7 Things You Need to Know About IT Asset Management

1. It Doesn’t Replace MDM (Mobile Device Management)

Securing phones and tablets is important. They need to fit into your existing IT policy. And while there are many great tools to do that, there are not quite as many options on the IT Asset Management front. IT Asset Management is the database that keeps all of your assets viewable in one place. While an MDM gives you the ability to inventory mobile devices, the remaining devices you have are un-tracked. ITAM is a necessary addition and integrates nicely with your existing MDM solution.

2. It Helps You Save Money

A great IT organization can be identified by its ability to execute. And execute they must when it comes to on-and-off boarding new team members. IT Asset Management gives you insight into what assets you need to collect and when. Systems let you set triggers so you know when someone’s assets need to be collected. You can even send the information to a colleague.

3. Excel Doesn’t Cut It

Up to about 50 people, Excel is a great solution. Once you get larger than that, it’s going to be an issue. And many companies that are growing rapidly are struggling with “The Sheets”. Ditch it for the real thing. You’ll be glad you did. The oversight is priceless and having a clean user interface, mobile access and clean data is a must 

4. Asset Nomenclature Matters

Not just the assets, but also the stuff about the assets matters. Maybe you’re taking the minimalistic “Store Only What I Need” approach. Or maybe you are hoarding data for the executive dashboards. Regardless the attributes matter. Make sure your team is clear on the difference between Model Number & Serial Number.

5. Automation Rocks. Sometimes.

Everyone hates entering things manually. And thanks to IT Asset Management software you don’t have to! It will get the data for you and store it. However, there are certain data that might be more beneficial to manually enter. For instance, the “Location” of an asset may be interesting to know, but it can be a serious breach of trust and even law. Check with your legal team on what to automate and what to do manually.

6. False Data Is Costing You

The truth is that if you’re not using an IT Asset Management solution your data is wrong (See #3 – “The Sheets”). And wrong data results in assets being lost. In some cases, assets you think you have you don’t have. And assets you have are not being accounted for. That’s not a big deal if you’re losing 1 or 2 assets a year, but the truth is it will be more in the realm of many millions of dollars lost.

7. Loaning & Purchasing Assets Is Important

Having a good process for your teams to use devices for testing or special projects is key. When a system is in place it harmonizes the process between IT Managers and the rest of the workforce. Employees should easily be able to loan devices out or request purchasing new ones. The best solutions make this process mobile.