What Is Considered an IT Asset?

What is considered an IT asset

IT asset management will help your business run smoothly and ensure you get enough value from your IT equipment. When looking into IT asset management services, a common question is, “what is considered an IT asset?” 

This article will explain what an IT asset is, some examples of IT assets within a business, and how the asset management process works. Read on to get all the details. 

What Is an IT Asset?

An IT asset is any hardware, software, or other physical computing equipment a business uses. Data centers, computers, routers, and more can all be considered IT assets. Most companies will use this technology daily, so managing and tracking its performance and lifecycle will be essential to keep things running smoothly. 

Examples of IT Assets

Several pieces of technology are categorized as IT assets. To list a handful of examples:

  • Computers
  • Servers
  • Routers
  • Hubs
  • Modems
  • Scanners
  • Fax machines
  • Computer monitors
  • Computer mice and keyboards

All of these and more are considered IT assets within a business. They all need to be tracked and managed throughout the product lifecycle. You’ve probably seen it before in your workplace. If even one piece of equipment has problems, it can disrupt the whole flow of business operations. 

When you hire an IT asset management partner or team, the goal is to take inventory of and manage the lifecycle of all assets efficiently. By creating a smooth and streamlined process where you consistently track and audit the performance of assets, you can prevent many common malfunctions that can occur as equipment ages. 

What Are the Types of IT Assets?

IT assets within a business will usually fall under three different categories. The main types of IT assets are:

  • Hardware assets
  • Software assets
  • Cloud-based assets

Managing assets in these three categories can help create an organized system within your business. We’ll look at what defines these categories in the following sections. 

What are Hardware Assets?

Hardware assets are the main computer hardware you use in your business. These can be things like:

  • Laptops and desktops
  • Tablets and smartphones
  • Main hubs and data centers
  • Routers and modems
  • Physical servers
  • Computer monitors
  • Computer mice and keyboards

Unfortunately, many businesses don’t pay enough attention to hardware systems that run many daily processes until they have an issue. However, this doesn’t have to be the case. With regular monitoring and maintenance, you can prevent many issues that can occur. It’s also helpful to manage product lifecycles to ensure you replace equipment at the right time.

What Are Software Assets?

The software programs and licenses used daily in a business are also IT assets. Common software assets include:

  • Operating systems
  • Software programs (accounting software, data management software, etc.)
  • Software licenses
  • Data rights
  • Documentation
  • Development agreements
  • Maintenance agreements

These software assets that help run a business can have a big impact. For example, if software licenses aren’t updated at the right time, it can cause a lot of trouble for a business when they suddenly can’t open and use their accounting software one day. Tracking data and the lifecycle of each of these programs helps keep everything up to date within your business. 

What are Cloud-Based Assets?

The modern business will typically save a lot of information in cloud-based storage programs. It’s simply the best way to free up hard drive space and manage everything across a single network. Any cloud-based programs you use and the information stored in them are considered IT assets. Cloud-based IT assets can also include:

  • Software-as-a-service (SAAS) programs
  • Infrastructure-as-a-service (IAAS) programs
  • Platform-as-a-service (PAAS) programs

You’ll want to track and stay up to date on all these different programs to ensure there aren’t any problems. An IT asset management team can help you efficiently manage all your cloud-based storage and programs.

Is a Printer an IT Asset?

A printer is considered an IT asset. Similar equipment like scanners and fax machines would also be considered IT assets. These typically fall under the category of hardware IT assets. So you would manage them in the same category as things like computers, monitors, and routers. 

IT Asset Management Process

You may also wonder about what the overall IT asset management process looks like. When you hire an IT asset management partner, a five-step process will typically be implemented. Those steps are:

  1. Taking inventory of all IT assets that are being used within the business. 
  2. Acquiring any new assets needed to improve IT systems or replace old equipment. 
  3. Deploying new assets into daily business operations. 
  4. Maintaining the company’s IT assets on a routine basis. 
  5. Disposing of old IT assets once their lifecycle has run its course within a business. 

An IT asset team will help ensure you get the most value from your assets at each stage. They’ll help you buy equipment within your budget with the most value and sell it for the most value at the disposal stage. If you would like help with the IT asset management process, Multiply is ready to help.

How Multiply Can Help

Multiply is a team of IT consultants. We help with IT asset and data management by creating streamlined systems within business operations. We can help you at each step of the hardware asset management process, from taking inventory of current assets to acquiring and disposing of assets at the beginning and end of product lifecycles. 

To learn more about Multiply and how we partner with companies of all sizes to bring efficiency to their asset management processes, contact us today.

Related Articles

WHAT IS IT Asset Management ITIL

What Is IT Asset Management ITIL?

Learn about the three main deliverables involved in IT asset management and how create a process to meet them.
What certifications do you need for asset management

What Certifications Do You Need for Asset Management?

Learn about the three main deliverables involved in IT asset management and how create a process to meet them.
What is a IAM certification

What Is an IAM Certification?

Learn about the three main deliverables involved in IT asset management and how create a process to meet them.

Let's Connect!