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Everything You Need to Know About IT Asset Management

By June 17, 2020No Comments6 min read
IT Asset Management

Every business has some room where they have kept their old and unused technology. This room is stuffed with various cables and cords. No one knows where to plug these cables. You will find a shelf of old keyboards. Also, there will be an old monitor that you might use in an emergency. You might also have some external hard drive that is tucked away in some file. This external hard drive might still contain some important information. Many companies think that they can use their old gadgets in case of emergencies.

Companies have no idea about their IT assets. They don’t even know about the existing software solution that they are using every day. Thus, you can’t expect them to remember old IT assets. You can’t determine your IT needs if you don’t know about your current IT assets. Also, you can’t determine the risks associated with IT assets. You should have a complete understanding of your IT-related assets. The best way to solve this problem is by creating an IT asset management program. This program will help you in handling your IT assets. You can also control your costs. It will also help you in mitigating business risks.

Definition of IT Asset Management:

Many companies think that IT asset management only involves the inventory of your organization hardware and software. This is an important step in IT asset management. However, IT asset management is not limited to this step only.

If you know about your organization’s existing IT assets, then you can make better decisions. It will help you in understanding your business technology needs. IT asset management will help you in understanding your IT assets. You can understand the value of these IT assets. These IT assets can be both unfavorable and favorable for your business. You can use this roadmap for making better IT decisions.

Advantages of IT Asset Management

If you have a good IT asset management plan, then it will help you in saving your money and time. You can maximize the usage of existing resources. Also, you won’t buy any unnecessary IT assets. If you are properly managing your IT assets, then your software will remain up to date. You can identify inefficiencies in your IT network. Thus, you can easily address and fix these issues. We are going to talk about some of the advantages of IT asset management.

  1. Cost Savings

IT asset management will help you in understanding your business needs. You will invest money only in the right technology. This will act as a structure for your future and current projects. You will know about the equipment that you need to buy in the future. Companies can use IT asset management for improving their TCO or Total Cost of ownership. You can tie the related costs in a lifecycle plan.

Organizations are investing a lot of money in buying hardware and software. Thus, you need to make sure that these assets have a lifespan. You need to update or replace your IT assets after their lifespan is over. IT asset management will ensure that your new equipment is compatible with old IT assets. This will help you in mitigating the IT security threats. There are many IT assets that you can’t update. Thus, this is the only way to protect those devices.

If you are not handling your IT assets properly, then it will become very difficult to identify issues. Thus, you can’t implement measures that will help you in saving money. Your IT asset management strategy will help you in understanding your existing technology. You can properly utilize the IT assets you already have.

  1. Ensure Security Compliance

It is difficult to keep all your software and hardware systems updated. If you are not keeping all your systems updated, then you might face some legal fines. Your IT asset management plan will help you in protecting your business during a license compliance audit. Technology vendors want to ensure that their data is protected. They want to make sure that the integrity of their data is maintained in all the systems. Many companies install software that was licensed for a single system in multiple systems. This is a violation of TOS. You can face up to $30,000 fine for this violation.

  1. Better Data Security

The best thing about IT asset management is that it will help you in protecting your data. Data breaches are the biggest challenge that modern companies are facing. Your IT asset management strategy will help you in finding vulnerabilities in your IT network. Thus, it is very important to work on an IT asset management plan. You need to make sure that all your networks are safe. Also, make sure that you are protecting your network from insider threats. Every month more than 600,000 hard drive crashes in the USA. You need to make sure that you can recover your data in case of a hard drive crash. More than 60% of companies shut down after a data breach. Thus, make sure that you are regularly backing up your data.

  1. Support Green Initiatives

Your IT asset inventory will help you in reducing your energy usage. Old technology will drain more power when compared to new technology. Sometimes you can reduce the printers you are using. Also, your IT asset management plan will help you with recycling your old technology. Thus, you can use your old equipment for doing some simple tasks.


IT Asset management is becoming important for every business. It will help you in controlling your IT costs. You will only invest your money in the resources that you need. Also, it will help you in staying compliant. Customers love companies that are trying to protect the environment. You can reduce your carbon footprint by using your IT asset management strategy. Also, it will help you in improving your data security. Your IT asset management strategy will help you in finding vulnerabilities in your system. If you need more tips regarding IT asset management, then you can contact Bleuwire.

Contact us today to learn about Bleuwire™  services and solutions in how we can help your business.