What is IT Asset Management?

Martin Snyder
Jul 8
3 min read

Onboarding should be smooth: You get your laptop, your credentials work, the tools you need are pre-installed—and security is already in place. That seamless experience? It doesn’t happen by accident. Behind it is IT Asset Management (ITAM)—and in the modern cloud-first world, Waldo Security takes ITAM further by giving teams full visibility into SaaS usage, shadow IT risks, and compliance gaps.

With Waldo Security, you can:

Discover and monitor shadow SaaS tools before they become security risks
Automate asset inventory across devices, users, and cloud apps
Map SaaS risk to compliance frameworks like SOC 2, HIPAA, and NIST 800-53
Eliminate unused licenses and reduce overspending

In short: Waldo enables ITAM that’s built for the SaaS age—not the asset spreadsheets of yesterday.

What Is IT Asset Management?

IT Asset Management is the discipline of tracking and managing an organization’s technology—everything from laptops and servers to software, cloud subscriptions, and identity-based access.

At its best, ITAM ensures:

Devices are secured and maintained
Software is licensed and optimized
Access is compliant and monitored

But without modern tools like Waldo’s SaaS visibility platform, legacy ITAM efforts often miss what matters most: the rise of shadow SaaS and unmanaged risk.

Why ITAM (Still) Matters—And What’s Changed

Without proper ITAM, even the basics can spiral:

Former employees still have access to company tools
Departments buy SaaS tools without security’s knowledge
You’re paying for licenses no one uses

Security & Compliance

A stolen laptop, an unpatched tool, or an unknown SaaS app can quickly become a breach. Waldo helps enforce continuous compliance across assets, access, and software.

Cost Optimization

By surfacing unused tools and consolidating redundant platforms, Waldo empowers cost-efficient SaaS governance—a critical GRC objective in today’s landscape.

Productivity & Efficiency

Real-time visibility into assets and applications helps your IT team resolve issues, provision new users, and support hybrid workforces without digging through outdated lists.

Core Components of Modern ITAM

Traditional ITAM was built for endpoints. Modern ITAM must handle digital assets—including cloud applications and OAuth grants. Key components include:

1. Asset Discovery & Inventory

Waldo automatically scans and maps your entire SaaS stack, surfacing both managed and unauthorized shadow IT.

→ Learn more about shadow SaaS detection and how it threatens your compliance posture.

2. Lifecycle & License Management

From provisioning to offboarding, ITAM tools should ensure every asset and subscription is tracked and tied to a responsible owner.

3. Security & Compliance Oversight

Waldo aligns your SaaS usage with SOC 2, NIST 800-53, and HIPAA requirements—supporting automated SaaS compliance in even the most regulated industries.

The SaaS Sprawl Problem

In the world of SaaS, any employee can become a buyer—no procurement request required. That’s how organizations end up with hundreds of tools, many completely unmanaged.

This leads to:

GRC violations
Duplicated spend
Elevated data risk

Waldo combats this with a modern SaaS discovery and governance platform designed to:

Automatically find new apps
Classify tools based on risk and usage
Feed insights into your broader cybersecurity GRC platform

Final Takeaway: ITAM Is Now a SaaS Security Issue

IT Asset Management used to be about hardware. Today, it’s about digital sprawl, shadow IT detection, and compliance automation.

With Waldo Security, you’re not just tracking laptops—you’re governing your entire SaaS ecosystem to reduce risk, save money, and stay compliant.

When ITAM is paired with SaaS security tools for SOC 2 compliance, it transforms from a back-office task to a business enabler.