Neglecting ITAM governance is a growing business risk
ITAM governance is becoming a critical priority and many organisations still lack the policies and visibility to manage it, says Valene Nagiah, head of asset tracking and management at V-Track.
IT asset management (ITAM) governance is emerging as a critical concern for companies of all scales. Done effectively, it helps minimise compliance risks, fortify security measures, and ensure technology assets are handled responsibly throughout their lifecycle. Valene Nagiah, head of V-Track asset tracking and management, notes that ITAM governance is frequently disregarded despite its increased significance.
With expanding IT infrastructures and rising cyber threats, unmanaged or inadequately controlled assets can serve as easy targets for cybercriminals. Simultaneously, emerging regulations and best-practice guidelines compel organisations to showcase responsible, ethical, and compliant use of technology assets and resources. South African legislation and governance guidance, such as POPIA, the Cybercrimes Act, the Companies Act, and King V, underscore the necessity of effective, compliant, and ethical acquisition, development, utilisation, and disposal of technology by organisations.
Nagiah explains that this necessitates appropriate policies, standards, and frameworks for the procurement, management, use, and disposal of IT assets. Established governance frameworks like ITIL and COBIT can also aid organisations in formalising these controls. ITIL offers practical advice for managing IT services and IT assets throughout their lifecycle, aiding organisations in enhancing value, controlling costs, and managing risks associated with IT asset acquisition, use, and disposal.
COBIT, developed by ISACA, presents a broader governance and management framework for enterprise information and technology, assisting organisations in aligning technology governance with stakeholder requirements, risk optimisation, resource management, and performance monitoring. Despite most organisations acknowledging the need for up-to-date ITAM governance frameworks, many still fail to implement them.
According to Flexera's 2026 State of ITAM survey, only 74% of organisations claim to have precise visibility into their on-premises hardware, while 78% report visibility into their on-premises software across increasingly intricate IT landscapes. In South Africa, Nagiah highlights that numerous companies still depend on outdated policies or procedures, rudimentary spreadsheet-based asset registers, or lack formal ITAM governance structures altogether.
In the absence of clear policies and procedures, organisations confront escalating compliance, audit, and security risks. V-Track, the intelligent IT asset tracking solution by InnoVent, facilitates ITAM governance via tailored IT asset policies, risk assessments, and audit preparation services that assist organisations in closing governance gaps.
Nagiah underscores the particular value of this support for small and mid-sized enterprises that may lack the resources to manage ITAM compliance internally. V-Track's ITAM governance advisory service aids organisations in defining and preparing core policies and procedures across key areas, including asset acquisition, management, utilisation, and disposal.
Written by urgent.news from ITWeb's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
