In a medium or large IT organization, it is important to keep track of assets. Many organizations still use manual asset tracking methods, and data accuracy suffers as a result. Neglecting asset management leads to misplaced assets, which directly affects the bottom line. That is why it is important to use IT asset management software. It gives the business several advantages, cuts unnecessary expenses and plays an important role in business growth.
What Is IT Asset Management?
IT asset management is the practice of keeping IT assets in good shape. Assets are properly tracked, maintained, and sent to different locations as required. IT asset management lets you keep assets up to date and dispose of them when their productive life is over. In simple words, it lets you manage assets through every stage of life: procurement, deployment, maintenance, and disposal. Every IT asset has a limited life, and IT asset management helps you get the most value from each one. Many IT assets look alike, so it is important to identify each one separately, and that is what an asset register is for.
What Is an IT Asset Register?
An IT asset register is a complete list of the IT assets an organization owns. It holds crucial information the organization uses to manage assets better and make informed decisions. An IT asset register helps you monitor and log assets and keeps information current. You can see where each asset is, who is using it, and what its current status is.
An IT asset register contains crucial information such as the asset’s name, category, priority, warranty date, financial information, depreciation, expected life, maintenance dates, and more.
An IT asset register also helps with booking assets in advance. For instance, if an employee wants to use a specific asset, they can reserve it for a specific date and return it when the work is done. This keeps everyone informed and the information centralized.
You can set roles, responsibilities, and permissions for every user, so each person sees only the information they need. For instance, access can be limited by site, so a team at one location sees only the assets at that location, while an administrator can see everything.
The asset register lets you track asset movements, which matters most in large organizations where employees join and leave all the time. Organizations issue assets such as phones, tablets, and laptops to employees when they are hired, and it is important to get those assets back from employees who resign. Because the register records the custodian of every asset, you can see exactly what each leaver holds and make sure it all comes back into stock.
Many organizations overlook the importance of an IT asset register, but as the number of IT assets grows, keeping track of them becomes complex. The chances of theft and misplacement rise. An asset audit in that situation, with asset locations unknown, can be hectic for the organization. With the asset register in IT asset management software, you know each asset’s recorded location. It can play a significant role in maintaining compliance and protecting the organization from penalties.
Why Every IT Team Needs an Asset Register
A business has many valuable IT assets, and asset management software helps keep track of them. It also helps get the best performance from them and keeps maintenance expenses down. The software increases the organization’s productivity and gives complete visibility of assets.
Asset Infinity helps you oversee IT resources quickly and easily. You can log, tag, track, and manage all of your IT resources in one place.
Asset Infinity can also help you keep track of your devices, hardware and stock records, and it lets you design your own asset tags and labels. This adds accuracy and keeps information current. An organization with many IT assets should use asset management software and maintain an IT asset register, so that useful information can be retrieved and asset tracking done efficiently. Investing in asset management software helps an organization save expenses and grow its business.
Frequently Asked Questions (FAQs)
Why must you keep track of IT assets?
Here are a few reasons why it is important to keep track of IT assets:
- To keep track of assets
- To keep assets secure
- To avoid asset theft
- To get better asset performance
- To get more asset information
What are the various types of reports you can get with Asset management software?
Asset management software offers reports such as asset movement reports, asset health reports, asset performance and maintenance reports, inventory reports, asset audit reports, depreciation reports, and reports configured to the organization’s needs.
Which type of asset-tracking technology can be useful for my business?
Several cost-effective technologies are available, such as barcodes, QR (Quick Response) codes, and RFID (Radio Frequency Identification). There are also more advanced asset tracking technologies, such as GPS (Global Positioning System), BLE (Bluetooth Low Energy), IoT (Internet of Things) sensors, and NFC (Near Field Communication). The right choice depends on your organization’s requirements.