IT asset management involves managing hardware and software assets used by businesses. Steps include inventory, capital planning, using asset management software, and process review. Software can simplify inventory and tracking, while process review ensures efficiency and resource tracking.
IT asset management is the management of all IT assets for a business or organization. IT assets refer to both hardware equipment and software programs used by organizations to conduct business. These business assets may include computer equipment, mobile equipment, digital equipment, and software applications. Proper accounting of corporate assets is an essential task for businesses and organizations, but asset tracking can be challenging. When developing an IT asset management process, companies should take the following steps: conduct a comprehensive inventory, conduct a capital planning review, use asset management software, and review the IT asset management process itself.
One of the first steps in IT asset management is determining what assets the business or organization has. The best way to complete this step is to conduct a comprehensive inventory of all relevant IT assets. Businesses typically keep track of the following hardware equipment: servers, computers, laptops, monitors, printers, fax machines, and scanners. When it comes to inventory software, companies should record the software applications they own and the number of licenses associated with each program. The easiest way to inventory these items is to assign each asset a number and record where it is.
The main objective of IT asset management is to monitor the IT resources of the organization and ensure that the IT budget of the organization is spent wisely. A good way to achieve this is to conduct a capital planning review. This review helps an organization plan for large equipment purchases to replace existing equipment when it becomes obsolete or broken. This way, organizations can slowly phase in new equipment and spread costs over several years instead of absorbing it all at once.
Conducting inventory and capital planning review can be simplified with wealth management software. Rather than keeping inventory on paper or in a spreadsheet, organizations can enter inventory information into the system. The system can track IT assets from acquisition to disposal, and some systems can be configured to detect new hardware or software added to the network. In addition, the system can detect if your organization is using or overusing its software licenses. Organizations can reduce costs by not purchasing unused licenses and can also avoid penalties resulting from violating license agreements.
After each IT asset management cycle, it can be helpful to review the cycle management process. Organizations can ensure their process is efficient and track necessary business resources. After a few cycles, organizations may notice that they don’t need to keep track of certain assets but need to keep track of others. This review may also find that an organization needs to better educate its employees about equipment management.
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