Why ITAM Must Include IoT - Managing the Overlooked IT Assets in Your Business

What if we told you that we’ve been ignoring a whole category of assets that should absolutely be part of ITAM?

In IT Asset Management (ITAM), we’ve spent years refining how we track, manage, and optimize traditional IT assets - laptops, servers, software, and more. But what if we told you that we’ve been ignoring a whole category of assets that should absolutely be part of ITAM?

Think about all the Internet of Things (IoT) devices operating in your organization: smart security cameras, industrial sensors, self-checkout kiosks, even medical devices. These aren’t just random business assets; they’re IT assets. They connect to networks, generate data, and impact costs, security, and compliance - just like any traditional IT device.

So why aren’t they part of ITAM yet?

ITAM already knows how to handle this

The core of ITAM is managing assets throughout their lifecycle - planning, acquisition, tracking, maintenance, and retirement. This process isn’t just for laptops and software. It applies just as well to IoT devices.

Every IoT device:

• Has an acquisition cost
• Requires maintenance and updates
• Needs to be secured against cyber threats
• Eventually reaches end-of-life and must be decommissioned

Sounds familiar? That’s because it’s the same lifecycle ITAM teams have been handling for years. The difference is that IoT devices have historically been ignored, often falling under facilities or operations teams instead of IT. That’s a problem because these devices are network-connected and can introduce real security, cost, and compliance risks when left unmanaged!

Why IoT must be in ITAM

IoT devices are becoming impossible to ignore, and managing them under ITAM brings major benefits:

1. Security risks are real
IoT devices are often a hacker’s easiest entry point. Many have weak default credentials, outdated firmware, or lack basic security controls. Take the Mirai botnet attack in 2016, where hackers took over unsecured IoT devices to launch massive DDoS attacks. Or consider Ring security camera breaches, where attackers exploited weak passwords to spy on people’s homes. Even medical IoT devices, like pacemakers, have been found vulnerable to attacks that could literally endanger lives.

ITAM helps mitigate these risks by ensuring IoT devices are inventoried, patched, and monitored - just like traditional IT assets. If you don’t know what devices exist on your network, you can’t secure them.

2. Cost control matters
IoT devices might seem insignificant individually – an individual device might only cost £30 to purchase. But scale that up across an organization, and suddenly you’re looking at massive, unmanaged costs.

ITAM principles - tracking purchases, managing maintenance costs, and retiring unused assets - help prevent waste. Without ITAM, organizations risk buying unnecessary replacements, paying for unused services, and losing visibility into their actual spending.

AI is only as good as the data it processes. And guess where a lot of that data comes from? IoT devices. If your organization is investing in AI-driven analytics, predictive maintenance, or automation, you need a clear understanding of the IoT infrastructure feeding those systems. ITAM provides that visibility, ensuring devices are properly managed and delivering reliable data.

How to bring IoT into ITAM

Adopting IoT into ITAM doesn’t mean ITAM teams suddenly have to manage every smart device themselves. Instead, it’s about applying ITAM’s structure and processes to these assets in collaboration with the teams that own them. Here’s how to start:

• Map what’s out there - Identify the IoT devices in your organization. What types exist? Who currently manages them? Where are they located?
• Determine what’s in scope - Not every IoT device needs full ITAM oversight. Prioritize based on cost, security risk, and business impact.
• Integrate with existing tools - Many IoT vendors offer management platforms. Instead of reinventing the wheel, connect these tools with your ITAM system.
• Apply ITAM Lifecycle Management - Use the same ITAM best practices you apply to traditional IT assets: tracking, maintenance, compliance, and disposal.
• Collaborate, don’t take over - Work with the teams that currently handle IoT devices. ITAM should support and enhance their management processes, not replace them.

Every IoT asset is an IT asset – so start managing them

Ignoring IoT in ITAM is no longer an option. These devices are network-connected, business-critical, and growing in number every day. Managing them properly isn’t just about asset tracking - it’s about security, cost control, and ensuring businesses get the most value from their technology investments.

So take a fresh look at your ITAM strategy. Chances are, you’ve got a whole world of assets waiting to be managed!