The Benefits Of IT Inventory management

Published on August 5, 2021 • 3 min read

IT inventory management helps you and your colleagues keep an eye on what you own and how it is behaving. With IT inventory management you can save time and money by leveraging asset-critical data, such as who has been using your assets and who is responsible for them.

Overall, IT inventory management gives you more visibility and control over your assets, allowing you to take your assets further. With this additional accountability, you can also make better-informed purchasing decisions as you will have all the data you need to see what you own and what you need.

What Is IT Inventory Management?

IT inventory management is the discipline of logging your IT assets. Your IT assets are all of your assets that have an element of connectivity. Therefore, they can be USB sticks, laptops, desktops and more.

The benefit of having these records is that you can use them to pinpoint asset information. This information can help inform business decisions, such as purchasing, and can help you avoid risks such as duplicate purchases.

You can use IT asset management software to automate how you track and manage your IT assets, too. Another benefit of IT asset management software is that you can use it as fixed asset tracking software simultaneously, ensuring you get the most accurate overview of what your business owns.

Tracking Your IT & Fixed Assets

First of all, you can log your IT assets and fixed assets onto your asset management software and add data to them. So, for the assets that need depreciation information, this will be achievable.

Then, you can start tracking your assets. Any day to day changes or audits can be sped up through the use of asset tags. Asset tags allow you to scan your assets to retrieve, and edit, their data.

Every time you scan an asset's tag, the last seen location also updates. This automates a neat audit trail as if any assets have issues, you can pinpoint who reported the issues and where.

How Does IT Inventory Management Save You Time And Money?

How does this save you time and money? In a number of ways. First of all, having tidy and accurate records of your assets allows you to pinpoint and use critical information in an instant. For example, if you want to know which assets are assigned to a specific colleague, you can do so.

You can tailor the information you add to your assets so that it's helpful to you and your business and customise the way you track your assets. This means that using your software as a check in check out system is possible alongside using it as a depreciation system.

A lot of the data you'll be adding to your assets you'd need to know anyway. This includes location and usage information. Speeding up how this data is collected and managed saves you time and, therefore, gives you more time to fulfil other duties.

Finally, an accurate fixed asset register is essential for tax and insurance purposes. Without an accurate fixed asset register, you may overpay on tax, miss out on tax breaks you're entitled to, or even face fines.

itemit's IT Asset Management Software

itemit's IT asset management software is customisable, shareable, and easy to use. With itemit, you can track your tools and equipment alongside your laptops and phones. 

itemit makes data collection and management easy, with a powerful reporting page where you can filter and export information making your operations a breeze.

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