How To Manage IT Assets With CloudEagle.ai?

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Do you find it challenging to manage your organization's IT assets like apps, licenses, contracts, and invoices?

With organizations using 400+ SaaS apps on average, tracking IT assets can be challenging. Improper management can lead to overspending and security risks.

However, to make things easier, you can use CloudEagle.ai, a smart SaaS management tool with advanced IT asset management (ITAM) capabilities to keep your IT assets organized.

With its simplified features, you can easily track IT assets, optimize costs, and ensure compliance effortlessly. Let’s see how CloudEagle.ai can help you take control of your IT assets.

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TL;DR

• Managing IT assets like apps, licenses, and contracts can be difficult, especially with many SaaS apps. Without proper management, organizations risk overspending and security issues.
• CloudEagle.ai tracks software usage and provides real-time insights to help optimize costs and spot overspending.
• The platform offers clear visibility into all IT assets, including licenses, contracts, and invoices, so you can track usage and renewals efficiently.
• It automates license tracking and sends reminders for low usage or upcoming renewals, reducing errors and manual work.
• With integrations to over 500 apps, CloudEagle.ai ensures your data stays synced and up-to-date, streamlining IT asset management.

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What is IT asset management (ITAM)?

‍IT Asset Management (ITAM) is the process of tracking and managing your organization’s assets, such as software licenses, apps, contracts, and invoices. It involves monitoring software purchases, usage, and renewals to ensure compliance with licensing agreements.

The goal of ITAM is to ensure that each software license is fully utilized, avoiding unused licenses, preventing overbuying or under-licensing, and staying compliant with contracts. It also helps manage software updates, renewals, and audits, saving money and boosting efficiency.

‍Why do you need to manage your organization's IT assets?You must prioritize managing your organization's IT assets to ensure operational efficiency, reduce costs, and stay compliant with industry regulations. Here’s why it’s so important:

‍1. Control costs and optimize usage: If you buy a lot of licenses in bulk, but most go unused, it’s a waste of resources. However, by tracking software usage, you can avoid overspending and pay only for what you need, ensuring that every asset serves you well.Learn about the inspiring customer success story of how RingCentral harvested unused licenses and saved $1.2 million with CloudEagle.ai.

‍2. Boost efficiency and productivity: When employees have the right apps, they work more efficiently. IT asset management ensures that software and applications are available when needed, leading to smoother workflows and higher productivity.

‍3. Ensure compliance with regulations: Staying on top of software licenses and contracts is crucial to avoiding legal issues, which can lead to hefty penalties and reputational damage. ITAM helps keep everything up-to-date and compliant, protecting you from potential fines.

‍4. Enable data-driven decisions: Tracking asset usage provides insights into what’s working and what’s not. By analyzing this data, you can upgrade or downgrade your licenses to save costs and determine which licenses to keep, delete, or consolidate.

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‍Why you must use CloudEagle.ai for IT asset management?

‍Managing IT assets can be tough with so many licenses and contracts. CloudEagle.ai simplifies the process, helping you control costs, stay compliant, and optimize your assets.Here's why you need it:

‍1. Clear spending overview: With the tool, you can easily see all your IT asset spending in one single dashboard. It shows you exactly where your money is going, helping you spot areas where you’re overspending.

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You gain valuable insights to make smarter decisions, such as downsizing unused or underutilized licenses to optimize your spend. The tool also lets you plan future purchases with budget forecasting, so you don’t waste money on unnecessary tools.

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2. Track shadow IT: You’ll be alerted if employees use unauthorized software, giving you full control over your IT environment. By spotting shadow IT, it helps prevent security risks, stops SaaS sprawl, and keeps you from paying for unapproved tools.

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Tune in to this podcast where Joshua Peskay, 3CPO at RoundTable Technology, discusses the risks of Shadow IT, and the growing use of unsanctioned apps, and provides actionable insights on optimizing your organization's resources.

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‍3. License harvesting: CloudEagle.ai streamlines license harvesting by automatically identifying and reclaiming unused licenses. The tool tracks usage data across 500+ integrations, ensuring you only pay for what’s needed. Its automated workflows allow you to remove, downgrade, or reallocate licenses, optimizing your software investment and reducing unnecessary costs.

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4. Automation capabilities: This tool automatically tracks your software licenses, so you won’t miss any renewals. With CloudEagle.ai, you can keep all your purchases and renewals in one place. It helps you stay on top of what you’ve bought and how it’s being used.

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It sends reminders, saving you time and reducing errors. Plus, it makes asset management easier, so you can focus on important tasks while CloudEagle.ai handles the rest.

