5 Advantages of IT Asset Management

Can you invite your friend over for dinner, trusting with a kitchen you're not sure what's in it? That wouldn't make much sense. Cooking probably won't end happily without knowing what ingredients you have on hand, which are fresh, which are out of date, and which utensils are usable.

Effective asset management does exactly solve that. It creates an infrastructure that allows you to understand which assets are usable and which are useless, and which assets you have to do business with will not make anyone happy and even harm the parties. Therefore, effective asset management will provide the infrastructure that will take your work to a much further point. Thanks to this infrastructure, the number of problems you will encounter in business processes will decrease and your work efficiency will increase uninterruptedly.

In this article, we will first answer the question of what is IT Asset Management. Next, we will focus on the 5 advantages of IT Asset Management.

What is IT Asset Management (ITAM)?

IT Asset Management encompasses the management of all IT assets owned by a business. Renewing, terminating, incorporating new assets, and tracking the performance of IT assets are included in IT asset management.

IT Asset Management is an important business item because when it is done well, it can add value to the institution, while it can cause material and moral damages to the institution when it is poorly managed.

What are the 5 Essential Advantages of IT Asset Management?

1. Know Your Equipment and Improve Efficiency
2. Increase Customer Satisfaction
3. Effective Budget Planning
4. Ensuring Compliance with Regulations
5. Track Your Performance with Reports

Know Your Equipment and Improve Efficiency

If you want to build a successful asset management strategy, you must first determine your area of control and know it well. If you determine which assets, you control and know how these assets work and how much-added value their performance provides to your organization, you can plan accordingly. To maximize your efficiency, you can continue to invest in suitable assets, and you can control the factors that affect your productivity by ending your inefficient and even dysfunctional assets. IT Asset Management thus makes it possible to increase your work efficiency by recognizing your equipment.

Increase Customer Satisfaction

The butterfly effect also appears in business processes. A small problem in your operations, a short interruption in your business processes, will reflect on your customer. This will inevitably affect the satisfaction of a customer who purchases a product or service from you. The most important thing that can be done at this point for ensuring customer satisfaction is to proactively identify your assets that will interrupt your business processes and replace them with assets that work and provide benefits for your organization or make them functional by maintaining them. Effective IT Asset Management prevents the disruption of your business processes and prevents you from receiving negative feedback from your customers.

Effective Budget Planning

What do you do when you have unused items in your home? The logical thing is to put them up for sale and spend the money you earn on other essential needs of your home. When effective IT Asset Management is done, you can end the dysfunctional assets for your organization and invest the budget allocated to that channel in other assets that can increase business efficiency. At this point, IT Asset Management is budget-friendly and helps you take the necessary economic actions for your business.

Ensuring Compliance with Regulations

Regulations change frequently. To ensure that the IT assets you own comply with these regulations, you must constantly check that they are up to date. Maintaining this job manually can be challenging and complex. Relying on IT Asset Management Software is the least annoying and most up-to-date method to keep track of your compliance with regulations.

Track Your Performance with Reports

If you cannot measure the performance of the assets you have, it is not possible to get efficiency from those assets. You can do this in two ways: first, you manually monitor each program and evaluate its performance. For this, you need both time and a very careful eye. However, since the manual calculations you will make are quite prone to human error, they will not lead you to the desired result. On the other hand, institutions that maintain their IT asset management with software can get more regular and grounded reports to measure the performance of their IT assets and can make their determinant planning through these factual reports. Simply, monitoring the performance allows you to increase the efficiency of your work.

What are the Challenges for IT Asset Management?