According to a report by Gartner, it is estimated that 75% of organizations will utilize automated IT Asset Management (ITAM) tools to optimize their IT lifecycle management processes by the end of this year. That’s up 25% from just five years ago! Automating the IT asset lifecycle management process through a dashboard of ITAM tools streamlines and enhances efficiency compared to manual methods like Excel spreadsheets or Word documents. The automated lifecycle approach provides real-time visibility into asset data and improves employee productivity, leading to more effective asset utilization and cost savings throughout the entire lifecycle. There are ultimately six steps throughout the lifecycle of an asset.
6 Steps of the IT Asset Lifecycle Management Journey
The procurement stage focuses on simplifying asset acquisition by streamlining bulk asset uploads and effortless receiving processes. By implementing an automated system, organizations can ensure a smooth experience with minimal interruptions, reducing manual entry errors and optimizing inventory management.
During deployment, the emphasis is on quick and efficient asset allocation. An ITAM platform enables administrators to easily change asset statuses, create or add new assets, and assign assets to users with just a few clicks. With automated ITAM tracking, you can stay informed to ensure the timely deployment of assets.
Effective management of assets is facilitated through an ITAM platform, which centralizes asset information and simplifies tracking. Administrators can monitor asset usage, perform maintenance tasks, and make data-driven decisions to ensure optimal asset utilization and cost-effectiveness.
The maintenance stage of the IT asset lifecycle management process involves keeping assets in peak condition to prolong their lifespan. With Teqtivity’s ITAM tools, organizations can track maintenance activities, receive timely notifications, and avoid costly downtimes due to unexpected asset issues.
The retirement phase deals with the end-of-life process for assets. ITAM tools provide visibility into asset depreciation and usage patterns, allowing organizations to plan and execute retirement and disposal strategies.
The disposal step involves securely and compliantly removing assets from the organization’s inventory. ITAM tools ensure that sensitive data is wiped from devices beforehand, mitigating potential legal and reputational risks.
Benefits of Automating IT Asset Lifecycle Management
Automating your asset lifecycle brings several significant benefits to organizations, with streamlined inventory management, enhanced workflows, and predictive reporting at the forefront.
Streamlined Inventory Management
Organizations can monitor asset location, status, and usage in a single dashboard. Thus eliminating the need for manual record-keeping and minimizing the risk of discrepancies. Real-time visibility enables proactive inventory management of assets. Administrators can also promptly identify problems and schedule maintenance that prevents costly downtime.
Enhanced Processes and Workflows
Automating the IT asset lifecycle management process leads to improved workflows. For example, software deployment and updates become seamless and efficient as automation eliminates manual intervention and ensures timely and standardized network installations.
Analytics and Reporting
By analyzing historical asset data, organizations can identify cost-saving opportunities and optimization potentials, ensuring resource allocation is optimized throughout the asset lifecycle. Easily forecast future asset requirements to plan proactively for upgrades or replacements.
Key Productivity Strategies to Automate Lifecycle Management Tools
All of the features in our ITAM toolbox are designed to keep your organization running efficiently and enhance employee productivity. Here are some key strategies to take advantage of Teqtivity’s automated lifecycle management tools.
Integrate Your Tools!
Our platform integrates with many modern systems to keep you moving without damaging your productivity. We tailor your system to match existing processes and enhance workflows with top-tier customization.
Some of our integrations include:
- Microsoft Intune
- Google Workspace
Focus on Better Organizational Processes
Inventory management, onboarding, and offboarding become more accessible with Teqtivity. Spot IT ticket items quicker with automation, gain better asset visibility, improve the new hire process, and find asset data insights from a centralized location.
Embrace Automation In Your Organization
When organizations integrate automation into their ITAM process, it reduces manual intervention and human error. Adopting a unified approach across an organization aligns ITAM with business goals and strategies for improved productivity.
Ensure Compliance and Security
Effectively track the lifecycle of assets, from procurement to end-of-life, ensuring productivity, policy compliance, and transparent data destruction.
Are you interested in learning more about Teqtivity’? Book a demo!