Virima recently unveiled the FastPath Discovery Package (FDP), a suite of IT asset management tools for enterprises combined with consultant services. The solution will allow businesses to maintain accurate, timely inventory of their IT assets in a cloud database.

Atlanta-based Virima Technologies, Inc. develops solutions for data center transformations (DCT) and IT operations management. The company developed EcosystemManager (EM), a cloud solution that performs an asset discovery process in which it not only locates assets but also determines their relationship to other assets, including any dependencies. Infrastructure, operations, users, and service management are other areas EM evaluates.

The FDP is made up of the aforementioned asset discovery mechanisms, access to a configuration management database, reporting tools, assistance from Virima consultants, and the opportunity to take advantage of discounted programs.

Solutions like FDP fall under the heading of what a recent MarketsandMarkets report calls ‘digital asset management’ or DAM. The report states that DAM is at a growing stage where it is expected to grow nearly fourfold from a $1.16 billion market in 2014, to a $4.12 billion market in 2019, a CAGR of 28.7 percent. Regulatory compliance, concerns about data loss, and more demand for digital workflows are the biggest drivers of this market.

In addition to those factors, Virima feels that organizations often struggle to keep up with asset inventory because the IT environment changes rapidly. The ability to take inventory of IT assets quickly becomes critical for infrastructure improvement and data migration projects. Understanding the relationships between assets is equally critical because a given asset can have dependencies. Failing to understand dependencies can prevent systems from functioning after an upgrade or migration.

Perhaps the biggest benefit that a solution like FDP offers is that it centralizes the management of IT or digital assets. In the past, these assets were often silos, where one department would have certain databases and software and another department would also have them, and so on. Operating in isolation like this works only as long as there isn’t a system crash, and IT doesn’t have to be called to clean up the mess.

That won’t cut it anymore. In addition to the issues mentioned earlier, security is another important reason why IT departments need to be able to get inventory of IT assets quickly. It would allow for better vulnerability evaluation and better equip IT to prevent and resolve breaches. Compliance with software licensing is yet another reason. Because of all these benefits, it’s no surprise that the market for IT asset management solutions will increase as rapidly as MarketsandMarkets predicts.