Why IT Asset Management Is Better Than Using Spreadsheets

Why IT Asset Management Is Better Than Using Spreadsheets

Why IT Asset Management Is Better Than Using Spreadsheets

There was once a time when using a spreadsheet could be considered the best way to track your IT assets. This is when spreadsheets used to be one of the most advanced software applications in the world. Of course, that time is long gone. 

As technology develops, businesses are incorporating modern solutions that let them perform their day-to-day tasks better. In that regard, IT asset management software has replaced spreadsheets for asset management. This is simply because asset tracking software is a quicker, easier, more technologically advanced and economical option to track your IT assets. 

Today, spreadsheets are no longer the best method for asset tracking. If you want to keep up with the rest of the business world, you must do what the best-in-the-business do: use IT asset management.

Why IT Asset Management Is Better Than Using Spreadsheets

More About Spreadsheets

Spreadsheets are used by 71% of businesses around the world. That’s a huge percentage, and rightly so because there’s no other tool as useful as the good old spreadsheet. It’s a universal application, used by employees of all levels from the office intern right up to the chief executive of a company. 

Popular spreadsheet apps like Microsoft Excel or Google Sheets are examples of generalist apps that different companies use for a wide range of purposes. They can be used for accounting, project management, attendance, asset management and much more. Doing so, spreadsheets can prove to be pretty useful for small-to-medium-sized businesses which don’t have a lot of specific requirements. 

However, as a business grows and develops complex requirements, spreadsheets cease to be the universal solution for all of its problems. For large scale businesses, spreadsheets may even become a hindrance in the way to sustainable growth. At this point, an enterprise needs to have a more sophisticated and specialised solution so it can carry out its tasks better. 

When it comes to asset management, you can only manage to perform the most basic asset tracking activities with spreadsheets. And that’s if you have no more than a dozen assets. If you’ve got more than that, you’d have really messy sheets that are horrible to work with. 

IT Asset Management Vs. Spreadsheets

This section will talk about five reasons why asset tracking software is better than spreadsheets.

1. Spreadsheets are Prone to Errors

To put it out there, spreadsheets were created to store data. They are not made for asset tracking. Particularly because there’s no space for errors in asset management, but one can make plenty of them using spreadsheets. There’s an error in 90% of all spreadsheets, which is nothing less than a disaster when it comes to asset tracking. 

Spreadsheets are prone to this many errors mainly because an employee updates them according to what they know. Oftentimes, different employees have different information about an asset, and with no space for collaboration, spreadsheets lead to a lot of errors, misunderstandings and confusion.

2. Spreadsheets are Hard to Update

One of the most fundamental requirements for your businesses’ asset tracking to work is for your asset register to be up to date. An outdated asset register is no better than not having one at all. 

As it happens, spreadsheets cannot be updated as efficiently. The monotonous process of finding each cell and re-entering updated data is overwhelming. On the other hand, IT asset management software offers a much better solution to keep your asset register updated at all times.

3. Spreadsheets Don’t Let You Attach Files

When tracking a wide range of assets, you might often need to attach different file types like photos or videos to the asset register. This cannot be done with spreadsheets. 

Important files like asset purchase documents, photos and videos related to maintenance can easily be attached to individual asset profiles with an IT asset management software like itemit.

4. IT Asset Management Software is More Automated

There are various features that make asset tracking much more automated with itemit. Spreadsheets are just plain old sheets that have to be manually edited for each and every update. This can be a lot of work for the one person in charge of asset management. 

With asset tracking software, keeping an up-to-date record of all asset details is much easier. When multiple employees can access and update the asset register, the responsibility gets shared across the team rather than resting on one person’s shoulders. 

There are other ways how itemit automates asset tracking. For instance, each time an asset tag is scanned, the asset location gets automatically updated. In the same vein, when an employee marks an issue with an asset, the manager is automatically notified about the issue by the software.

5. IT Asset Management Software Tracks Assets in Real-time

With spreadsheets, all asset information that you see is from the past. More often than not, not all the information a spreadsheet gives you can be applied to the present because assets are in a constant phase of change. IT asset management software like itemit gives you real-time information about assets so you can be absolutely sure that the data you have is correct. 

