciation data, clearer CapEx vs. OpEx visibility, and tighter control over asset-related spend.
Software Asset Management (SAM)
SAM in ServiceNow helps organizations reclaim unused licenses, avoid audit penalties, and optimize software spend across SaaS and on-prem environments.
Key capabilities include:
- License reconciliation and optimization
- SaaS subscription tracking and visibility
- Compliance reporting and audit readiness
- Integration with ITSM and change management
- Automated workflows for license reclamation
SAM also supports onboarding employees have access to the right tools without overspending. According to industry benchmarks, organizations can reduce software costs by up to 30 percent in the first year of SAM implementation.
Enterprise Asset Management (EAM)
EAM in ServiceNow extends ITAM beyond traditional IT. It covers facilities, HVAC systems, network cabinets, and other physical infrastructure that supports IT services. This is especially valuable for industries with complex operational assets.
Key capabilities include:
- Lifecycle tracking of non-IT assets
- Integration with facilities and operations teams
- Maintenance scheduling and compliance
- Visibility into asset health and usage
EAM bridges the gap between IT and operational technology, enabling holistic asset governance across the enterprise.
Cloud Cost Management (CCM)
CCM in ServiceNow is where ITAM meets FinOps. ServiceNow’s CCM solution provides visibility into SaaS, IaaS, and PaaS spend. It offers actionable recommendations to rightsize resources and enforce budget accountability.
Key capabilities include:
- Cloud spend analytics and forecasting
- Rightsizing recommendations with automated actions
- Showback and chargeback reporting
- Integration with Procurement, Security, and Risk
- Executive dashboards for cloud and asset visibility
CCM helps organizations avoid cloud waste, align costs with business value, and support Cloud Centers of Excellence.
How ITAM Adds Value Across the ServiceNow Ecosystem
ITAM works seamlessly with other ServiceNow applications to support end-to-end workflows:
- CMDB: ITAM links asset records to configuration items, allowing organizations to track both financial and operational aspects of their technology estate. These links are maintained through relationship fields and are especially valuable when correlating incidents, changes, or performance data with asset ownership and lifecycle. For a deeper look at the difference between assets and CIs, see our CMDB article.
- ITSM: ITAM provides critical context by surfacing details like warranty status, asset age, and financial ownership. When a laptop fails, for instance, support teams can quickly determine whether it’s under warranty, nearing end-of-life, or due for replacement. This helps reduce resolution time, avoid unnecessary repairs, and flag potential asset theft or misuse. See our ITSM article for more information about the transformations it enables.
- HRSD: ITAM plays a key role in onboarding and offboarding by ensuring employees receive and return the right hardware and software. When integrated with HR Service Delivery, asset workflows can be triggered automatically based on lifecycle events. For example, the system can provision a laptop for a new hire or reclaim software licenses during offboarding. This reduces manual coordination, improves employee experience, and ensures compliance with internal policies. For more on how HRSD streamlines these processes, see our HRSD article.
- CSM: ITAM enhances Customer Service Management by giving agents visibility into the assets tied to customer accounts or service contracts. Whether resolving a hardware issue or verifying entitlement for a software product, asset data helps agents respond faster and more accurately. This is especially valuable in B2B environments where asset ownership and warranty status directly impact service delivery. For a deeper look at how ServiceNow redefines CRM through CSM and related modules, see Is ServiceNow a CRM?
ITAM Beyond ServiceNow: Integrations That Drive Financial Control
ITAM doesn’t just live inside ServiceNow. It connects with external systems to support financial governance, procurement efficiency, and compliance:
- ERP platforms like Oracle for asset depreciation, cost allocation, and financial reporting
- Procurement systems such as SAP Ariba for automated asset requests, approvals, and sourcing workflows
- Finance tools for budgeting, forecasting, and chargeback
- Security and compliance platforms for audit readiness and risk mitigation
These integrations help organizations align asset decisions with financial strategy, reduce waste, and ensure regulatory compliance across the asset lifecycle.
Strategic Outcomes of Unified ITAM
Organizations that unify IT Asset Management across hardware, software, cloud, and enterprise assets consistently report transformative results. From multimillion-dollar savings to improved compliance, operational agility, and employee experience, the impact is both measurable and strategic:
- Cost savings: Organizations have reported reclaiming up to $30 million in software spend through license optimization and SaaS visibility.
- Risk reduction: One global consulting firm achieved 100 percent on-time retirement of end-of-life assets, reducing security and compliance exposure.
- Operational efficiency: A leading automotive company reduced manual tasks by 50 percent through automated provisioning and asset workflows.
- ESG alignment: Sustainable disposal practices and accurate tracking support environmental goals and regulatory compliance.
- Improved employee experience: Faster onboarding and streamlined access to tools enhance productivity and satisfaction.
- Strategic decision-making: Real-time insights into asset health and cloud spend enable smarter refresh planning and budget forecasting.
Building the Future of Asset Intelligence
Modern ITAM is more than tracking, it’s about transforming. With ServiceNow, organizations gain a single system of action to manage assets across the hybrid enterprise. Whether you're rationalizing legacy software, provisioning laptops for remote teams, or forecasting cloud spend, ITAM is the foundation.
This article closes our “What Is…” series, but the conversation continues. Explore the full set to understand how ServiceNow’s platform connects people, processes, and technology:
And if you’re ready to take your ITAM strategy to the next level, Switch Software is here to help. Contact our Studio today!
ServiceNow, the ServiceNow logo, and Now Platform are trademarks and/or registered trademarks of ServiceNow, Inc. Oracle and SAP Ariba are trademarks and/or registered trademarks of their respective owners. All other company names, product names, and logos referenced in this article are the property of their respective owners. Use of these names is for informational purposes only and does not imply any affiliation, endorsement, or sponsorship.