Companies may spend large quantities of their budget in disaster preparedness, redundancy systems and licenses for software. However, failing to have a proper asset management system can lead to many problems. It is not uncommon for companies to be paying for licenses they have not used in years, for services they may not even be using. Auditors find that IT departments that operate without any asset tracking are often causes of unnecessary overhead and expense.
There is an even greater concern when large companies may realize that data storage equipment was decommissioned while filled with sensitive data. Where does the data end up? With proper management, it’s hard to say, and often the answer is simply that no one is sure. With stricter regulations involving data and security, companies cannot afford such mistakes.
There are many possible solutions to such problems. In a small company, perhaps a single spreadsheet can more or less track the assets through their life cycle. But growing companies find that such a manual system usually ends up abandoned for more pressing, urgent IT tasks.
What is IT Asset Management?
IT asset management is an important part of any growing or enterprise-level company’s long-term strategy. Software and hardware are seemingly intangible – or at least unnoticeable – assets that normally have a fixed lifespan and represent a considerable expense for companies. Not knowing where or how these assets are being used or how they are decommissioned can lead to data leaks, budget abuse and general disorganization and confusion.
These systems also help decision makers take a high-level look at the infrastructure and technology state of the company. Having such a system can assist in avoiding unnecessary purchases or allow for the repurposing of equipment that is no longer in use but still viable. It can also make sure the IT portfolio and systems are not based on incomplete or inaccurate information.
How It Works
IT inventory management processes involve every level of the organization. End users may need education on compliance. Budget managers must learn to redeploy when possible based on available technology and service departments must maintain an accurate inventory of purchases and warranties.
Often, many of these processes can be fully automated. Using RFID tags or other identifiers allow asset locations to be tracked without any manual interference. A proper management system like that provided by SysAid IT asset management makes it easy to keep companies up to date and accessible. For management programs of this nature to function properly, multiple types of information are needed throughout the process of purchasing, deployment and supporting of IT assets.
A proper IT management system also helps mitigate risk and increases accountability. Assets can be searched and checked for their current status. Often simple tie-ins can be created to minimize manual labor to keep this system up to date.
Reusing and Removing Assets
Many companies do not give much thought to what happens when IT assets are no longer used. However, failure to track such processes can lead to items going missing or wasting reusable items. There should be a secure chain of tracking information from procurement to retirement of IT assets. Since its possible some hardware could have information of a secure nature on it, destruction of assets must be confirmed and properly handled.
The Importance of IT Asset Management
IT asset management represents the center for accountability for the life-cycle management of information technology assets through companies of any size. While many businesses may have manual tracking systems, proper IT governance and asset management software can help make sure that all departments involved follow the proper procedures.
- Benefits of Asset Management for a Small Business
- Knowledge Management 101
- 8 Lessons in Managing Large Accounts
- The Enthusiastic Employee: 16 Myths on Employee and Performance Management
- Business Systems and Process for Your Home Business