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  • Tips to choose and implement an asset management tool for your business

IT businesses invest in complex infrastructures and inventory that are all interconnected. They face persistent challenges to maximize the lifecycle of these assets and put them into good use. To overcome such challenges, organizations are taking the big leap to integrate technology to implement methods and tools that manage their assets, eliminating cumbersome and unreliable manual processes that were earlier adopted.

Enabling sustained asset performance, streamlining asset auditing and inventory management, improving workflow and quality control are what make an ideal asset management tool. It should enable smarter physical infrastructure.

Here’s some practical tips to help you choose the one that best suits your needs and how to you can implement it in your organization:

Evaluate your company’s requirements

The assets and the needs to manage those assets differ from one company to another. First and foremost, it is essential to define and prioritize your requirements. If you have a choice of different asset management software, evaluate each one to arrive at a decision about which one meets your needs in the best possible way. Make a purchase only after a test drive of the shortlisted software.

Determine if it will help you gain performance visibility

The ultimate aim of an asset management software is to increase efficiency by reducing unwanted time and cost spent on devices. Therefore, it is critical to analyze whether the software is capable of measuring and reporting the performance of your processes.

Visibility is critical for asset acquisition. If you can redeploy an underutilized asset to fulfill a need or assign an underutilized asset from one project to another new project that needs it, you can save the company from extra costs of purchasing new assets.

Integrate asset and service management

Many IT businesses already make use of service management tools that manage and track user-related incidents. Most related software is capable of asset management, whether as an included base feature or an optional module. Before purchasing new software to help with your IT asset management system, always check the capability of your existing tools. This can:

  • Minimize costs
  • Reduce employee training time by using existing tools
  • Help create a universal database for two management systems

If the tools at your disposal lack the desired IT asset management (ITAM) functions, consider choosing a software with a familiar interface to make integration easier.

Roll out asset management in stages

After choosing the appropriate tool for your company, implementation is the next step. Making use of a smart IT asset management system for the first time often takes a long time to integrate into your current system properly. And this time-consuming process is often one of the biggest reasons some businesses still stick to manual asset management.The best IT asset management solutions can be implemented more manageable by rolling them out in stages. Place priority essential resources as well as the level of risk involved for each asset class. For instance, a business experiencing a growing laptop and mobile phone theft issue should consider starting their IT asset management work on those devices.

Track new assets on arrival

The system should be able to track new assets as soon as they arrive at your organization. Assigning a unique asset with a barcode tag eliminates the need for manual data entry, and in the process, enabling accurate and efficient inventory. With an asset tracking solution, every piece of hardware and software is more visible in terms of its functionality and actual location, which allows businesses to:

  • Keep the cost of IT resources manageable
  • Reduce overspending on unused software and devices
  • Discover other potential sources of improperly managed resources

Create a database of your assets.

Creating an asset database is inevitable in asset management. A new asset should be placed in the database as soon as it arrives along with its descriptions so employees can view them. As businesses grow, so does the number of government regulations they need to follow. Having a reliable smart asset management system can help companies:

  • Achieve compliance
  • Spot ghost and zombie assets
  • Reduce auditing time and improve accuracy

Maintenance, repair, and operations

The principal goal of any organization is to manage its facilities most cost-effectively in the least amount of time. To achieve the desired level of efficiency, a storeroom and a dedicated supply chain management to support the maintenance, repairs, and operations are critical. A system that tracks, manages, and controls the inventory from the storeroom to throughout its lifecycle can make your organization go places.

Take the first step towards smart asset and inventory management with Teqtivity, contact us today.