What is an IT asset

IT asset management plays a major role in the success of a company. Knowing what assets you have, where they are, and the process for recovering those assets is vital to ensure your employees have what they need to be successful. That starts with knowing what all is considered an IT asset.

In the world of information technology, an IT asset is the basis of all an organization’s functionality. IT assets encompass resources that facilitate the operation of digital systems within a business. These assets include any components such as laptops, desktops, servers, and other networking equipment that fall into the hardware category, as well as intangible assets such as software used for data management and operations and other cloud services.

What are considered IT assets

Any tools or licenses used to support a company’s access to information is considered an IT asset. This includes tangible items such as servers, computers, and networking devices, software applications and licenses, network infrastructure such as routers and switches, and data stored in company databases. Outside of these typical assets, an IT team can also manage intellectual property, patents, copyrights, and trademarks that are essential to a company’s function. Additionally, essential IT services like help desk support and consulting provided by the IT department play a significant role in the organization’s overall IT assets. Effective management of this diverse array of IT assets is essential for ensuring seamless business operations and strategically leveraging technology for organizational growth and success.

What are examples of IT assets

There are many examples of IT assets that are crucial to business operations. They can be divided into various categories, mainly hardware, software, and data management. 

Employee computers: Desktops and personal computers, like laptops or tablets, are likely a company’s largest investment in IT assets. They are the first asset an employee will come in contact with, and therefore should be provisioned and managed appropriately before used to set a great first impression. 

Hard drives: These can be a part of a company issued computer, or an external storage device. They likely store critical and confidential information, making them essential to manage appropriately. 

Peripheral devices: Peripheral devices include but are not limited to monitors, keyboards, mice, projectors, printers, fax machines, and others. These items improve an employee’s efficiency and experience in working with technology. They are replaced and repaired on a regular basis to ensure performance. 

Network equipment: This may include routers, switches, and modems that connect your employees to the internet and/or an internal network. Maintaining these items can help avoid outages and loss of work for employees.

Servers and backup systems: Most companies have servers to manage aspects like their website and key company data that is stored regularly. In addition, backup systems are implemented to prevent the loss of any key information. All these systems are crucial to track and manage. 

Software licenses: Any downloadable or cloud-based software you use should be managed and updated regularly. These can be programs used for processes like marketing, accounting, or storage of information.

What are the 4 types of computer assets

IT asset management professionals, such as Multiply Technology, routinely engage with four distinct categories of computer assets when working with clients to manage their IT assets. These assets play a critical role in a business’s daily operations and should be monitored and maintained by either an asset management partner or an internal IT team on a regular basis.  

Hardware assets

Hardware assets are considered to be any tangible or physical computer technology asset that a company owns. This includes computers that may be supporting other equipment, like servers, or are in storage and not currently in use, like older model computers or equipment that is in need of replacement or repair. Maintaining an effective record of all hardware assets can become time consuming and tedious, but working with an ITAM partner like Multiply could be the solution you need to give your IT team time back in their day. 

Software assets

Software assets owned by a company are just that, software. They are any IT systems that are intangible but provide value to the company, like a customer relationship management software to help sales and marketing teams reach new customers, or a project management tool that allows various teams to collaborate effectively via one system. These assets are typically tied to some kind of licensing agreement or subscription that the company pays to the owner of the software system in order to have access to the technology. 

Peripheral devices

Monitors, keyboards, a mouse, and speakers or headsets are great examples of peripheral computer devices. These are pieces of technology that help your employees interact with their hardware in order to create more efficiency in their day, or provide a more comfortable environment for them to work in. Peripheral devices are easy to forget about when managing your entire IT asset inventory due to their low cost and continuous updating. Working with an ITAM partner can alleviate the pressure of constantly cycling through requests for these items by handling the requests themselves and tracking and recovering those assets for you when you need them. 

Network assets

Network assets are any hardware and software components that support your internet and other systems, such as routers, switches, servers, firewalls, and other softwares depending on your industry and company size. These tools are vital to the success of your business because of the data security and compliance they provide. If you are unsure what network assets you may need to keep your company data safe, an IT asset management provider like Multiply can guide you in the right direction. 

What are the 3 main deliverables of IT asset management

When considering all the various types of IT assets there are, and how important it is to maintain them all, IT asset management becomes a vital part of an organization’s success. ITAM partners such as Multiply focus on three main outcomes: continuous asset inventory updates and auditing, cost effectiveness, and compliance and security management. 

IT asset inventory management 

Taking a full inventory of assets would include all employee computers, peripherals, and any other hardware kept in your offices, as well as the software licensed on those assets. Most IT consultants recommend starting this process with an audit of all assets using an IT asset inventory checklist. Knowing what IT assets your company possesses and the utility of those assets makes it easier for companies to make decisions on what new assets need to be procured, what can be repaired, and what to replace in order to improve employee productivity and avoid losing working hours to asset malfunctions.

Cost Optimization

Having an accurate inventory of IT assets allows companies to make better decisions on future procurement costs and costs associated with repairs and replacements. Knowing what IT assets your company possesses, and the utility left in those assets, makes it easier for companies to make decisions on what needs to be procured, what can be repaired, and what to replace in order to improve employee productivity and avoid losing working hours to asset malfunctions. This in turn also improves costs associated with those assets, and should be weighed in the cost analysis of your IT department. 

Compliance and Security

By having an IT asset management process, it is easily possible to ensure compliance with required security measures or other industry standards. A company who knows where their assets are and what is on them is much more likely to meet compliance requirements than a company with no auditing or inventory system.

How Multiply can help 

Finding a reputable and knowledgeable partner that is familiar with all types of IT assets to help your company enact an IT recovery plan is imperative to your success. Multiply is a team of IT professionals who partners with companies to support their IT asset management processes. If you are looking for an expert in IT assets, as well as how to manage them effectively, we are the team for you! Our goal is to help your team set up inventory management tools and systems that allow for you to make smart business decisions as it relates to your IT assets. 

Contact us today to learn more about how Multiply can make a difference for you!