IT asset management – 3 vital keys to getting it right

by Zach Deprey


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Whether you’re a small business, a large enterprise, or anything in between, having at least a basic IT Asset Management (ITAM) process can help streamline the process of planning, deploying and supporting your IT infrastructure.  In this article, we will discuss each of the three major components you should focus on relating to this topic.

IT asset management components

IT Asset Management (ITAM) consists of a few key elements, including managing the inventory, costs and lifecycles of your IT assets from acquisition through disposal.

Controlling your inventory

An accounting system, database or spreadsheet is a good start when it comes to tracking the inventory of your IT assets. But, have you ever wondered how many devices are really connected to your network? Are you positive those old Windows NT servers at your remote office have been decommissioned? A more comprehensive IT asset management process can help take this a step or two further.

ITAM software can automate inventory processes for you, reducing the time required to manually track this information as well as reducing the risk for any omissions or clerical errors. It can also provide you a rich reporting experience, keeping inventory information at your fingertips when you need it.


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Understanding the costs

There are various costs associated with an IT asset throughout its lifecycle. There are costs related to acquisition, licensing, implementation, operation, maintenance, support, and even disposal of an asset. Often times, a company may budget for new hardware or software, but may not always be aware of the incidental or operational costs of an asset over its entire lifecycle.

Having control over your inventory will help you better understand the total costs of your IT assets. You’ll know where all of your servers, workstations and networking gear are located, how much you’ve spent on service and support, who uses them the most, how many different operating systems and software installations are out there, as well as whether or not you’re in compliance with your licensing agreements. Knowing all of this information will help prepare you for the next budgeting season.

Managing asset lifecycles

Nothing lasts forever. This is especially true with technology, where advancements can quickly render shiny new hardware obsolete the day after you purchase it. Flip the token, and that expensive suite of software might be pushed 10 years since it still does the job, even though the vendor stopped supporting and updating it five years ago.

For these reasons, it is a good idea to ensure you define and remain aware of the lifecycles of your IT assets to avoid needlessly replacing them, or reaching a potentially vulnerable and end-of-life state.

Our team of IT experts would be more than happy to help you with your current strategies. We’re here to provide you with the best possible IT solutions for your business.

Contact us and take the first steps towards better IT asset management.

Zach Deprey

Zach Deprey

Zach is VP of Technical Operations at Source One Technology and leads a team of highly skilled network engineers serving Enterprises, SMBs, schools, and nonprofits in Waukesha, Milwaukee, Dane, Washington, Jefferson, Ozaukee, Kenosha, Racine counties and across Wisconsin for over 10 years.

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