Each employee using an asset can keep the asset register updated with the latest changes as soon as they take place. In the same way, the location for each asset is kept updated automatically. The equipment checkout feature lets you see which items are out of the workplace and who has them.

Final Thoughts

In terms of efficiency and functionality, it’s pretty clear why IT asset management software is better than using spreadsheets. But you might still hold that using free spreadsheet software is more economical than investing in asset tracking software. 

You’d be surprised to learn that the amount of time and resources you spend when tracking assets with spreadsheets is much more than the money and time you’d invest in asset tracking software. To learn more about how it saves you time and money, reach out to our team at team@itemit.com.

You can also take itemit on a test drive and use all of its features for yourself by filling in the form below and starting your 14-day free trial.

IT Asset Management

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What Is Software Asset Management?

What Is Software Asset Management?

What Is Software Asset Management?

Software asset management or SAM is a subset of IT asset management or ITAM. IT asset management involves tracking any asset that is linked to IT processes in your organisation. This includes all sorts of hardware and software.

As the name suggests, software asset management includes only the latter. SAM is a business strategy for managing and optimising how your company purchases, deploys, maintains, utilises, and retires software assets. 

Software asset management, in many ways, is different from conventional asset management most of us are used to. This post aims to get you familiar with the idea, understand how SAM works and how to implement it in your business operations.

What Is Software Asset Management?

What are Software Assets?

Before we understand how software asset management works, it’s necessary to get familiar with the definition of software assets. Some of us already know what it is, but some don’t. Let’s make sure everyone is on the same page before moving forward.

A piece of software is a computer program that tells a computer how to work. It can be something as basic as the operating system such as Microsoft Windows or Linux, common apps like MS Office or more complex programs like project management or graphic design software. 

Now, a software program is a business asset if your company has purchased it, owns it and uses it for its operations. Although these are intangible assets that do not hold physical value, they still are an important part of a businesses’ financial structure and define how it goes about its day-to-day work. 

When it comes to using Software as a service, there are different schools of thought as to whether they qualify as an asset or not. It depends on your business. If you’ve not purchased a piece of software fully, but only use it with a weekly, monthly or annual subscription, then you may account for it as an expense rather than an asset. But again it’s up to you and your software asset management goals.

5 Benefits of Software Asset Management

Just like you can make duplicate purchases when buying other business assets, you can buy software licences in excess too. SAM is a smart approach businesses use to balance the software licences they purchase with the number of software licences they bring into use. 

Since these are intangible assets that you cannot see sitting around the office unused, it becomes even easier to purchase licences wastefully. Software asset management helps you make sure you buy only what you need.

Here are a few of the most important benefits of software asset management:

1. Save money

Your organisation can consolidate its software utilisation, have more control over acquisition costs and make well-informed decisions regarding future investments in software with SAM.

2. Better Strategising

One of the most essential functionalities of SAM is to offer you a clear overview of all your IT or software investments so you can utilise all of them towards fulfilling your business goals.

3. Avoid duplicate purchases and repurpose software

If the HR framework of your organisation involves employees moving positions frequently, you might end up buying a lot of software licences wastefully. SAM lets you track all software the company has so that it can be reallocated and repurposed when no longer in use.

4. Faster, cheaper and better management

As compared to conventional methods of tracking software licences that take up much more time, money and have a greater risk of error, using SAM systems offers you a competitive edge. Using a SAM system can cut software management costs and time by half, letting you allocate your resources to other aspects of your business.

5. Stay clear of fines

If you’re not tracking your software assets, you may incur penalties that can cost you a fortune. With SAM, licence deficits can be kept to track and addressed ahead of time.

Apart from software, you can track digital assets like important files, databases, NFTs and crypto-assets. The asset management system enables you to add, edit and keep track of all your digital assets from one streamlined platform.

itemit’s Software Asset Management System

itemit gives you a simple, easy-to-use and highly scalable off-the-shelf solution to track all your business assets including software. Not only that, this SAM solution lets you share asset tracking responsibilities with your teammates. Everyone can download the free itemit app on their smartphone or access the web portal. 

