IT Asset Management in the Age of Digital Transformation

Efficient IT Asset Management is the future – it is the one single transformational tool that can catapult organizations to high growth rates. It’s a powerful technology that provides the user with a snapshot of all software and hardware used within an organization. This involves an automated process of collecting inventory, financial and contractual data, which gives detailed information about the current state of the assets. IT Asset Management Software ensures that there is complete transparency about all the present assets of the organization – where they are located, what condition they are in, how they are performing and whether compliance and licensing are up to date. Having a sound base of technical, financial and service-related information, IT managers are able to make better business decisions to lead to higher bottom line profits.

A well integrated IT Asset Management system can lead to a host of benefits for any type of organization. It is a great way for managers to know how and where their software is being used – they are able to ensure control of software licenses, deferring new purchases and reallocating existing licenses for unused software. The system also has the ability to track renewal dates and support terms & conditions, thus making sure no additional penalties are levied for non-timely license renewal. It can aid in developing a long-term funding strategy for replacements and upgrades. This largely optimizes usage, reduces company costs and enhances the overall efficiency manifold.

Costs can also be controlled to a huge extent by investing in a good IT Asset Management software. Information can be consolidated on the IT budget, various asset distribution and software licenses in the firm, and future expenses can be wisely planned. The downtime of individual assets can be drastically reduced by regular evaluation, maintenance and planning for replacement/retirement. IT Asset Management system also plays a huge role in monitoring security and compliance issues in an organization. It is a robust system which can identify potential threats and software compatibility issues so that a more proactive approach can be implemented in resolving problem. It helps to reduce risks by having a central repository to all asset health and potential failure information Safeguarding of data is another huge roadblock for organizations and they have to make sure it does not reach into wrong hands. IT Asset Management system help to regulate permissions and access to information, ensuring only those who genuinely need the data have access to it.

Investment in an IT asset management software can prove to be major boon to companies and help them attain a huge competitive advantage. It sustains the optimal long term performance of assets and helps in their overall lifecycle maintenance. So, it is indeed time for all growing businesses to transition quickly to sustainable IT Asset Management techniques. It is the roadmap to business success and will help your organization create the perfect long-term strategic asset management plan!

Bhavesh @https://twitter.com/TechJockeys

Bhavesh is a software analyst for SoftwareSuggest and CallHippo, a company that helps connect the buyers and sellers of software. He covers topics in a variety of markets including real estate, accounting, eCommerce and others digital things. In his spare time, he enjoys reading and spending time with friends and family.

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