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IT Asset Management (ITAM) software helps organizations manage the entire lifecycle of their IT assets. The primary function of ITAM software is to create and maintain a comprehensive database of the company’s digital, physical, and virtual assets. This enables IT teams to gain valuable insights into the current state and capacity of the company's infrastructure. IT managers can leverage this data to plan long-term procurement strategies, including the purchase, maintenance, disposal, and replacement of IT assets. In addition to asset tracking, ITAM tools often include features to manage contracts, finances, and risks related to inventory. These platforms can also support tasks such as software patching and policy enforcement. By ensuring that all assets and connections are approved, properly formatted, and up-to-date, ITAM software helps reduce security vulnerabilities. Real-time monitoring capabilities allow ITAM solutions to detect new connections and alert administrators about potentially unauthorized devices. Some ITAM tools also extend their functionality to include Software Asset Management (SAM) features, enabling organizations to manage both hardware and software assets in one integrated solution.