Loggle is an IT Asset Management Tool that allows IT teams to monitor and manage the lifecycle and costs of all software, hardware and integration assets used within an enterprise.Learn More
Hardware assets are difficult to manage manually from the moment they are purchased to the time they are disposed of. Hardware assets can be expensive to provision, configure, maintain, and secure. They also require significant management effort and depreciate rapidly. To create effective and successful IT infrastructure management, an organization needs specialized software that helps streamline the entire process for hardware asset management.
Hardware asset management is the process of protecting assets. It aims to manage assets yields in some way, from the procurement of products to their disposal. With the hardware asset management process, the hardware asset provides real-time details of inventories, a bird's eye view of the asset lifecycle, and an overview of how assets are used in organizations.
Hardware assets in IT service management refer to assets that are tangible in nature that you can touch and feel, such as desktops, laptops, servers. Hardware assets include those in storage as well as those in use.
Hardware asset management is a critical part of IT asset management that must be aligned with the overall scope of the organization and aligned with other ITIL processes.
The core principles of Hardware Asset Management are to control costs, limit over-purchases, have complete insight into IT inventory, and always be audit-ready. This provides many benefits for the organization.
Properly managing hardware assets throughout their lifecycle helps save costs by reducing the chances of failure as the assets are properly serviced and maintained. However, disposing of an asset when it reaches the end of its life cycle helps save on high maintenance costs.
Helps get the most out of the organization's inventory by leveraging underutilized assets with hardware asset management. Gaining full insights into inventory and understanding what's available provides the ability to pull inventory from existing stocks instead of making budget-impacting purchases.
With hardware asset management, you get a comprehensive and precise view of hardware assets that can help you identify assets that need to be maintained or that are nearing retirement, allowing them to be repaired or disposed of before they become a security threat to the organization. Monitoring asset inventory helps detect assets that comply with the organization's policies. This not only quickly isolates security vulnerabilities but also aids in compliance auditing.
Helps better understand hardware assets to provide transparency and better control over IT inventory. It allows to verify hardware inventory information is in the right place using ITAM features such as asset discovery and request validation.
Asset tagging, allocating and withdrawing ownership, location tracking, and routine maintenance are core parts of hardware asset management. Hardware asset management enables you to accurately track and document information such as hardware warranty details, license renewal and compliance, and maintenance status to reduce risks and prevent theft.
With hardware asset management, IT teams can focus on the business that generates more value by automating redundant and inefficient processes. Monitoring hardware inventory helps identify asset issues before they occur and prevents delays and disruptions to operations.
Hardware assets, no matter how big or small, expensive or cheap, have a complex life that goes through 5 main stages.
It involves purchasing the asset to meet both the company's requirements and the budget. This step includes creating the purchase order, starting the predetermined purchase order workflow, associating the budgets with the cost centers, obtaining the approvals for the purchase order, adding the purchased assets to the IT inventory.
The asset is deployed at this stage. Preliminary checks are performed to evaluate physical defects, engineering issues, design issues, and whether the asset has been properly and safely installed. This stage includes activities to deploy assets, change from stock to availability, assign software to hardware asset, pairwise mapping. After these steps, the asset is used to meet the requirements for which it was purchased.
Due to the possibility of wear and tear and also continuous use of an asset, asset protection is an extremely important issue. Maintenance is done to protect the asset. This stage includes scheduling scans, obtaining audit history and full ownership tracking, software compatibility, calculating asset depreciation, and determining the total cost of ownership of the asset.
Maintenance and support help prolong the productive life of an asset despite its increasing age. This phase includes contract maintenance for assets, notifications to technicians about expiration date, dependency mapping in the CMDB to identify impact, software license agreements and management. Changes and updates are made to keep the asset up to date during the support phase, which increases productivity in terms of overall IT efficiency.
Assets should be disposed of at the end of their useful and productive life. Before assets are disposed of, relationships are reviewed and processed in a way that does not affect the organization or environment, and critical information is removed. It is then disassembled piece by piece, and the reusable parts are preserved. If the asset contains any component that may pose an environmental threat, it is classified as dangerous and removed.
The concept of Mobile Asset Management refers to a system aimed at tracking the mobile assets of a business. With a strong mobile asset management strategy, you can analyze your data and daily operations.
Application Lifecycle Management (ALM) is the tracking process that manages software applications from initial purchasing to retirement.
Software as a Service (SaaS) License Management can be complex, and this is more so in large companies.
In order to succeed in business, effectively using the present resources is crucial. To do that, what assets are present and available should be known; so, the assets can be managed properly.
Information Visibility refers to the availability of existing IT information. This information usability focuses on whether people can obtain certain information if they want to
The Chief Information Officer (CIO) is the company executive responsible for the management, implementation and availability of information and computer technologies
License Management Software, in its simplest definition, is a business solution developed to control the licenses of software products owned by an organization from a single platform.
Software Asset Management Software is a business solution that makes software asset management processes more systematic and enables companies to manage them on a single platform.
Integration Architecture is a software architecture developed to facilitate the integration of IT components.
Subscribe to our newsletter for IT Asset Management, APM, SAM and much more!