IT Asset Management in Your Business: 5 Things You Should Know

IT asset management helps business organizations to operate in a way that meets legal, regulatory and contractual requirements as it uses its assets. As a result, the business can enjoy efficiency and increase productivity. TraceTM ITAM tools have been designed to do exactly this. To make the most of these ITAM tools, here are several things you should know regarding IT asset management.

Helps save money

The better a business organization is able to execute, the more probable it is that it will make profits. Using IT asset management gives business leaders visibility into every asset in the company and how the asset contributes to the overall wellbeing of the business.ITAMThis big picture enables these decision makers to stop company resources from being used on assets that contribute little or no value to the business, thereby saving money. 

ITAM will not replace Mobile Device Management (MDM)

Every business today uses tablets, phones and other mobile devices. Some companies fail to invest in mobile device management systems hoping they can replace them with IT asset management tools.

This is not the case. The basic functions of MDM are different from those of ITAM and are therefore not interchangeable. Through ITAM, you gain visibility into every asset that makes up your business internal network. MDM on the other hand helps you to inventory every mobile device in your organization. However, the two remarkably complement each other.

Excel is not good enough

When creating a solution for 50 or less people, Microsoft Excel will serve you perfectly. But the moment you enlarge beyond 50, Excel becomes a problem. Many companies with over 50 people report having issues with Excel sheets.

It is preferable that you choose a solution that can handle rapid growth from the get-go. Remember, the cleaner the data you collect, the better you will be able to analyze and make conclusions that will move your business forward.

ITAM is big on automation

Most tasks within ITAM software are automated. This means you can rest in the knowledge that you will not be required to input the same data over and over again. All the same, there are certain types of data that are best entered manually

Failure to use IT asset management tools will give you false data

Data is useful to the extent of its accuracy. If you have not integrated ITAM tools into your business, the data you have regarding that business is in all likelihood false. When you obtain wrong data, you make the wrong decisions that could even result in the loss of some of your company assets.

An audit of your business assets might reveal that assets you all along thought you have are nowhere to be seen and others you thought you don’t have are sitting idly or are hardly ever used.

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