If you’ve been researching IT asset management (ITAM), you’re probably wondering how it will benefit your business. There are typically three main deliverables of ITAM, which we’ll cover in detail in this article. Plus, we’ll provide information on how it’ll help you achieve your overarching business goals. Keep reading to get all the details.
What Are the 3 Main Deliverables of IT Asset Management?
To answer the main question right away, the three main deliverables of ITAM are:
- Save businesses money and help make more financially-informed IT decisions.
- Create a full inventory system that can be easily managed.
- Help your business operations run smoothly and at the highest level of efficiency.
While that covers the basics, you’re probably still wondering exactly how ITAM achieves these deliverables. The next sections will cover more detail to explain how ITAM impacts each of these areas.
How ITAM Helps Save Money and Manage Financial Decisions
Every business owner knows that technology costs a lot of money. But it’s a worthwhile (and necessary) investment since technology will run many of your primary operations.
First off, ITAM will save you money by helping you get the most value from the computer equipment you invest in.
When buying new equipment, you’ll likely have a budget in mind. Trained asset management professionals can help by negotiating with vendors for the best prices and picking the right technology for your needs based on the given budget.
Once the equipment is purchased, you’ll want to estimate its lifecycle and the value the equipment will bring over time. Estimating how long the equipment will last will help you manage financial investments in the future. That way, you’ll have a better idea of when technology will need to be replaced and the estimated costs associated with that.
Lastly, when assets age and no longer serve a purpose in the organization, they can be resold to vendors to try to get value back from them. Asset management professionals can also help with this process by negotiating with vendors to get appropriate resale value.
How ITAM Helps Create an Easily Managed Inventory System
The backbone of asset management will be the detailed inventory system you keep. You’ll want to know which assets you have on hand, where they’re being used in your company, and how well they’re functioning.
It’s common for regular audits to be implemented to manage inventory. You’ll want to keep tabs on how assets perform and ensure everything complies with proper regulations. After all, if your company is ever audited, you want to make sure everything is on file and up to date. Plus, if you don’t know where your assets are, or how well they are functioning, it can make replacing them at the right time to avoid issues for your employees difficult.
Keeping track of all the assets across large organizations can be challenging and time consuming. Fortunately, Multiply has discovery and tracking systems that make this process much easier.
We’ll bridge communication between all teams involved and help you create an ongoing system for success, even after the initial audit is completed.
How ITAM Keeps Businesses Running Smoothly
Managing the computer equipment your business uses effectively keeps your operations running smoothly in the long run. Regular maintenance that is scheduled as a part of ITAM ensures that your equipment is up to date and functioning properly. It’s the best way to prevent malfunctions that can disrupt an entire operation.
In addition, IT professionals can use best practices to ensure equipment performs at its highest capacity at all times. That entails eliminating unused data or systems that are slowing things down or upgrading equipment so it performs even better than before.
What Is the Goal for IT Asset Management?
The main goal of ITAM is to create a framework that makes your life easier while helping you get the most value from the assets your business invests in.
At the end of the day, your bottom line matters. If you’re going to invest in equipment, you should do everything it takes to get the best performance and value out of it. Your business will do better in the long run because of it.
If you’re wondering how to create an IT asset management framework that will be successful, Multiply can help you through that process each step of the way.
How Multiply Can Help You Achieve Your Asset Management Goals
Multiply is a team of IT consultants and senior service technicians. We partner with organizations to create well-structured asset management systems that will be easy to manage and help you get the most value out of the equipment you invest in.
Managing assets across global organizations or multiple locations can be challenging, but we’ll have your back throughout. Our team can help bridge communications between teams involved, create streamlined inventory systems, and assist in making more educated decisions to help your company save time and money.
To learn more about how Multiply helps companies like Salesforce and KAR Auction Services with IT asset management, contact us today!