Authorised personnel can view, add and edit software asset details so the software asset register is kept frequently updated. To learn more about how itemit can help you track your software assets, kindly reach out to us at team@itemit.com

If you want to test it out for yourself, fill in the form below to kickstart your very own 14-day free trial!

Software Asset Management

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What Are IT Assets?

What Are IT Assets?

What Are IT Assets?

If you’re in your office, look around yourself and try to identify different assets in the room that can, in any way, be connected to a computer. If you’re not in your office, just try to imagine all the objects that help you conduct digital tasks. 

The list of assets you’re coming up with might seem endless. Let’s see what they are: the computer or laptop itself, desktop screens, keyboards, mice, CPUs, USB sticks, mobile phones, tablets, projectors, scanners, printers, photocopiers, routers and a lot more! How do you possibly group all of these in one category? How do you put a mobile phone in the same box as a projector?

If you wanted to refer to all of these objects in two words or one term, you’d call them ‘IT assets.’ Continue reading to find more about what IT assets are and how an ITAM (IT Asset Management Software) will work for your organisation.

How Does Hardware Asset Management Benefit Your Business

IT Assets – Definition

An asset is something you own that plays a role in helping you conduct your day-to-day business operations. However, the term IT asset narrows down the domain and includes everything you have possession of that helps you conduct computer-based tasks. 

Any piece of hardware, software or digitally-stored information that holds value for your business qualifies as an IT asset. Let’s look at the different types of IT assets to have a better understanding. 

  • Hardware – Any object that has a chip inside of it and helps you conduct digital tasks is IT hardware. For instance, laptops, smartphones, mice, keyboards, printers, Wi-Fi routers, and telephones. Note that hardware is not limited to these objects only.
  • Software – Software that helps you conduct your business operations, such as your invoicing system, are also considered IT assets.

Digital Information – Any information of value stored on a computer or an online database is an IT asset. These could be financial datasheets, licence agreements, and even NFTs or crypto assets.

What is ITAM and Why Do You Need it?

If you’re an IT-intensive company, IT asset management (ITAM) is an absolute necessity for you. It involves keeping a detailed and updated log of all your IT assets so you can optimise your productivity, inventory and business funds allocation. 

In ITAM, you log your IT assets with unique asset profiles and important information about each asset to its profile. For instance, if you bought a new desktop screen, you can create a new asset profile and add important information you might need later such as date of purchase, cost of purchase, and warranty information. 

Not only that, IT asset management involves tracking much more functional data like who the asset is assigned to, where it is and when its last maintenance date was. ITAM makes all such information about your assets available to you so you can use it to make well-informed decisions for your business. 

The process of recording unique information for different assets opens a lot more possibilities to make your business more productive and help it grow. ITAM gives you greater clarity and control over your IT assets, but with the right IT asset management software, all this data is always accessible to you. 

Plus, you can run customisable reports about how your IT assets are being utilised. These insightful reports can prove to be really powerful in turning your business productivity around if used the right way.

What Does IT Asset Management Software Do For You?

itemit’s ITAM software is, by far, one of the most scalable asset tracking solutions you’ll find in the market. But before we get to its scalability and other advanced features, let’s introduce you to the functionalities it offers.

You already know what ITAM is. And itemit’s ITAM software lets you do it effortlessly. itemit is a cloud-based asset management system that lets you create unique asset profiles and add essential details to them in a neat, organised and time-saving manner. 

Using the IT asset tracking software is pretty simple. itemit offers an off-the-shelf solution that can be set up right away, and if used right, you’ll start seeing the results from the very first day.

Benefits of Using itemit ITAM Software

Reduced Losses

IT asset management software gives you a better view of your assets. If all your asset data is properly logged in and kept up-to-date, it becomes a powerful tool to help you make the right decisions.

With the entire database just a few clicks away, you can search for the assets your business owns. You can use asset profiles to locate and retrieve assets and also avoid duplicate purchases.

Greater Accountability

Accountability boosts productivity. IT asset register software and asset tracking, in general, improve your business’ accountability. When each asset is assigned to a particular employee through itemit, the employee feels responsible to utilise the IT asset the right way and keep it safe and well-maintained.

Faster Tracking with Asset Tags

itemit’s IT asset management software comes with a great range of helpful features and functionalities. For instance, you can use asset tags to fast track your asset tracking.

