What is Hardware Asset Management Software?

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. The assets mentioned earlier comprise all the software, hardware, and integration systems components. However, hardware assets, which concern the topic covered in this article, include tangible assets such as computers, scanners, printers, and switchers.

Hardware assets are essential for every type of business. They can bring unexpected threats in case of not tracking appropriately. How can an asset bring damage? As an example, imagine a company that ignores maintenance dates for its devices. Eventually, the devices will lose their productiveness, get slower, and do fewer tasks in more time. Hence, the work will not be done early enough, customers' satisfaction will decrease, and the company will lose its customers. If the company tries to find an escape way to satisfy the customers, it will purchase new devices to avoid being late, which is way more expensive than repairing costs and also is a waste of space.

What is Hardware Asset Management?

As in the example, the harm to an asset arises from the lack of tracking. Hardware Asset Management (HAM) is just the ticket to solve this problem. Hardware Asset Management is the methodology that covers the management of hardware in enterprises throughout their lifecycle. This includes procurement, deployment, maintenance and disposal of the hardware assets. The lifecycle of a hardware system includes four phases:

• Acquisition: The process of identifying, evaluating and selecting new hardware.
• Deployment: The process of installing and configuring new hardware.
• Maintenance: The ongoing process of upgrading, repairing and maintaining existing hardware.
• Disposal: The process of managing the end-of-life cycle of decommissioned hardware so as to ensure it does not become an environmental hazard.

HAM is a part of IT asset management and involves the following aspects:

1. Hardware asset life-cycle management: This includes the acquisition, delivery, installation, maintenance and retirement of hardware assets.
2. Hardware inventory management: This includes tracking the location and status of hardware assets within an organization.
3. Hardware procurement: This includes managing the process of buying hardware assets from vendors or suppliers based on business needs.
4. Hardware costing: This includes calculating costs related to hardware assets such as depreciation and maintenance costs.

Hardware asset management is about ensuring that you have enough devices to meet your needs, whether it be for a single project or for multiple projects across an entire enterprise. The benefits are clear: You can save time, money and resources by ensuring you always have the correct equipment on hand — even if you're working with third-party vendors.

Benefits of Hardware Asset Management

The purpose of HAM is to ensure that hardware resources are utilized effectively, efficiently and cost-effectively.

The main objective of HASM is to ensure that hardware resources are utilized effectively, efficiently and cost-efficiently. This can be achieved through various processes like Procurement, Inventory Management, Asset Management, End Of Life (EOL) Planning, etc.

The following are some of the key benefits of implementing Hardware Asset Management:

• Reduced Cost Of Ownership: By implementing HAM you can save a significant amount of money on your overall IT spend by being able to identify what hardware needs replacing when it comes time for an upgrade or replacement.
• Improved Performance: By knowing exactly what hardware is available for each role/application in your environment you can reallocate resources as needed without impacting performance due to underutilized equipment.
• Increased Reliability And Availability: By ensuring that all equipment is functioning properly you can reduce downtime and improve availability across your entire enterprise which will provide benefits across multiple areas including productivity, responsiveness and customer satisfaction.

What is Hardware Asset Management Software?

There are some ways to track the assets and so run the business better. For instance, the people liable for this task may choose to use an excel sheet, manually record every important date, warranty, and availability of assets, and control them the whole time. However, especially for the bigger companies, it can become a situation that is impossible to overcome. Hardware Asset Management Software is designed precisely because of that. With Hardware Asset Management Software, required dates are reminded on time, and current situations and locations of the assets are accessible for every employee who needs it at that moment. Furthermore, making plans and predicting the future becomes easier due to knowing the lifespans of the past assets, why they are disposed of, and how much they contributed. Therefore, Hardware Asset Management Software helps save time, money, space and increases the company's performance. Why choose the hard way when there is an easy way?

Loggle provides an effective solution that enables Hardware Asset Management processes to be managed from a single center. Get rid of spreadsheet silos and track the lifecycles of your IT assets with Loggle.

The Importance of Hardware Asset Management for Companies

Organizations that successfully implement Hardware Asset Management often experience enterprise-wide improvements in their operations and ultimately their profitability. It is also important that organizations have the right processes and policies to manage their hardware assets. Organizations take control of all hardware processes of existing assets with Hardware Asset Management. Being an important part of IT software, HAM makes business processes efficient by ensuring compatibility with other IT processes.

An organization should manage the hardware process as well as the software processes. Otherwise, compliance cannot be achieved and companies cannot achieve the success they want. Therefore, Hardware Asset Management plays a critical role in the management of assets throughout their entire lifecycle. If the organizations manage their hardware processes well, the problems in the hardware processes are solved and the management of the existing assets becomes easier.