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ITAK Volume 3 Issue 7
Official publication of International Association of IT Asset Managers, Inc.
President's Letter
By: Barbara Rembiesa, President of IAITAM
Financial Management. Everyone is concerned about finances today. From rising gas prices to the mortgage crisis, financial management plays a key role in our everyday lives. Now let’s take a look at financial management and how it affects your role as an Asset Manager. Read More... |
| Cover Story
ITAMs: You Too Need to be Budget Savvy - Financial Management and the IT Asset Manager
By: Dan Ingouf, Content Development Manager for IAITAM
Financial Management has a strong overall control on all daily business functions. Those financial decisions have shaped the business activities that we accept as part of our daily work, yet don’t normally have a profound impact on the physical workload unless you happen to be the one elected to make those financial decisions. Are you the one directing a staff of personnel on the proper nuances of financial basics, principles and priorities? Yes, you very well could be. Through years of diligent labors and noted organizational accomplishments, you now find yourself in charge of the Financial Management for your department. You are now RESPONSIBLE for the Financial Management of your department! The realization can be an exciting and possibly a frightening experience. Read More... |
| Feature Article
Financial Management: The Tie that Binds
By: Jenny Schuchert, VP of Marketing & Corporate Communications for Animus Solutions, Inc.
Business is all about providing something that others are willing to buy at a price they will accept and at which the company can make a profit. At the same time, businesses want to provide customers with an experience with which they are satisfied. In addition, it is axiomatic that the less money spent on running the business, the higher the profit. In all cases, the financial success of the business is paramount, and depends on the other factors and processes. Without financial success the company would not be able to provide products at all, and customer satisfaction would be a mute point. Read More... |
Find the Indirect Costs - Why Equating ITAM Successes to Financial Impact is Vital
By: David Keith, Director of Strategic Development and Government Relations for IAITAM
Over the last two months I have had no fewer than 6 former students call or send me an email saying their organization was going through reorganization and their positions were being eliminated. The reasons most cited were budget cuts and new management that didn't see the value of the program. Either reason leaves me amazed. Read More... |
Are You Covered? Insurance for First-Party IT Risk
By: Paul Paray, Esq., Senior Vice President of Hilb Rogal & Hobbs of New York, LLC
This article provides an overview of how a company can transfer first-party privacy risk.
Almost all companies face various IT systems failures, network security breaches, and privacy incident exposures (collectively “IT and Privacy Risk”) based on their daily business operations. It may surprise even the best managed company, however, just how much first-party IT and Privacy Risk it sometimes retains. For example, although during the course of engaging outside vendors, a company can sometimes offload some privacy risk to their vendors by way of contractual indemnification and insurance requirements. Such safeguards have no impact on risks caused by a company’s own employee negligence or wrongful conduct. And, what if the vendor’s coffers or choice of insurance policy is weak? Or, even going forward with a strong vendor insurance clause that is backed by an equally strong insurance policy, what about first-party loss exposures such as IT systems failure due to human error or reputation injury, internal forensic costs, or the expense of credit monitoring that results from a privacy breach? Read More... |
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ITAM Program Success - Top 10 Tips
By: Lori Sechio, CEO of TekMethods
IT operations are critical to the success of today’s enterprise while IT complexity continues to grow due to compliance requirements and government regulations, in addition to other business challenges associated with inaccurate IT budgeting and poorly monitored software license management. For example, as new software license revenue decreases, software vendor audits are expected to increase. The Business Software Alliance (BSA) estimates that 39 percent of software used worldwide during 2002 was pirated, causing a substantial amount of lost revenue. Read More... |
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Trust, But Verify - How Verification Services Can Put Teeth in Your Technoloy Escrow Agreements
By: John Boruka, Vice President of Intellectual Property Management for Iron Mountain
Forward-thinking technology developers and their customers agree to put source code and other proprietary materials into escrow in order to secure access to mission critical technology if pre-determined events and conditions take place.
For the developer, safeguarding the intellectual property rights to their best selling products are high stakes indeed; for the licensee, continuity of business is not only a matter of survival, but increasingly required by good governance compliance regulations. Read More... | |
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