Business Moves Ahead Thanks to IT Inventory Asset Tracking

By May 16, 2017Asset Tracking, Blog

Business Moves Ahead Thanks to IT Inventory Asset Tracking

The core of business in today’s technologically-savvy environment is the IT department. Whether it’s one person or an entire squad of support, the IT department ensures a company has the working equipment that employees rely on to keep operations running smoothly. Because businesses are relying so heavily on IT equipment, IT inventory asset tracking is one of the key functions companies need to utilize in order to keep up with all the (expensive) moving bits and pieces.

Maintaining an up-to-date inventory of IT equipment requires a flexible and customizable tracking system that provides insights on the utilization and movement of each asset. This comprehensive digital library of IT inventory and assets monitor critical asset data such as current location, usage history and depreciation value, which ultimately can drive decision-making and planning when it comes to auditing or budgeting.

IT inventory asset tracking gives companies more visibility into their IT infrastructure, allowing for better planning on what are typically expensive purchases – which sometimes are not necessary if a good tracking system is in place. The value IT asset tracking brings to a business includes:

  • Knowing what systems and equipment exists within the organization
  • Where equipment is at all times and who is using it/previously used it
  • How the assets/inventory are being used
  • The cost of the asset at purchase and when it was added to the inventory
  • Expiration dates or lease notices
  • Maintenance/repair histories
  • How each piece of equipment impacts IT and overall business services

Unfortunately, many companies still handle IT inventory asset tracking with paper ledgers, which are highly prone to inaccuracies and inconsistencies. And while some have advanced to online, shared spreadsheets, those are used by too many employees at the same time. Different versions emerge of the same document and no one knows which is the most current and data is incorrect across the board.

All IT assets have a lifespan. Some items last longer than others. Certain assets may not be as useful as initially planned when they were purchased. Others seem to have problem after problem and constantly need upgrades or patches to make them more efficient. Whether your IT inventory consists of hardware, software or a combination of both, there will always be a disposal or replacement date. Tracking the inventory of IT assets allows companies to keep track of when equipment is purchased, how long has it been used, the version, how long a particular software has been running, if there’s a lease expiring, etc. By having real-time data on each and every IT asset, employees can make more accurate and accountable decisions on if they should replace equipment, install a patch on a questionable application, or update the operating system company-wide.

IT inventory asset tracking is an enormous task – and one of the most important actions performed by any organization. The larger the organization, the more challenging it is to stay on top of IT assets as they move from place to place both inside and beyond your own four walls. The opportunity for damage, loss and even theft is on the rise. If you haven’t taken proper security measures to keep up with each piece of equipment in your inventory, you’re wasting valuable dollars replacing and fixing equipment and even more importantly, putting your employees and potentially even your customers at risk if confidential data ends up in the wrong hands.

Asset Panda optimizes your IT department by streamlining the process of tracking, managing, and supporting your IT inventory asset tracking needs while simplifying every task related to them. Closing the loop between all the departments you service, Asset Panda seamlessly connects each asset to an appropriate action.

Asset Panda is simple to use and completely customizable, from the dashboard to the columns, fields, notifications, alerts, reports, security settings and more. Analyze your data from a high-level view, issue reports, cut waste and save time and money. With Asset Panda, you can log in one central location data for each IT asset, its complete maintenance history, insurance policy information, lease/purchase information, appreciation and depreciation figures, its exact location, condition and the identity of the current user.

At Asset Panda, our philosophy is that clients should be able to track their assets any way they want. It’s time to optimize your IT inventory asset tracking. Let us help. Give us a free try for 14-days by visiting assetpanda.com.

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