IT Asset Management

June 30, 2008

Even in the SME space – we spend a lot of money on technology assets. (I hear all the financial types saying too much!)

Yet too often we do not carefully and completely track the life-cycle of that hardware or software asset from the cradle to the grave – and that can waste money.

IT Asset Management is the concept of tracking and managing this asset life cycle.

How Does IT Asset Management save money?

1) You already bought it once – do you remember? Why buy it again?
2) Where is it now? – You think that the remote sales guy that used to work for you had a Laptop and cellular phone. (Sorry, he had a projector and printer too)
3) warranty & service agreements – You paid for it, don’t spend money again.
4) Service History – As detailed in my blog about ITIL reducing the cost of support by not re-inventing the wheel

Larger organizations can use dedicated asset or seat management tools and applications, smaller organizations can use free tools or existing software tools. The key is to identify and record all asset purchases with an asset number, plus all the details, both physical and financial of that asset.

The amount of data that you collect may be incredibly deep for larger organizations – to just basic information for smaller businesses.

The extra few minutes that is required updating your Asset Management tool after every Move / Add / Change (MAC) is miniscule compared to the long term benefits.

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3 Responses to “IT Asset Management”

  1. elliotross Says:

    Thanks for the comment Julien, I have seen that also.

    It is painful to watch!

  2. Jeff Says:

    Hey check out the newest and best asset management web application available. Its brought to you by StrongTech and incorporates with Google Apps. Check out http://www.strongtech.com to get started on your 30 day free trial today.


  3. “The extra few minutes that is required updating your Asset Management tool after every Move / Add / Change (MAC) is miniscule compared to the long term benefits.”

    It’s also minuscule compared to the cost of deciding to do asset management down the road.

    I once worked with a client who after a few years in business decided it would be a good idea to know where their “stuff” was. A dedicated asset tagging person embarked on a several month trip across North America to track and label all significant assets…


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