IT Asset Management program for optimizing asset performance

IT asset management(ITAM) solution is a systemized approach to grouping hardware and software assets for enhanced traceability, remote monitoring, deployment, maintenance, recycling, etc with timely interventions.

Organizations invest heavily in enterprise technology. Gartner forecasts global IT spending to reach $4.4 trillion by the end of 2022. That’s a ginormously high capital exceeding the sum of the GDP of India and Australia. This presents a huge opportunity for savings through the management of software and hardware assets.

Reference: www.gartner.com

Moreover, Statista estimates that the value of the Indian data security market will make a giant leap from over eight billion Indian rupees(in 2019) to 21 billion rupees(by 2025) at a Compound Annual Growth Rate(CAGR) of over 16 percent between 2020 and 2025.

How ITAM software helps business owners?

An ITAM software manages assets digitally by ensuring all the assets are deployed at intended locations, put to use as per the company policies, and are best maintained to ensure maximum uptime. An investment in ITAM software provides you with a quick return on investment. Such software goes a step further in including workflow for a loaner asset which the default asset user uses while his default asset is under maintenance.

ITAM Software outsmarts manual methods

Are you annoyed with manual and traditional methods of managing and tracking work orders? An ITAM software can save you the day with its process and capabilities. Upon using it, you gradually realize that attaining zero work orders is well within reach as no work order falls through the cracks. The work style becomes crystal clear with truly mobile and real-time management from your mobile.

Benefits of IT Asset Management using a Software:

End-to-end Asset lifecycle automation

A good ITAM software should help you optimize the assets right from the stage of procurement to disposal to derive the most of them. Gain visibility into much-needed asset location, default & current asset user, the current productivity level of the asset, maintenance status; Map assets with technicians, spares, locations; Group assets by type, location, department, etc., and establish interdependencies among assets. Assess current asset value digitally by several prevailing depreciation calculation methods to determine the right time for disposing or recycling an asset.

Centralized asset information

A clear idea of interdependency among assets for the desirable functioning is essential to hassle-free asset tracking. For this, you need to establish an asset hierarchy that can be stored safely in a cloud environment in a Configuration Management Database(CMDB) hosted in a cloud server with very high uptime.

ITAM software records details on every transaction in remote cloud servers associated with high degrees of uptime and security. The details are instantly accessible, round the clock, from remote locations via web or mobile. As asset purchase details, manuals, and service history are in a centralized repository, every maintenance stakeholder is on the same page.

Floor plans for triggering work orders

Asset managers can view the 2D interactive asset floor map, understand work order distribution and ensure the count of assets under maintenance does not cause a handicap to the production process. The true beauty is line supervisors can trigger schedules for multiple devices from a single map.

Ensuring Asset Compliance

Regulatory compliances that bind organizations are getting ever stricter. An ITAM solution helps businesses adhere to regulations by uploading policy documents, creating automatic schedules, and multiple and multilevel reminders so that you never face those annoying, unsolicited interruptions to routine work. It saves you from huge penalties too!

Prevention of asset theft

Have a vigil on every movement of your asset to avoid misuse, asset theft, and time wasted on searching an asset. In large-scale and mid-level organizations missing equipment and over-purchase are very common.

Go the extra mile in Asset Tracking with advanced asset tracking capabilities by mounting sensors over assets and identifying their location in real-time precisely using BLE/RFID reader devices. In this technique, Assets can broadcast their status using sensors mounted on them 2x faster than other methods. It is easy to distinguish similar assets in such a wireless and cost-effective setup.

Simplifies asset audit

Assets belong to different types and are scattered. It is tedious to audit them using conventional methods. Digital audits are prefered over manual audits as it is easy to access, gather, and collate asset details and transactions from the comfort of an easy chair. Such audits wrap up the entire process fetching the ins and outs of assets with a high degree of accuracy in no time.

IT Asset Inventory

It is a fact that a well-planned and organized IT Asset inventory can go a long way in saving hardware costs. Generate QR codes and classify stocks using QR code labeling. A mobile scan of the code enables quicker dispatch of spares for quick fixes. Look for an integrated web portal that facilitates fast interaction with the supplier. Have accurate information on the closing stock after each transaction. Achieve the right balance between overstocking and shortage with minimum reorder alerts.

Despite its paramount importance, Data security takes a backseat in many organizations. The recent pandemic remote work model has outlined the importance of stringent IT information security policy.

If ITAM Software powers your organization, you can shed your worries on data security. The power of the cloud provides you with a high degree of multilayered security your business deserves.