What is Asset Management in the IT world?
IT Asset Management is the set of business practices that join financial, contractual and inventory functions to support life cycle management and strategic decision making for the IT environment. Assets include all elements of software and hardware that are found in the business environment.
IT asset management (also called IT inventory management) is an important part of an organization’s strategy. It usually involves gathering detailed hardware and software inventory information which is then used to make decisions about hardware and software purchases and redistribution. IT inventory management helps organizations manage their systems more effectively and saves time and money by avoiding unnecessary asset purchases and promoting the harvesting of existing resources. Organizations that develop and maintain an effective IT asset management program further minimize the incremental risks and related costs of advancing IT portfolio infrastructure projects based on old, incomplete and/or less accurate information.
This practice has become more popular in the business world since 2008. What is exciting about Asset Management?
Saving Money- Lets assess what your company has and needs. What we can reuse internally or what we cannot reuse.
Selling Assets- Most used hardware has some value. We can manage the sale of these assets through different avenues of disposal. Ebay is an excellent way to sell used hardware. When selling the used assets we can then reuse the funds to purchase new equipment.