Bottom Line

ITAM software is a critical tool for every IT-intensive organisation to leverage for greater productivity and profits. And for that purpose, you’ll find no better option than itemit’s IT asset management software. Because it’s highly scalable and versatile, it’s a one-size-fits-all solution for all business sizes and asset tracking purposes.

To find out more about how the itemit’s ITAM software can help your business save time and money, you can contact the team at team@itemit.com. You can also fill in the form below to start your 14-day free trial.

IT Assets

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How Does Hardware Asset Management Benefit Your Business?

How Does Hardware Asset Management Benefit Your Business?

How Does Hardware Asset Management Benefit Your Business?

Hardware Asset Management, also known as HAM, is a core part of the wider IT Asset Management. While IT Asset Management encompasses everything IT from purchased software to Wi-Fi routers, Hardware Asset Management focuses solely on physical items in the vast realm of Information Technology. 

As the name suggests, HAM involves tracking and managing all pieces of hardware ranging from high-end laptops, screens, and servers to keyboards, mice and USB cables. All in all, every item that can be connected to a computer by any means is considered IT hardware.

Hardware Asset Management

Why is Hardware Asset Management Important for Your Business?

Before we come to the wide range of benefits of using Hardware Asset Management, let’s first cover the essentials. 

If your organisation equips its employees with IT assets, and computing is an essential part of your daily work, Hardware Asset Management is crucial to develop transparency and accountability with your IT assets. When each employee is equipped with multiple company-issued hardware assets, HAM is a must-have to keep track of each piece of hardware in a simple, but effective manner. 

Managing your hardware assets gives you access to real-time information on your company’s hardware asset inventory, an overview of each asset’s life cycle, and how it’s being utilised and by whom.

7 Benefits of Using Hardware Asset Management for Businesses

  • Saves You Money
  • Maximises Returns on Investment 
  • Optimises Hardware Utilisation and Procurement 
  • Makes You More Productive
  • Better Asset Security
  • The Advantage of Centralised Information 
  • Helps You be GDPR Compliant

Saves You Money

Apart from hardware procurement, a lot of money is spent on the maintenance of these assets. When done right, you can minimise the expenses your business bears in the shape of hardware asset maintenance. 

Unplanned and delayed maintenance can increase the costs of maintenance unnecessarily. It can even lead to permanent damage to hardware assets, resulting in a bigger financial loss. 

With a Hardware Asset Management software solution, you can track your assets and schedule maintenance ahead of time. HAM also allows you to identify and get rid of end-of-life hardware that does not perform and is only incurring extra maintenance costs.

Maximises Return on Investment

Hardware Asset Management helps you maximise your ROI in two ways. Firstly, it helps you make the most out of every piece of hardware. As mentioned above, you’ll be able to extend hardware life and keep it performing productively through proper asset maintenance. This means every piece of hardware generates more money than what was initially spent on acquiring it. 

Secondly, HAM gives you valuable insight into best-performing, most-used and the most under-utilised assets. This information will help you make better decisions to acquire the most suitable hardware assets for your business in the future.

Optimises Hardware Utilisation and Procurement

By focusing on idle and underused hardware, Hardware Asset Management helps you get the most out of your assets. You can accurately keep track of your hardware inventory and avoid overspending on hardware assets that end up on shelves. 

Having a clear overview of your hardware inventory and knowing what is available will let you avoid purchasing hardware that you already have.

Makes Your Company More Productive

Using manual methods for asset tracking is a burdensome administrative task. You might already be tired of wasting time and energy on simple data entry for asset management. With this software solution, you not only save time yourself but also save your employees’ time. Allowing them to focus on their primary responsibilities better. Moreover, it’s easy to predict and prevent hardware problems with HAM so there are no unexpected delays in work.

Better Asset Security

Hardware asset theft is, unfortunately, not uncommon. Not only is it a huge nuisance, but a bigger challenge is presented in the form of the time and money lost due to unexpected work delays and loss of productivity. However, when you’re tracking your hardware with HAM, tracking and reducing asset theft is very easy.

You have a complete list of all hardware assets and who has them so you can maintain the utmost accountability for any lost or damaged assets. The check-in and checkout software keeps a vigilant eye on all hardware going in and out of the workplace.

