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.

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.

• 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

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.

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.

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.

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.

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.

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.

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 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.

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