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IT Asset Management (ITAM)

A fundamental practice in any business. Be it an educational institution, a corporate house, or a construction company, every business deals with IT assets every day. Therefore, managing and maintaining them can be a timely endevour. Now to learn about what IT asset management is, you must understand what IT assets are and how software can make the process stress-free. Dig deep to get a complete guide!

What are IT assets?

IT assets refer to software and hardware devices that employees in an organization use to perform several business activities. These are also known as fixed assets that include desktops, laptops, mobile devices, printers, and various licenses that are issued to users in the domain. Businesses regardless of their sizes and industry types deal with all these assets every day and thus require proper care and optimization.

What is the IT asset management process?

End-to-end tracking and managing all these assets are referred to as an IT asset management process that helps streamline business operations and scale up the growth level. The primary objective of IT asset management is to ensure that all IT assets are used effectively. This is the reason why many modern businesses prefer using fully-featured IT asset management (ITAM) software and the ITAM fundamentals checklist to help meet their desired goal.

Why is IT asset management important in an organization?

According to Gartner, IT asset management maximizes the value of an organization and helps businesses make more strategic decisions. Moreover, studies have proven that businesses that prioritize IT asset management have witnessed a greater ROI with a satisfactory business graph. The following points will bring better limelight into why IT asset management is important.

Keep IT employees on the same page: Proper IT asset management makes IT assets visible to all staff. To ensure that every staff is on the same page, many modern organizations install advanced IT asset management software that comes with a centralized dashboard. The IT team can easily log in to the dashboard and get a complete view of all assets. Unless your team is well aware of your valuable assets, they fail to choose the right IT asset for a successful project development. With IT asset management practice, you can ensure that your IT team has a better insight into these assets.

Improve productivity: IT asset management is very essential if you want to experience higher productivity. Organizations count on different IT assets to speed up their process through automation and ensure accuracy. With proper management and maintenance of IT assets, you can guarantee to improve the efficiency of your staff and bring in better results due to the utilization of high-performing assets. A well-featured ITAM software takes care of asset lifecycle and boosts business productivity eventually. Hence, integration of the ITAM system makes the perfect fit for the concern.

Reduce unnecessary expenses: Often, employees end up sticking with a non-performing IT asset as they remain unaware that they might need a new device. This causes a waste of time and severely impacts productivity when assets are not part of a replacement cycle. They can also have the exact opposite problem if the business is not on top of their assets. This could cause assets to be ordered when they are not needed, IT asset management using an advanced ITAM software can help avoid all these disasters. It helps keep all your assets up to date and keep the staff informed on all the assets that are assigned to employees so that they can limit unnecessary purchases. Indeed, it is the best way to save money.

Why is it good to integrate IT asset management software?

A well-featured IT asset management software can bring in a plethora of benefits for a business. These include –

Reduction in time consumption: Perhaps you have thought about managing and maintaining IT assets using spreadsheets. This is a traditional method that requires enough time and manual effort. Integration of an ITAM system eliminates all paperwork and saves a lot of time and energy. You can simply embrace its features and get control over all your fixed assets without any headaches.

Easy to track assets: Asset tracking was pretty hard in the recent past. But with the integration of this system, you can easily keep an eye on all your assets. From determining the departments and identifying the individuals to whom the assets are assigned, the software eases out the asset-tracking process.

Convenience: IT asset management software is very convenient to use. Users can simply log in to the dashboard and view details of all assets whenever required. They can even edit data and ensure all IT assets are well-maintained and organized.

What are the features of an ideal IT asset management system?

Its designed with multiple features that help organizations manage, track, maintain, upgrade, and dispose of IT assets. These include the some or all of the below points to maximize value.

Centralized dashboard – Allowing users to view all assets on one single platform and edit them whenever required. The details of IT assets include – asset name, model number, warranties, device version, maintenance status update, funding, etc.
Asset tracking – Enables IT asset managers to find check-ins and check-outs of all IT assets and identify the individual to whom the asset is assigned.
Asset lifecycle management – Eases out determining the lifecycle of all assets that involve asset procurement, deployment, maintenance, and disposal.
License management – Manages licenses of all software assets and ensures that every license is up to date.
Custom reports –This feature enables organizations to generate real-time reports and share them with others to ensure that all finances are utilized for the right purpose.
Barcode scanner – Using this scanner, users can fetch asset-related information with ease and identify the department where it is located.
Mobile-friendly – The specialty of this feature is that IT asset managers can easily access the software from any of their mobile devices and manage their IT assets on the go.

Different factors to consider before selecting an IT asset management software:

The IT asset management process turns out to be hassle-free with ITAM software solutions. But for this, you need to learn how to get the right software product that can meet the target. Here are some considerations. Take a look below.

Purpose and objective – Know your motive behind implementing IT asset management software.
Features mentioned above – Check out the features offered by ITAM software.
User-friendly interface – Make sure the ITAM software comes with a smooth interface and can be easy to integrate and easy to deploy.
Customer reviews and ratings – Explore the reviews and ratings shared by customers to learn about their experiences and success stories.
Round-the-clock customer support – Responsive customer support team is a must when you are integrating any ITAM software.
Flexibility – As a business grows, the number of IT assets automatically increases. Hence, the ITAM system should be flexible enough to manage the different volumes of assets.
Affordability – Invest in an ITAM system for which you do not have to break your bank account. Check out its affordability before taking any decision.

Final Thoughts

IT asset management is all about managing the fixed assets of an organization by monitoring their life cycles. Though it can be performed manually, integration of advanced ITAM software turns out to be pure bliss.

Are you excited to introduce a well-featured IT asset management software for your business? Get a free consultation with Admin Remix and make a successful integration.

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