The Advantage of Centralised Information

One of the biggest advantages of using Hardware Asset Management software is the availability of crucial information at a centralised, easy-to-use, online database. Having all hardware asset data in one place gives you hands-on control over your assets and helps with accurate audits.

Helps You be GDPR Compliant

EU GDPR compliance requires companies to keep a record of all assets used to collect, store or process personal data. Plus, a record of who uses these assets is also required. Hardware Asset Management makes acquiring GDPR compliance a breeze since you’re already tracking all your hardware assets.

itemit’s Hardware Asset Management Software

itemit has one of the most advanced asset management systems on the market. Apart from the basic Hardware Asset Management functionalities, you can also take advantage of a wide range of tracking technologies like GPS trackers, QR codes, barcodes and RFID tags. With itemit’s asset tags, you can get the utmost level of transparency and accountability for your businesses’ hardware assets.

To find out more benefits itemit has to offer for your business, please reach out to us at team@itemit.com. If you’re all ready to give itemit a go, start your 14-day free trial by filling in the form below.

Hardware Asset Management

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How To Use IT Asset Tracking Software

How To Use IT Asset Tracking Software

How To Use IT Asset Tracking Software

To keep up with rapidly developing market conditions, businesses must adapt to cutting-edge technology to stay on top of the game. However, with the numerous IT assets a company needs for every employee, using IT asset tracking software becomes a necessity for businesses

From laptops to company-issued smartphones, the number of IT assets required by employees can rise exponentially with company size. Despite their common use, IT assets, after all, remain some of the most valuable assets in a company. The heavy price tags associated with each computer, mobile device, or keyboard can result in a gigantic sum when a business evaluates its total investment in IT assets. 

IT asset management software ensures all of the IT assets a company owns are kept track of. This includes recording their status, condition, and possession in real-time. Using IT asset tracking software might sound very technical but it’s really very simple.

Here’s a step-by-step guide on how to use IT asset tracking software. Along the way, you will also learn all you can do with itemit’s software solution and why it’s the most user-friendly option on the market.

What Should You Log On Your Fixed Asset Register?

Using itemit’s IT Asset Tracking Software

1. Tagging and Tracking

After you’ve signed up for itemit’s IT asset management solution, the first step is to tag your IT assets so you can start tracking them. You can either choose small vinyl QR code tags for compact devices or larger metal tags for larger hardware. For more expensive IT software, you can use an RFID tag. Tagging is an optional part of the system but the benefits of tagging your assets are huge.

Once you’ve tagged a device, all you need to do is scan it with the itemit app. This will enable you to allocate a name, location, image, and other details about the IT asset. This short and simple procedure adds the IT asset to a proper asset register.

2. Assign IT Assets to Staff

IT asset tracking software lets you assign each and every device to a user or employee. This makes sure all of the company’s IT assets are being utilised and gives employees a sense of responsibility to keep the IT assets assigned to them well and safe. 

Being able to assign different devices to each employee lets you know immediately about which employee has what. This way you can make sure each employee is properly equipped with the devices they need to perform productively and that they don’t request replacement devices unnecessarily when they have already been issued with that kit

To assign an asset to a user, all you have to do is open the item profile on itemit’s web portal and click on the “Assign to a user” button. Next, you can simply assign the asset to an itemit user or create a new contact if you want to assign it to somebody not already on the system.

3. Tracking Asset Location and Condition

With a versatile IT asset tracking software like itemit, you can easily know where a particular device is according to the location it was last scanned at. All the relevant details such as the device condition, who has it, and maintenance information can be accessed from one place for all your IT assets.

4. Reporting and Managing Hardware Issues

Any issues relating to IT assets can be reported through the itemit app or web portal. To report an issue, go to an asset profile by scanning its tag. On the profile, press the “Raise Issue” button. 

Then you can write a description for the issue, set a priority level and even add images to show what the issue is. Whenever an issue is reported, itemit account administrators are alerted of the issue. Once an issue has been reported, users can view the status of the asset to know whether the issue has been resolved or not.

