One of the first steps in the IT asset management (ITAM) process is creating an inventory of data about all your computer equipment. Your inventory can track asset costs, lifecycles, current users, maintenance schedules, and more to help you organize your entire system.
However, what trips many businesses up is choosing the right software or tools to manage asset inventory, tracking, and data. This article will explore different types of IT asset management software and help you choose the best options for your needs. Keep reading to get all the details.
What Is a Software Asset Management Tool?
Software for asset management creates a streamlined platform with all the data about your current computer equipment in one place. It typically allows you to sort through data and track key schedules in the IT asset management process.
Different tools can be useful for varying types of IT assets. One of the options is a software asset management tool that would organize data about all your software-based computer programs. That would be your software for time-tracking, bookkeeping, customer data, etc.
You may also use software for hardware asset management. This is where you would see all the data about the physical computer equipment in your business, such as personal computers or hard drives. Physical computer equipment is critical to track and manage since it is at the core of many key business operations.
What Software Is Used for Asset Management?
Along with software for different types of assets, asset management software comes in many forms and programs. Some options can be easier or more scalable than others, so choosing the right one is essential. The most common types of software for asset management are:
- Manual data-tracking software: If you’re looking for a small-scale solution, a manual option can be a cost-effective way to track information on IT assets. This involves inputting data in Excel spreadsheets or similar programs. While this is a cheap way to track information, it isn’t easily scalable as your business grows.
- Open-source ITAM software: Several forms of open-source software can be highly customized to a company’s needs. However, the thing to remember with open-source solutions is they are very technical to implement and may not have much support available if you have issues using them.
- Cloud-based ITAM software: Some cloud-based solutions can help you track all your IT assets in one place. Cloud tracking can be good because it doesn’t take up much memory on hard drives. However, many cloud programs limit the number of assets you can track.
- Full-scale asset journey platform: This is the option we offer at Multiply and what we consider the best way to go for businesses serious about optimizing their use of computer equipment. Our full-scale solutions can provide a complete overview of the lifecycle and performance data on all your hardware IT assets.
As you can see, several assets on the market have their pros and cons. Let’s take a look at what the best asset management software is and why.
What Is the Best Asset Management to Use and Why?
Our team at Multiply has over a decade of experience as service technicians and managing IT assets. In our professional expertise, implementing a full-scale data tracking platform for all your hardware assets will be the best option to optimize business performance.
When you choose our solutions at Multiply, you get an asset management system that is easy to implement, helps you visualize the data, and provides you with actionable ways you can improve your core operating processes.
There will be no more guesswork in determining when to replace and dispose of old assets because the data will provide clear information about what you need to know. Plus, you’ll be able to easily schedule maintenance, perform asset recovery, conduct audits, and more.
Overall, any growing business will benefit from a full asset journey platform. Our team at Multiply can help you scale as you grow and manage everything in one place.
How Do I Choose the Best Asset Management Software?
Ultimately, choosing the best asset management software depends on the needs of your business. One of the first things to consider is your budget. If your business is in the early stages and you don’t have much to spend, tracking assets via a manual solution may be a good starter option. Then as you grow, you can invest in a more robust setup.
However, larger companies with the budget to invest in a full-scale platform should, especially if you have many locations with lots of equipment to track. If you need a partner in this, Multiply is ready to work with you!
How Multiply Can Help
Multiply is a team of IT consultants and senior service technicians with years of experience in IT asset management. Our goal is to partner with companies and help make managing all your computer hardware easier through streamlined systems.
When you work with Multiply, you get more than software and a system to track data. You also get a partner who has your back every step of the way. We can help you implement the right strategies for success, lead audits, and facilitate communication between all teams involved.
If Multiply is the right choice for your needs, contact us today to learn more!