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ITAM software will save you much more than you initially expended. Pixabay

Asset management is one of the core responsibilities for owners and managers. When it comes to IT-related asset management (ITAM), there are many approaches for handling that major responsibility. These complex functions are built around several time-tested practices that work together to deal with challenges like hardware/software lifecycle processes, and measuring expenses against asset use. In order to achieve the desired outcome, company principles need to recognize the need for a three-prong strategy that involves management of services, finances, and technical functions.

If your organization’s goal is to reap the many rewards of ITAM best practices, you need to be ready to devote plenty of effort, a considerable amount of time, and enough capital to make the system work in a way that’s suitable for your company. For most entities, a workable solution comes in the form of a retail software product. The good news is that, in the end, ITAM software will save you much more than you initially expended. Here are the primary ways that any company can save time and money by using a reliable, comprehensive software program for ITAM.


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Using the Right Software Versions

When it comes to IT asset management, it’s easy to forget about which version of a software package you selected on the day of installation. Asset management software can help you verify that everything in current use is authorized and installed correctly. Keep in mind that even one improperly installed program can wreak havoc with the company’s entire IT environment.

Control the Software Asset Universe

Chances are your organization uses dozens of software products for tasks large and small. It’s important to rein all of them under an umbrella of control so you can track their usage, know when important updates are scheduled, make sure they stay in compliance, and more.


Asset management software can help you verify that everything in current use is authorized and installed correctly. Pixabay

Minding the Hardware

What happens if a critical piece of hardware fails, or an important laptop stops working? Quick fixes are available but tend to be quite expensive, and take time. Why not save the money and time by planning ahead? Even a simple asset management software product can organize every piece of company hardware, make sure there are backups for emergency use, schedule repairs at the right time, and create smart budgets for future replacements.

It’s also helpful to know that hardware includes more than desktop and laptop computers. Management needs to keep an eye on mice, switches, tablets, printers, keyboards, hubs, netbooks, scanners, phones, monitors, routers, patch panels, and servers.

ALSO READ: Why Indian Businesses Require A GST Compliant Accounting Software

Smart Inventory

Smart inventory means having an accurate list of everything you own. That’s the general accounting definition. But in the world of IT, and especially when it comes to asset management software products, managers can save both time and money by carefully governing each asset the company owns. This is not about having enough inventory on hand in case of a breakdown, as noted above. It’s about making sure nothing gets lost or misappropriated. Record every license number, name, detailed description, asset number, cost, vendor details, and other relevant data about all assets.

(Disclaimer: The article is sponsored and hence, promotes some commercial links.)


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