5. Booking Equipment in Advance

Booking IT assets and taking devices home for temporary use can be a nightmare if there is no sound IT asset management software in place. With itemit, employees can book items in advance so that they can easily use them or take them out of the workplace for the time they’ve booked. This enhances workplace productivity and enables employees to plan ahead if a particular IT asset they need is already booked. 

Not just that, the check-in and check-out feature keeps an accurate record of IT assets going out of the workplace. This reduces the risk of IT asset loss to the bare minimum. To book or check out an asset, all you have to do is open the item profile in the app or web portal and press the respective button.

Why itemit?

Out of all the IT asset tracking software available on the market, itemit is by far the simplest to use with an amazing user-friendly interface. itemit makes asset tracking smooth with its seamless app and web portal integrations with more than 2000 apps

Not only that, there’s a wide range of features you can take advantage of. If you opt for itemit, IT asset tracking is not the only thing you can do. You’re also free to use the software solution for fixed asset management or tools & equipment tracking.

Start your 14-day free trial by filling in the form below to find out more about how itemit helps you track IT assets. If you’ve got any special questions, please feel free to contact us at team@itemit.com.

IT Asset Tracking Software

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What Does IT Asset Management Do For Your Business?

What Does IT Asset Management Do For Your Business?

What Does IT Asset Management Do For Your Business?

IT asset management gives your business significantly more visibility over your IT resources and assets. This means that you can make multiple efficiency and productivity improvements.

Transparency over what assets your business owns, where they are, and who is using them gives you more power over your assets and, therefore, saves you time and money.

equipment asset management software and ITAM

Fewer Lost Assets & Duplicate Purchases

When you use IT asset management operations, you gain a better view of your assets. This means that your decisions are better-informed as you have helpful data in front of you that you can use.

If your IT assets are logged in an IT asset management software, for example, you have access to a readily available and very human-readable IT asset register.

This IT asset register gives you the ability to search for which assets your business already owns. Then, you can pinpoint where these assets are to retrieve them and prevent lost money on duplicate purchases.

More Accountability Over IT Assets

The ability to use IT asset register software and asset tracking principles gives you the ability to improve your business’ accountability when it comes to assets.

Having a clear view of what your assets are and the ability to add data to them separates them from being simple rows and columns on a list. Instead, your asset profiles bring your assets to life, showing your team that each asset is unique and critical to your business.

Then, you can log critical information such as who is responsible for which of your assets. This, in turn, increases asset accountability and gives you a neat and tidy audit trail for whenever you need it.

Using assignee features also means that you can run audits with your colleagues by viewing who has what and manage and export reports with this data. So, for example, if somebody hands in their notice, finding out which assets you need to retrieve is a quick and simple process.

Helpful IT Asset Management Features

IT asset management software comes with a wide range of helpful features and functionality, too. For example, you’ll be able to use asset tags to speed up your auditing and asset tracking operations.

You can link these physical tags, such as QR codes or barcodes to your assets, then use these codes to contribute to your tracking operations. This is as, every time you scan an asset’s tag, a few things happen:

  • The last seen location updates
  • The time of the scan updates
  • The user who scanned the tag is logged
  • The asset’s profile opens, ready for edits

This means that if one of your colleagues needs to report an issue on a laptop, for example, the process is simply: scan and click “report”. Then, your maintenance team gets a transparent view of which asset has an issue, where the asset is, who reported the issue and what the issue is.

Using Your IT Asset Register

Your IT asset register is a critical tool for your business to leverage. This is as your business will likely be run using IT assets, such as laptops, computers and software.

Therefore, owning an IT asset register ultimately gives you visibility over asset costs, status, and usage. This means that you can pinpoint inefficiencies and monitor how well your assets are getting used.

Tracking the assets that help your business is essential as otherwise, you have no visibility over potential performance improvements or risks. This expands further, too.

With itemit, you can expand IT asset management operations into fixed asset management capabilities. As you need to track and manage as many of your business’ assets as possible, the system remains flexible and customisable no matter what you need to track.

To find out more about itemit, you can contact the team at team@itemit.com or fill in the form below to start your very own 14-day free trial.

IT Asset Management

Choose a better way to track your assets

Start your free 14-day trial now

Instant access. No credit card details required.

or, download the itemit app to get started

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