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5. Seamless integration: The tool connects with over 500 apps you already use, like finance or HR software. This means your IT data syncs automatically, so no manual entry is needed. Everything stays up-to-date, helping you make faster, smarter decisions related to IT asset management, all while saving you time.‍

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Step-by-step guide to managing IT assets with CloudEagle.ai?

‍With CloudEagle.ai, managing your apps, licenses, and contracts becomes effortless. Let’s explore how easily and efficiently you can track and manage these IT assets.

‍Managing your software apps

‍To track and manage your SaaS apps, log in to the CloudEagle.ai platform and navigate to the Applications module. From there, you can explore various tabs to access insights that streamline your SaaS IT asset management process.A dashboard will open, showing key details like application name, vendor, category, status, renewal date, spend history, usage data, user count, licenses, cost sources, admin, business owner, auto-renewal status, uptime, and SOC compliance.

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With this single dashboard, you have all the information you need about your applications in one place, making it easy to track and manage them effectively.When you click on any application, you'll get detailed insights about it. For example, selecting Tableau reveals duplicate apps in the organization via the "Need Action" tab.

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The Usage tab shows key metrics such as total usage percentage, unique logins in the last 30 days, and users who haven’t logged in during that time.

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Managing your licenses

‍In the License Management tab, you'll find license details, including types, provisioned users, utilization rates, total costs per year, discounts, and potential savings—one of the most valuable features.

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On this page, you will also find graphical representations of license usage by departments, which helps in understanding and optimizing allocation across teams.

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Additionally, you will find details of users currently assigned to the licenses, including their name, email, department, job title, provisioning status, provisioning date, license type (e.g., role), and last login date.

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License harvesting

‍CloudEagle.ai makes license harvesting simple by giving you a clear view of how your SaaS licenses are being used. It helps you quickly spot unused or underutilized licenses, so you're not paying for more than you actually need.

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The platform provides license reclamation workflows, allowing you to revoke licenses and harvest them for later use, reassigning them to new employees when needed. It also makes it easy to reassign or remove unnecessary licenses, helping you cut down on costs.

‍Managing your contracts & invoices

‍Similarly, the Spend Details tab provides valuable spending insights. In the Vendor Transactions section, you can find details about vendor payments and invoices, including payment methods, amounts, and the associated departments for each transaction.

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Managing your contracts is just as easy. Navigate to the Contracts section, where you can efficiently manage and track all your contracts.

On the Spend Details page, go to the Contracts tab, where you can add a new contract using the "Add Contract" button.

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Upload your contract file and use AI to auto-populate the fields. Once all fields are completed, simply publish the contract.

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After publishing, all contracts will be listed in the Contract Table, and you can view the key details of the master contract at the top. This includes renewal dates, auto-renewal status, contract period, notice terms, billing frequency, and contract value—giving you all the essential information to optimize your SaaS portfolio.

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Common challenges in IT asset management (ITAM)

‍Here are some of the most frequent challenges you may face while managing IT assets:

‍1. Lack of asset visibility: If you can’t see all your IT assets, it’s difficult to manage them. For example, you might keep paying for unused software or miss opportunities to optimize licenses, leading to overspending or compliance issues.Learn how Rec Room gained complete visibility into the free apps used by its teams in this successful customer story.

‍2. Manual, error-prone processes: If you rely on spreadsheets or paper records to track assets, mistakes are likely. This can delay renewals or audits and increase the risk of non-compliance, wasting both time and resources.

‍3. Shadow IT and unauthorized tools: Employees sometimes use tools that are not approved by IT, creating hidden security risks. For example, an employee may use a personal Dropbox account for work, potentially exposing sensitive data without your knowledge.

‍4. Inefficiencies from overlapping systems: If different departments use separate systems to manage IT assets, it can lead to confusion and data discrepancies. For instance, the HR department might track software licenses in one system, while IT uses another, making collaboration difficult and increasing the risk of errors.Iffi Wallah, Co-founder and CEO of Edge, shares how his company uses CloudEagle.ai to gain enhanced visibility into their software usage and spend in this insightful video.

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‍Conclusion

‍Managing IT assets properly saves costs, boosts organizational security, and ensures compliance. To stay on top of your organization's IT asset management, CloudEagle.ai makes it easy to track and manage all your IT assets in one place.

The tool automates software licensing and usage tracking, keeping your assets optimized. It also provides clear reports for compliance and audit readiness.With CloudEagle.ai, your IT assets stay up to date, eliminating manual work and risks.

The platform helps you stay organized, efficient, and compliant—without the hassle. Are you ready to take control of your IT assets?

Schedule a demo with CloudEagle.ai to see how you can simplify IT asset management.

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