Hardware Asset Tracking Protects Tech Investment

Hardware asset tracking is no longer “nice-to-have,” but rather a necessity. Technology is the backbone of most organizations. They spend thousands, and in some cases even millions, to invest in the latest tools and equipment that will make them more efficient, deliver better results, maintain high standards of customer service, and perhaps even gain a leg up in the industry.

Inherent Risks Associated with IT Assets

Unfortunately, those same assets are also vulnerable to theft, loss, and security breaches, as well as slowdowns and malfunctions associated with irregular maintenance schedules. Hardware asset tracking allows even large multinational organizations to create a culture of transparency and accountability for their fixed assets. At any given time, tracking platforms can notify managers of the exact location of any fixed asset, the identity of the person who has it, its condition and complete maintenance history, and many other relevant details.

“The growing popularity of cloud services obscures the reality that technology is ultimately made up of physical equipment,” stated reporter Bruce Harpham in a June 2016 article for CIO.com.

Despite a growing awareness of the need for stricter cybersecurity standards, he added, “physical security leaves much to be desired at data centers and other facilities.” In an article for CSOOnline.com, Harpham interviewed Sean Ahrens, a global practice leader at AON Global Risk Consulting, who told him that, with the right tools, he could get into any facility in less than five minutes. Ahrens explained that “There’s a movement away from unmanned data centers and similar critical facilities. Most security efforts focus on preventing digital attacks since those represent the majority of attacks. That means that physical security often becomes a failure point.”

Audits: First Step Toward Smarter Hardware Asset Tracking

The first step any organization should take for its asset tracking is to conduct a thorough audit of its technology assets. Some companies attempt to do this through manual methods – most often an Excel spreadsheet, which is only as accurate as the employee or employees responsible for maintaining them. Almost inevitably, those spreadsheets will contain typos, various omissions, and other errors. Even with the most detail-oriented employee in charge, it’s hard to eliminate the human element when you’re manually entering data into a spreadsheet.

Hardware asset tracking enables organizations to outsource the tracking and management of their technology and other fixed assets to a platform that monitors this data in real-time. Audits conducted with the aid of asset tracking are accurate and allow businesses to make informed decisions about their technology needs. They no longer purchase duplicate assets or replacement assets before they need to, which has the potential to save them a significant amount of money. The software also brings all hardware asset tracking under one roof. Within some organizations, individual departments run their own hardware asset tracking procedures, which can cause confusion and inefficiency.

Routine Maintenance, Updates Extend Assets' Lifespan

From an equipment maintenance standpoint, hardware asset tracking platforms provide managers with a means to keep up maintenance schedules. When IT managers neglect to perform preventive maintenance and regular updates on technology equipment, those machines slow down and can become more vulnerable to security breaches. Minor repairs become expensive major overhauls or even replacements. Keeping up with routine maintenance maximizes the lifespan of fixed assets and protects the bottom line.

With Asset Panda’s free mobile app, organizations have a completely customizable hardware tracking solution that requires no special training to master. Simple and intuitive, Asset Panda lets you track your technology investments from the palm of your hand, 24 hours a day, with real-time data.