Your organization uses tons of IT assets every single day. The management in charge knows that as our world grows more digital, the opportunities and challenges for tracking these assets expand. In fact, it can become almost impossible to avoid growing pains as our use of business technology increases. However, using the right IT asset tracking system can help you automate the management of your IT assets and allow your business to continue to thrive.
So what does ITAM entail (and what is IT asset management software), anyway? ITAM relates to the procurement, management, maintenance and reporting of IT assets in your organization. This could be anything from network equipment to printers, keyboards, and laptops. Of course, the software your business uses is also an IT asset and needs to be managed in an altogether different way from tangible IT equipment. A software solution would not only help deploy and allocate these assets but also enable businesses to retire and dispose of these items safely.
When it comes to managing IT assets, you’d want to minimize equipment loss and maximize asset efficiency. This could include a number of secondary activities, such as keeping track of licenses and warranties, drawing up depreciation reports, and more. By using mobile apps and scanning technology, an IT asset tracking database solution can track your assets in real time, enabling better planning and accuracy of asset data.
How does an IT asset tracking system benefit your business?
The following features help companies define ways how to track IT assets of their business:
1. Automation is the way to go
Keeping track and count of your IT assets manually can be an arduous task no matter what the size of your company. Manual entry will take countless hours of your company’s time and require many employees. In addition to this, manually tracking crucial IT asset data such as warranties or licenses can open you up to a lot of errors. An automated system coupled with scanning technology can save a significant amount of time and increase efficiency. All your employees can simply scan the asset’s RFID tag, Barcode, or QR Code.
The above can be done when you want to assign an asset to someone for greater accountability, for example, or when you’re checking it into maintenance. This is especially important for IT assets, because they outnumber your employees by a whole lot, because of which manual processing just isn’t viable. In short, you can get more done in less time using fewer employees with the help of an IT asset tracking system.
Automating business operations does not only save time but also requires fewer employees
Read more: IT Asset Management Best Practices – It is all about Process
Let’s say you are in search of a projector for your conference room which had been relocated last year. Your memory tells you that it had been moved to a different branch of your office, but you’re unable to find it. Happens all the time! Thinking that it has been retired or lost, you would probably replace it with a new projector. With a cloud-based IT asset tracking system, however, you would have been able to figure out where the item was in real-time instantly. Automating this process, therefore, makes things extremely streamlined.
2. Track the value and depreciation of IT assets
Your assets are going to age with time and will require maintenance and repairs. These services help make sure your valuable assets remain usable to the business and retain value. It is extremely important to keep track of asset value throughout its lifecycle as it has a direct impact on financial statements and taxes. It is no secret that manual tracking of assets is time-intensive and may also require a huge staff which will eventually add to your burden of costs. With a cloud-based software to manage your IT assets, you can see all planned maintenance activities, details of services performed, the rate of utilization, and even its monthly depreciated value.
With a robust solution in place, you can be confident in the information provided to you. This way, you’ll make the best decisions about when to retire assets and when to purchase new ones. In addition to this, many assets have steep upfront costs. An ITAM system can also save you money by stopping your company from making repetitive or unnecessary purchases – great when you’re trying to keep costs down!
3. Accurate data and compelling reports
We all know that bad data in is bad data out. Since this data is used for drafting financial statements and other compelling reports, ensuring that the data going in is accurate is vital. Managing assets by hand can gravely hamper this need. You certainly don’t want a mistakenly-added ‘zero’ on an asset’s acquisition cost! Reports are crucial because they help you make evidence-based decisions that have the power to change the future of your company. For example, why should you keep equipment if it costs you more to maintain than to replace?
Asset tracking solutions help with regular data analysis which in turn lets companies make well-informed decisions
Read more: 4 Common Misconceptions about IT Asset Tracking Software
Automated IT asset tracking helps keep your asset information organized throughout its life cycle, ensuring all the data is up to date and accurate. This means the next time you are viewing the details of your asset records, you can be confident that the information in your database is actually going to enrich your business and help you become more efficient. Moreover, this information is vital for compliance and helps the company pass IT audits painlessly.
EZOfficeInventory – Optimize your IT assets!
With EZOfficeInventory, you can reduce operational glitches and make things easier for your management team. By helping you manage, track and view critical IT assets, we ensure comprehensive management – whether it’s for hardware or software. You can embrace the power of accurate data and extend a big hand of support to your finance team. We also help you add visibility to your assets’ database by telling you exactly when your assets require service or replacement.
The great thing is that you can save your business both money and time using a finely-tuned equipment management platform. Even if a loss occurs, you could instantly look into the relevant history trails and take the necessary steps to prevent it from happening in the future. It also comes in handy in situations where employees tend to misuse your company’s valuable IT assets. We are IT asset tracking specialists at EZOfficeInventory, and we help you configure a solution to your asset management woes regardless of what your line of business is!
Read more: 5 Ways to Increase Asset Visibility using IT Asset Tracking Software
Want to learn more about our IT asset tracking system?
EZOfficeInventory is the leading IT Asset Tracking Software that businesses use all around the world for increased profits and improved workflows. Use our comprehensive solution to allow your management teams to function seamlessly!
For more assistance, drop us an email at support@ezo.io.
