How To Track IT Assets?

What Are Examples of IT Assets?

Before getting into IT asset tracking, it’s important to understand what IT assets are in the first place so you can recognize them within your company. Essentially, an IT asset is any piece of technology you invest in (spend money on) that provides value within your operations. 

Some common examples of IT assets are personal computers (laptops and desktops), computer monitors, routers, server units, hubs, and switches. However, that’s only scratching the surface of the number of technological devices you probably have throughout your operations. That’s why you need a streamlined system to keep track of everything. 

How Do You Keep Track of IT Asset Inventory?

There are several layers that go into keeping track of an IT asset inventory. Here’s what the different steps look like in that process. 

Asset Discovery

The first step will entail performing asset discovery throughout your business to identify and record all the assets you own. As companies grow, they often discover they haven’t recorded all of their computer equipment purchases as well as they should have. This leads to a lot of disorganization within operations. 

However, if you’re in this situation, our team at Multiply can help. Our team of IT consultants and senior service technicians have years of experience and can get you set up with discovery tools and systems that will make this process much easier. We can even help bridge communications between teams when you have multiple company locations. 

Inventory Creation

As you’re performing discovery, you’ll want to record IT assets in a dedicated inventory system to ensure you always have access to that essential information. 

Our team at Multiply can also help with this step. We have a complete asset journey platform that helps visualize inventory records for easier decision-making and record-keeping processes down the line. We’ll help you get an inventory set up and integrate it within your operations successfully. 

Continuous Updates and Audits

Even after you’ve established an inventory, there is still continuous work that needs to be done. As you purchase new equipment, repurpose it, or dispose of it, you need to update those changes within your inventory records. 

To ensure both financial and operational compliance in your organization, it’ll also be essential to perform regular audits to ensure everything is running as planned. Multiply has successfully completed audits for several companies we’ve partnered with, and we know we’ll be able to assist with all your needs, too. 

How Do You Track Asset Movement?

The next aspect you may be wondering about is tracking asset movement. If you have remote workers or multiple company locations, the equipment you invest in is likely getting moved around pretty often and assigned to new employees. 

Depending on the needs of the company, this movement is tracked in inventory records a bit differently. Commonly, specific departments, locations, or employee names are recorded in inventory records. You may also see companies deploy systems like asset tag management to help in that process. 

Our asset journey platform at Multiply can also help since it provides you with real-time information about asset locations, uses, and changes. That way, you always know what’s going on with your equipment. 

What Is an Asset Tag Management System?

The most common way you’ll see an asset tag management system deployed is with barcode tracking. A barcode would be assigned to each piece of IT hardware you own. That way, it can be scanned and recorded during daily operations to ensure every item is tracked and records are updated at all times. 

How Do You Create an Asset Tracking System?

With IT asset management software and a streamlined system that our team at Multiply can help you deploy, you can create an effective asset-tracking system. The typical steps in that process include:

• Surveying your employee base to confirm device assignments
• Remediating any records that aren’t accurate
• Reclaiming any unneeded or outstanding equipment
• Verifying that all records match and are organized

How Do You Maintain Asset Tracking?

The best way to maintain asset tracking is to follow some common IT asset management best practices. That includes:

• Completing regular audits to ensure everything is being tracked correctly and records are accurate. 
• Establishing IT asset management policies and procedures that keep the entire system running smoothly. 
• Tracking the complete lifecycle of assets from beginning to end. 
• Facilitating communication between departments and company locations so everyone is on the same page. 

If you’re looking for help with any of these elements, our team at Multiply can be a great partner in the process.