The importance of IT Asset Management

IT asset management is a strategy used by businesses to organize their physical and intangible tech-based components owned to ensure efficient and effective use to ensure maximum returns for the organization. Basically, assets are all elements of software and hardware found within the business/work environment. Managing these ‘assets’ is very important as this gives businesses an overview of their most useful and disposable assets; while also providing a clear picture of their status at any point in time. Asset management is also important because it is beneficial in the following areas:

• The easy tracking of a company’s assets (both hardware and software). This includes any adjustments made to their assets, where all assets are located and how they are being used to ensure returns are at peak as much as possible.
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• If Information is required by a third party (say, for example, insurers or investors) there will be ease of access to certain key information based on its organized format. This is especially useful if the company of focus has assets in several different locations.
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• To ensure safe disposal of assets when no longer useful to the company. Tracking of disposed assets, protecting specific confidential company information from getting into the wrong hands.
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• To ensure accurate representation of the company’s assets on its financial records. Accurate recording of a business’ assets is important to prevent over or under expenditure — therefore representing assets and profits truthfully.
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• For implementing effective risk management of sensitive assets such as licensing, warranties and copyrights. Effective asset management helps to identify possible risks associated with software and hardware, and how these risks can be prevented.
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• Optimization and proper usage of the company’s assets for greater returns as well as their maintenance. Knowing the status of each of a company’s assets and how best they can be utilized is the best strategy for a company when deciding how to perform at its peak.

Do you need asset management support? Well, let us help. Go ahead and schedule a free consultation with our asset management experts.