Why your enterprise needs to invest in an IT asset management system

Large-scale companies with thousands of employees working on numerous projects require hardware, software, and network assets from multiple vendors that ensure seamless communication and efficient operations. IT Asset Management involves the long array of processes that help to organize, manage, and get the most out of these assets. Compliance is critical for any business and no enterprise would take the risk of an expensive audit. A dedicated asset management software ensures that your business meets legal, contractual, and regulatory requirements.

An asset management software could be a sizeable investment for your IT business. Be sure to analyze the pros and cons to save you an incalculable amount of time and money in the long run.

Know Your Assets

Knowing your assets and where they are is the key to elevating your organization to its peak. An updated asset database manages new, used, assigned, installed, lost, and stolen assets. It facilitates the easy tracking of assets from multiple vendors and planning for replacement before assets become obsolete. From an operational perspective, a proper asset management method aids to undertake successful asset audits and gain competitive advantage.

Cut Costs and Build Relationships

An organization must record purchase, depreciation, maintenance, running, and disposal costs of its assets. Asset accounting, even though primarily performed to enable smooth audits and taxation, has an added advantage of strengthening your relationship with your suppliers. A clear and transparent understanding and organizing of the assets is sure to increase your purchasing power in leaps and bounds, thus generating better deals.

Streamlined Maintenance

Every form of hardware and software at your company’s disposal requires regular upkeep and eventual replacements. With an IT asset management system, you can easily keep track iof the lifecycle of every asset and make maintenance much more efficient.

Smart asset management can help your workforce detect potential issues before they arise. This form of preventative maintenance cuts down on losses and improves savings. Most software even has notification features where they send alerts to the right people who can conduct scheduled maintenance.

Ensure Compliance

Corporate compliance covering both internal and external policies and procedures must be ongoing in every business. IT asset management solutions make managers much more efficient at maintaining legal licenses and redeploying unused software licenses. A more streamlined management process also makes it easier to comply with your industry’s regulatory standards.

Easing out the entire list of procedures that involve sharing, tracking, and reporting your assets, and ensuring compliance at all times, a dedicated approach to asset management can bring in greater ROI (Return of Investment).

Knowing exactly what is under-managed, what is utilized well, and what assets can be shifted from one project and be allocated to another can leverage your existing infrastructure straight away.

Tracking and report

Tracking the lifecycle of assets help you to know what assets are in their servicing stage, what are nearing replacement and what are at the disposal stage to calculate the overall performance of assets.

With a functional asset tracking system, it’s easier to assess the location of every resource, who is using what asset, and when said asset becomes useable for other employees. With most businesses gearing more towards a remote workforce, this feature becomes more essential than ever. Even if you have assets spread out across the country, it becomes possible to account for each one using the right software.

What’s more, an IT asset management system capable of generating reports based on asset lifestyle tracking can help you reduce costs and provide a better understanding during future purchases or lease agreements.

Integrate and Manage

In addition to tracking, managing, and maintaining your assets, an asset management system should have seamless integrations with external tools to help create an automated environment that improves workflows and productivity.

Teqtivity is a pragmatic approach to IT asset management, encompassing all the features that an IT enterprise would ever need. Integrations with software platforms such as Jira, Slack, OneLogin, GSuite, and Active Directory to name a few, Teqtivity provides continuous visibility and actionable intelligence.

Entirely customizable to suit your business needs, Teqtivity can help you make the right decisions at the right time. It meets the needs of today and the challenges of tomorrow.