Are your IT expenses spiraling out of control? If so, a solid IT asset management system might be the key to taming the tiger. Asset management allows your team to track both hardware and software assets during the duration of their lifecycles. Here is how asset management can help control your IT expenses and reduce overall overhead costs.
1. Track the Lifecycles of IT Assets
Hardware and software packages have a life expectancy. An asset management tool can be used to track hardware and software products from the day licensing kicks in until it is time to retire the asset. This gives you a heads-up when equipment needs to be maintained or when licensing for software is up for renewal. Knowing these things ahead of time allows IT to budget for purchases. Unexpected hardware failures can take a toll on IT budgets when asset management isn’t under control.
2. Negotiate Better Prices for IT Purchases
Knowing ahead of time that you will need new equipment or another software package allows you time to shop around and negotiate with vendors for the best possible price. Say your asset management system indicates that twenty four PC’s will near the end of their lifespan this year. By knowing that you have multiple purchases to make, you can negotiate with the vendor for better bulk pricing.
3. Avoid Licensing Issues
Software companies are becoming increasingly aggressive when it comes to auditing companies for licensing compliance. A software asset management system lets you track how many licenses you have, how many are in use, which users are using the software, and other key elements regarding compliance. Fees can add up to upwards of $20,000, so a little software asset management goes a long way toward eliminating these fines.
4. Provide Users With the Right Tools
Are users actually taking advantage of the products you have? Do you have enough hardware assets and software licenses to cover all your users? Have you bought assets that go unused? “Shelfware” or software that is bought, never used, and subsequently, “shelved” racks up costs that never deliver a return on the investment. An asset management system allows you to assure that workers have all the things they need, but assets aren’t wasted.
What to Look for in an Asset Management System
So, the cost savings is clear. Now, how can you be sure you’re selecting the right asset management software to get the job done?
• Look for a single solution for both hardware and software asset management.
• Look for a system that is compatible with your operating system (Linux, Unix, Windows, etc.)
• Look for a system that supports any mobile devices you have on your network. If BYOD policies are in place make sure your asset management solution will accommodate those platforms.
• Look for a system that is easy to integrate with your current software and platforms.
• Look for a system that can pull information automatically from hardware and devices on the system. Some require manual entry, which is time-consuming and often error prone.
With the right tools in place, you can get costs under control easily and quickly.
About Kyle Shepard
Kyle is a Senior Manager of the Customer Success team at Samanage. His team provides ongoing support in service management strategy for evolving customer goals. He speaks on webinars and other educational resources in ITSM. He also played college lacrosse.
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