Hardware Assets Examples

Hardware asset management (HAM) is a critical part of managing your IT system’s structure. Your hardware assets contribute to the functionality of business operations and even the ability to use other types of assets like software programs. 

This article will explain what hardware assets are and give some examples to help identify them in your business. By the end, you’ll have a better idea of how hardware assets are used and the resources needed to manage them effectively. Read on to get all the details.

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What Is the Definition of Hardware?

In the IT world, hardware is defined as any physical computer equipment. Computer hardware consists of personal computers, hard drives, motherboards, and networking switches. Each piece of hardware is tangible and takes up physical space, meaning they must be managed effectively to maximize their use. 

Creating a hardware asset management system will help manage all of your IT hardware. It’ll involve creating an inventory to keep everything organized, tracking the hardware lifecycle, and performing required maintenance. We’ll explain all of that in more detail later in this article. But first, let’s look at some additional examples of hardware assets to get a better idea of what they are.

Examples of Hardware Assets

Examples of hardware assets typically fall under five different categories, which are:

  1. Personal computing devices
  2. Networking assets
  3. Telecom equipment
  4. Data center hardware
  5. Peripherals

The following sections will give a more detailed explanation of each.

What Are Some Examples of Personal Computing Hardware Assets?

Personal computing devices would be any physical computers or mobile devices you use within your business. These include laptops, desktops, tablets, and mobile phones. 

Each piece of personal computer equipment is crucial to a company’s success. For instance, if your laptops and desktops aren’t working effectively, many other business operations will likely come to a halt since those devices are needed to access important software and stored data. 

Managing all computers and other equipment is essential, so having a proper HAM system that takes care of it is necessary. 

If you’re looking for help managing personal computers in your business, Multiply will be a great resource. We’re consultants that partner with companies to help with hardware management. We can help you create more organized systems for success to track and manage the lifecycle of all the computer hardware you use.

What Are Some Examples of Networking Assets?

Another crucial part of your hardware asset system is networking assets. These assets contribute to personal computing equipment since they provide a strong networking system to connect devices and have a solid internet connection. 

Examples of networking assets are hubs, switches, load balancers, routers, and modems. Routers and modems are responsible for running a strong internet connection throughout a company’s operations. Hubs, switches, and load balancers keep everything connected and running smoothly. They all operate together to create a successful system.

What Are Some Examples of Telecom Equipment?

In today’s digital business world, being able to conduct online meetings and have a stable connection throughout is crucial. You want to have everything operating effectively to maintain a professional feel. Your telecom equipment will help with that. 

Examples of telecom equipment are video conferencing equipment and voice-over-internet protocol (VoIP) systems. This equipment plays a big role in making teleconferencing a success. That means they must be managed and set up effectively to prevent any glitches in this process.

What Are Examples of Data Center Hardware?

Data center hardware is especially important in larger businesses that store a lot of information. Managing these pieces of hardware is crucial to prevent any data leaks or losses along the way. 

Examples of data center hardware are servers, storage systems, backup systems, utilities, and security equipment. Managing each of these pieces of hardware requires creating organized server rooms and storage systems within business operations.

What Are Examples of Peripherals?

Peripheral equipment is often interlinked with personal computing hardware. Examples of peripherals are computer monitors, mice and keyboards, projectors, printers, and scanners. 

Managing each of these is important since they contribute to the ability to use other pieces of hardware. For example, your desktop computer won’t be very useful if your monitor isn’t working correctly. A proper hardware asset management system is needed to get the most use out of everything.

What Is Hardware Asset Management?

The ultimate goal of HAM is to get the most value out of every piece of computer hardware your business owns. That means doing things like regular maintenance to extend the life of computer hardware and buying and selling computer hardware for the best possible value. 

IT asset management professionals can help with this by creating a successful process for managing the hardware asset lifecycle from beginning to end. That’s what we aim to do at Multiply when we partner with businesses to help with hardware management.

