Ask An Expert – What Is IT Asset Management?

Ask An Expert – What Is IT Asset Management?

Before we even deal with IT asset inventory management we need to look at what IT assets are. It may not be possible to understand asset management without knowing what this type of asset is and how managing it can prove to be beneficial. 

IT assets are made up of both hardware and software assets that any business has. 

Let’s take a look at the different types of IT assets and how your business can manage them.

Hardware Asset Management

When it comes to hardware assets, assets such as these consist of laptops, tablets, desktop computers, phones, scanners, and other similar items. Assets such as these are likely to be used by a lot of people over time. Therefore, using IT asset inventory management software can prove to be very useful. It can help you and your team to have much more control over these assets.

With the use of asset tags, you can track your laptops, etc easily. You can also assign IT assets to specific users and ask the users to check the assets in once they’ve finished using them. In addition to this, it is possible for you to increase security surrounding your assets. You can see where they are at all times and who is currently using them. As a result, hardware assets are less likely to be stolen or go missing.

Business Asset Tracking

Managing Software

Managing software is a little different to managing hardware. However, an IT asset inventory management tool can be useful in a variety of ways. For example, it can help you to see:

  • When the software’s subscription needs to be renewed 
  • When software needs to be tested for viruses and other issues
  • When the warranty and insurance details need renewing

By simply logging into the inventory management software, you can manage your own software relatively easily. This is software that you use in your office, in other offices, or even in factories, workshops, on building sites, in hospitals, schools, and many other locations. 

Did you know that some asset management tools also let you add more information such as contact details, user instructions, and more? The more information you can add, the more convenient the asset management tool could be.

Managing Fixed Assets

If you have a lot of fixed IT assets, chances are that you can benefit from IT asset inventory management. While fixed assets may not need to be location-tracked, they can be tracked in many different ways. For example, you can create and export reports whenever you need to. You can see how often an asset is used and who uses it. In addition to this, you can also see the estimated value of your fixed assets. This can prove to be helpful when you need to determine what your business is worth. 

Another feature is one that relates to the maintenance side of asset management. From time to time, many assets will fail to work. When IT management tools are used, you can receive a reminder whenever an asset needs to undergo scheduled maintenance. Reminders such as these ensure that your assets are more likely to be in good working order at all times. This can help with productivity and be very beneficial to your business.

Tracking IT Assets

One of the main benefits associated with IT asset inventory management is that you could track your asset’s location. You could see exactly where your assets are at any time of the day or night. This can prove helpful if you want to know whether your assets have reached the correct office, for example. It may also be helpful for you to narrow down the location should you need to retrieve an asset. 

Let’s imagine that you have misplaced a tablet. You know you left it in the council offices somewhere but you’re not sure where. As long as affixed an RFID tag or QR code to the tablet it’s possible to track it. This is if you use an asset management tool that allows you to do this. If you have, you can see where you left the tablet, allowing you to retrieve it as soon as you can. 

The ability to track your assets can help to prevent ghost assets from emerging. These are assets that are still accounted for but aren’t in use for the time being. This may be because they have been lost or stolen or they’re awaiting maintenance. Many businesses have ghost assets but they may be unaware that they exist. As a result, IT assets and other assets may not be accounted for and, therefore, cost your business money.

If you would like to speak to someone about IT asset inventory management please reach out to us. We’re a team of experts who can help you. You can contact us now at: or fill in the form below to begin a free trial.

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