5 Major Benefits Of Using An IT Asset Management Software Solution

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There is a broad range of IT assets in every IT organization. They include computers, peripherals, monitors, servers, software licenses, and more. All of these assets incur costs to purchase, operate and maintain. To govern those expenses, an effective asset management strategy is required. Without it, there can be operational delays, wastage of money, and unexpected compliance ramifications.

Spreadsheet software is a traditional asset management tool. However, it has many caveats. They are laborious to use, lack integrations, cannot automate functions, and are highly prone to errors. Ever since the emergence of IT asset management software solutions, the use of spreadsheet software is fast declining. The dedicated IT asset management software can do everything that spreadsheet software cannot do and much more. 

In this article, we take a look at the 5 major benefits of using an IT asset management software solution.

Cost-saving

Expenses towards an IT asset don’t stop after it is delivered to your organization. It is only the beginning. After that, the asset will incur operational costs, maintenance costs, and repair costs. These expenses can easily become overbearing. IT asset management software solutions help minimize asset-related expenditures. 

Dedicated asset management software solutions for IT efficiently detect and eliminate ghost assets. They have robust maintenance features to preventatively maintain assets. They also prevent you from buying unnecessary assets by making all the assets in your inventory visible at all times. These are only some of the ways by which IT asset tracking software solutions help cut down costs.

Ensure compliance

All IT assets, be it physical or digital, need to adhere to certain regulations. When they do, they are known to be compliant. Compliance policies may state how a software service is allowed to be used, and how hardware should be maintained. Failing to abide by such policies attracts audit fines and legal repercussions. 

IT asset management systems can store purchase documentation and software licenses safely and securely. They show you a comprehensive list of all the software installed on your systems. As a result of these features, you will be able to avoid software licensing complications. Moreover, you will be able to save a significant amount of money by circumventing compliance issues. 

Accurate budget predictions

Right from acquisition to disposal, the management of IT assets entails a myriad of expenses throughout this journey. Planned expenses support good returns on investments, but surprise expenses don’t. Forecasting the expenses that lay ahead after purchasing assets will help devise a sound budgeting strategy for asset management. 

IT asset tracking software solutions can accurately forecast asset-related expenses. Using Artificial Intelligence, they analyze the purchase cost of assets along with the expenses the resources will incur over their lifecycle. At the end of this analysis, the software solutions display a budget that can handle all of the asset’s expenses. 

Enhance operational efficiency

The efficiency at which your IT activities operate relies on how competent your asset management strategy is. The usage of ineffective asset tracking and management tools leads to unmaintained assets, misplaced assets, underutilized assets, and more. In turn, they hinder the pace at which you carry out day-to-day tasks.

ITAM software solutions can integrate with barcode scanners, GPS, RFID, and NFC to instantly and precisely track assets. They send notifications and alerts to help you keep tabs on crucial asset management functions. The software solutions allow you to automate the repurchase of hardware and software licenses. All of these functionalities result in higher operational efficiency.

Better decision making

It is vital to make informed asset management decisions at the right time. Doing so helps mitigate risks, circumvent costly expenses and ensure smooth IT operations. A great way to make asset management decisions is to get a complete picture of how your assets are performing. This can be a time-consuming process if done manually. Instead, you can use an IT asset management software solution.

IT asset tracking software collects data at various points of the management cycle. At regular intervals, it consolidates raw asset data and processes them into meaningful reports and analytics. These end products unveil a great deal of information such as what assets cost the most to maintain and what assets are in use the most. With this information, you can take up better decisions to optimize your asset management strategy. It ultimately leads to higher ROI, reduced costs, and increased operability. 

Conclusion

An effective asset management system helps keep tabs on all your IT resources at all times. Whether you want to track IT assets, maintain them, or analyze their performance, the IT asset management software is the best solution to do it all. If you’re looking to purchase a top-notch IT asset tracking software solution, then you should look up SmartAMS.

SmartAMS is a cutting-edge ITAM software that is loaded with industry-leading features and robust security. Additionally, it is cloud-based and available as a smartphone app. Contact them to get a live demo today.

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