Why is IT Inventory Management Important for Small Businesses?

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IT Inventory Management, often referred to IT Asset Management, serves to gather the information about the hardware and software products that your company owns. Setting up a quality inventory management system has great benefits that improve your company’s productivity, use of resources and costs.

Tracking your IT assets keeps things organized and gives you valuable insights into how the technology is being used. These insights help you make informed business decisions in the future.


What are IT Assets?

IT assets are everything your business needs to operate and provide tech support to your company. This includes:

  • hardware and software
  • computers, laptops, tablets, keyboards, mouses, phones
  • servers and data storage
  • wires, cables and connectors (HDMI, SVGA, etc.)
  • projectors, screens, video equipment, microphones

A pile of Apple devices sitting on a wooden table, including laptop, iPads and iPhones, for IT asset management


Inventory Tracking (Asset Management)

The concept of asset tracking has three main functions. These are:

  • Documenting all the devices within your organization.
  • Track the location of every device, at any point in time.
  • Easily schedule maintenance for all your assets, including notify techs of lease expirations.


The Benefits of IT Inventory Management

  • Informed Purchase Decisions: Organized technology allows you to gather strong insights into what IT tools your organization has, how your team is using them, and how much they cost. This information will allow you to make informed decisions when it comes time to choose a vendor for a new product or service.


  • Standardization: IT asset management helps to keep your organization organized and consistent. This consistency will help employees be more productive as they will always be interacting with hardware and software that they are familiar with. It also decreases the risk of unexpected IT costs.


  • Total Cost of Ownership: The total cost of owning an asset includes the purchase and operating expenses. This is an important number to know as it will help you stay within your IT budget. You can easily tell which assets are price efficient and which have higher costs and might be worth replacing.


  • Improved Project Management: When your devices are organized, your teams can plan projects more effectively. Your teams will then know what devices are accessible at any given time to successfully complete a project.


Implementing an IT inventory management system will allow you to track all your devices, know where they are at any given time and schedule updates. There are a variety of assorted benefits that come along with a well-planned IT inventory management system which will ultimately help to improve your organizations productivity, efficiency and budget.


If you have questions or would like more information about how to get started, contact one of our IT professionals.


To find out how SupportMyMac can help your business with proactive and professional managed services, call us at 613-693-1964

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