Organizations find it difficult to track and manage their IT assets when there is no plan and no solid, streamlined process flow. This includes hardware, software, and virtual assets. Implementing IT asset management best practices can be beneficial to organizations in this situation.
There are plenty of benefits to IT asset management best practices, including a reduction in maintenance costs, a reduction in the number of unused assets, increased efficiency, and the ability to formulate precise IT budgets.
IT asset management is a process of maintaining, developing, upgrading, operating, and disposing of assets in a cost-effective way. It is a set of business practices that includes all IT assets a business has within its organization. It serves as a linking point between inventory, financial, risk management, and contractual responsibilities. The goal is to empower a business to manage the lifecycle of its IT assets and make strategic decisions about future investments and uses of these assets.
One of the first steps of IT asset management is identifying the value of unused software and applications. Businesses use this information to optimize asset usage while eliminating unnecessary maintenance costs. Next, this process allows businesses to find stolen software and hardware. Approximately 5% of IT assets are stolen from organizations each year. Identifying and replacing stolen components as soon as possible can minimize the losses due to theft.
Finally, IT asset management helps businesses plan for the future. They can identify the adverse impact of aging and take steps to avoid unprecedented losses.
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