Hardware Asset Management Lifecycle

Knowing that hardware asset management follows along with the typical lifecycle of computer equipment, you’re probably wondering what that looks like. The typical asset management lifecycle includes the following:

  • Creating and updating a hardware asset inventory: One of the most important steps in this process is creating an effective inventory system. The first step asset management teams take is accounting for all the assets you own. Additionally, you must regularly update the inventory when new assets are purchased, or old assets are disposed of. 
  • Procuring new hardware assets: A process needs to be in place every time new assets are purchased. IT teams need to get approval, a budget, and negotiate with vendors to get new hardware at the most affordable price. Asset lifecycle management helps organize this process and identify the best times to buy new equipment. 
  • Deployment of new hardware assets: Once assets are purchased, the next step in the lifecycle is deploying them into business operations. A lot of planning is needed here to ensure assets are deployed without disrupting business operations and that they are all functioning correctly before being put to use. 
  • Regular maintenance and audits: The middle portion of the lifecycle consists of regularly maintaining and auditing current assets. These daily functions help assets continue operating without issues and extend their lifecycle. Regular audits are also conducted to help predict when old assets will need to be replaced.
  • Hardware asset disposition: Eventually, all hardware assets will wear down. IT teams can identify when this is happening and start the process of replacing them with new equipment. During disposition, IT professionals negotiate with vendors to sell old assets for the best price. If they can’t be sold, they’ll be disposed of using proper regulations.

Knowing that hardware asset management follows along with the typical lifecycle of computer equipment, you’re probably wondering what that looks like. The typical asset management lifecycle includes the following:

Benefits of Hardware Asset Management

There are several benefits to hardware asset management. Some of the main ones are:

  • It eliminates frustration. Nobody likes it when things like computers aren’t working properly. It’s especially difficult if the company’s IT system is clunky and it takes a long time to find a fix. HAM will help create a streamlined system that allows everything to operate smoothly throughout the asset lifecycle. 
  • It saves you money. HAM systems aim to get the most value from assets throughout their lifecycle. Efforts are made to purchase hardware for the best prices, extend its lifecycle as long as possible, and sell old assets to get the most value back. Plus, these processes keep your business operations running smoothly throughout.
  • It creates better communication. Another one of the goals of HAM is to create good communication between team members in a business. Everyone should know their role, who they report to, and the proper procedures in every situation. It allows everyone to be on the same page to find effective solutions.

There are many benefits to having a HAM system in place. The first step to that is following the appropriate process.

What Is the Asset Management Process?

The asset management process typically follows along with the lifecycle of hardware assets. It’ll involve:

  • Accounting for and creating an inventory system of all assets in use within a business. 
  • Identifying the best times to buy new assets and following all proper procedures for asset procurement. 
  • Deploying new equipment and ensuring it is all functioning correctly. 
  • Keeping tabs on current hardware to ensure it is working well. 
  • Replacing, selling, and disposing of old assets as it is deemed necessary. 

On top of this process, different roles must be established to manage these aspects. The various roles and responsibilities make a hardware asset manager an important part of a business. 

What Is a Hardware Asset Management Job?

In general, the responsibilities of someone with a hardware asset management job will involve overseeing and managing all the aspects of a company’s computer hardware. That includes negotiating with vendors, coordinating aspects of lifecycle management, and managing computer hardware inventory. 

Proper certifications and education are required to hold this position and do it effectively.

How to Get an Asset Management Certification

Typically, you can get an asset management certification by taking online courses. You’ll want to ensure the course you choose follows all ITIL asset management best practices. The ITIL creates a framework for following all proper procedures for asset management in business operations, so it’s a notable process to follow that ensures success. 

One of the most notable certifications is AIATAM. They follow all proper ITIL procedures and have different course options depending on what type of asset management you want to do. In addition, hiring professionals or outside teams  who possess degrees or further backgrounds in information technology is a good way to get the best results.

How Multiply Can Help with Hardware Asset Management

If you’re looking for help with hardware asset management, Multiply will be the partner you need.. Multiply is a team of IT consultants and senior service technicians that partner with businesses to help with asset and data management. 

We aim to create streamlined systems that simplify asset management and bridge communications between all team members. With Multiply on your side, you can rest easy that all your asset management needs are covered. 

To learn more about how Multiply can help, contact us today!