Why is IT Inventory Management important for all small businesses?

IT Inventory Management, often referred to IT Asset Management is used to gather your company information about the hardware and software products that you own. Setting up a quality inventory management system may sound time consuming but over time you will see great benefits that improve your company’s productivity, use of resources and costs.

Tracking your IT assets not only keeps things organized but it also gives you valuable insights into how the technology is being used. This will help you make informed business decisions later on down the road.

Asset Tracking:  

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

  • Allows for documentation of all the devices within your organization.
  • Allows for the ability to identify where every device is at any point in time.
  • Allows for easily scheduled maintenance times for all your assets.

The Benefits of IT Inventory Management:

  • Informed Purchase Decisions: When your technology is organized you will be able to gather strong insights into what IT tools your organization has, how they’re being used 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: This is the total cost of owning an asset including the purchase and operating expenses. This is an important number to know as it will help you stay within your IT budget. You will easily be able to tell which assets are price efficient and which have higher costs and might be worth replacing.
  • Improved Project Management: When your devices are organized it allows your teams to plan for projects more effectively. Your teams will then know what devices are accessible to be used at any given time in order 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 allow for scheduled 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 below.

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