What is IT Asset Tracking?

Imagine your entire IT environment right now. Do you know all your IT components? It is impossible to keep all your IT components in your mind. For this reason, businesses need to implement various business processes to monitor, measure, and optimize their IT environments.

What is IT Asset Tracking?

IT Asset Tracking is the business process to keep track of all assets owned by a business. It is the process of tracking and managing IT equipment to ensure that it is used in a cost-effective manner. The processes carried out to track the assets that the IT departments are responsible for in companies are called IT asset tracking.

IT asset tracking is the key component of IT asset management. Typically, IT Asset Tracking involves tracking both physical and virtual IT assets such as computers, smartphones, tablets, servers, laptops and more. It also includes software licenses that are purchased on a subscription basis from vendors such as Microsoft or Adobe. Hardware and software licenses are often referred to as “assets” because they have an assigned value that can be tracked for accounting purposes.

What is IT Asset Management?

ITAM is short for "Information Technology Asset Management". In simple words, IT asset management (ITAM) is the practice of managing information technology hardware and software assets to ensure that they are used efficiently and effectively within an organization's environment. The goal of ITAM is to improve customer satisfaction by providing high-quality service at a reasonable cost.

Businesses create an inventory by listing all their assets in the IT asset tracking process. Afterward, this inventory should be kept up to date. For this reason, this process is not a one-time process. Businesses should keep their asset inventory up-to-date by applying checks periodically.

ITAM is a set of best practices that enables your IT team to manage, control and protect all IT assets across the enterprise. The IT asset management process typically involves collecting a detailed inventory of an organization's hardware, software, and network assets and then using this information in business decisions about IT-related acquisitions and redistribution.

Benefits of IT Asset Tracking

IT asset tracking helps to determine who owns what and how much has been spent on each asset so far. It also allows companies to track the condition of their assets and find out when they need to be replaced. Tracking software can help companies track their hardware inventory, software licenses, mobile devices, and other assets.

The benefits of IT asset tracking are numerous. They include:

• Improved visibility into your technology environment
• Better management of your IT infrastructure
• Reduced costs associated with managing IT assets

IT asset tracking helps reduce operating costs by helping IT departments better manage their budgets and expenditures. For example, if an employee leaves their job they may not return an expensive piece of hardware they were given by your company because they no longer need it. By keeping track of how much money you've spent on each item through IT asset tracking software, you'll know exactly how much should be returned when an employee leaves or if something goes missing from your inventory list altogether."

IT Asset Tracking Methods

Companies that want to implement effective IT inventory management must give great importance to IT asset tracking. Because companies can't get much efficiency from this process if they can't create or keep an inventory of IT assets. IT asset tracking methods may vary depending on the company's IT structure and IT size. But there are two methods most commonly used in the world.

Using Excel for IT Asset Tracking

The oldest of these are spreadsheets, which have now become dysfunctional. In the past, businesses were tracking and managing their assets on spreadsheets. Yes, creating an inventory in spreadsheets is efficient, but keep in mind that spreadsheets are not designed for real-time changes. In addition, spreadsheets bring a lot of manual work. For this reason, IT asset tracking via spreadsheets is inefficient and insecure for companies with medium and large IT sizes.

Using a Software for IT Asset Tracking

Some software has been developed because it is inefficient to perform IT asset management through spreadsheets. This software is called IT asset management software & IT asset tracking software. IT asset management software provides an efficient ITAM process by providing a holistic management platform to ITAM processes (IT asset tracking & IT cost optimization).

Loggle, an IT asset management software, offers a platform that enables businesses to track and manage their applications, hardware, integrations and systems from the purchasing process to the disposal process.

• Application Portfolio Management Software
• Hardware Asset Management Software
• Integration Inventory Management Software
• IT Cost Management Software

IT asset tracking with Loggle is now much easier and more efficient. Now you can contact us and discover our product in detail.