How IT asset management software supports business growth

The core assets of an organisation are the main pillars of its operations. The proper management and employment of these assets, through IT asset management software, directly impact the performance, growth, and profitability of the business.

Here are some of the ways in which effective IT asset management can drive your business growth:

1) Increased customer satisfaction and retention:

Ever had the experience where you were browsing an online web page, or using an app on your phone and suddenly, it crashed? No warning, no time to react, and maybe even a payment you were trying to make failed. This is what happens when a massive outage occurs, i.e. the crucial IT assets of the company suffer from technical problems.

This has happened countless times in the past, even with massive enterprises like Amazon Web Services and Facebook. And most of the time, the reason for the outage can be traced to the back-end IT servers of the organisation. These outages not only end up being extremely costly to the companies but also harm their reputation as reliable service providers.

Effective IT asset management software can help mitigate and reduce the risk of such outages through proper asset tracking and ensuring that required maintenance and repairs are promptly carried out. In case of an outage, the software can help minimise costly downtime by providing useful insights that can aid in identifying and quickly resolving the issue.

When your company’s IT assets are well maintained, it ensures the smooth, consistent, and timely operation of your services. In turn, this results in happier, more satisfied customers who are likely to stay loyal to your company. This might also result in an increase in the size of your customer base when a positive reputation is formed around your organisation.



2) Reduced expenses:

IT asset management software is a cost-saving investment. What this means is that when an organisation decides to employ such a tool, they can, in turn, reduce an assortment of costs, expenses, and potential fines they would otherwise have to endure. Let's break this down further:

• Efficient IT asset management software can help track, analyse, and provide useful data on a company’s IT asset base. Data on performance, cost, history of incidents, and more. This data can help companies make better, more sound financial decisions. In turn, saving money while improving, or at the least maintaining, performance levels.
  
  
• Using an IT asset management tool can also help eliminate the problems surrounding the common approach of manual spreadsheet asset management. Reduced risk of human error, real-time tracking of assets, easy and unique identification of IT assets. These parameters can help mitigate the loss or theft of assets and even allow for better chances of recovery. This enables companies to save money on having to replace valuable IT assets.
  
  
• Additionally, companies can stay safe and compliant by using IT asset management software. Being compliant means that companies adhere to the rules of the land for data security, privacy, confidentiality, and much more. By doing so, organisations avoid hefty legal fines or fees that they might otherwise encounter without the right tools in place.
  

By reducing costs, organisations can improve their financial stability. Businesses also have the choice of investing or re-allocating this now-saved money as they see fit.

3) Optimised utilisation of assets:

Poor IT asset management can lead to suboptimal allocation of resources, increased costs, and hindered performance. The use of IT asset management software can help solve these problems. Valuable insights, such as which device is suitable for a particular team, can be gauged using such a tool, which in turn can help improve productivity. With these analytics and real-time data reports, IT asset-related obstacles and inefficiencies can easily be identified and addressed.

Through improved utilisation of its assets, an organisation can take better decisions regarding its future IT asset procurement and in turn reduce unnecessary or wasteful expenditure.

Companies can also look to dispose of their old or dead devices at a reasonable rate, while also claiming depreciation in their financials. Learn more about Assetze's IT disposal services.

4) Increased efficiency:

IT asset management software can help businesses automate a large chunk of the asset management process. Scheduled maintenance or service alerts ensure that the IT assets of a company are well-maintained and in ideal working conditions. This approach helps increase the efficiency and productivity of a company, while also prolonging the useful life of its IT assets. Unpredictable problems or breakdowns and unnecessary repair costs can be limited by using an IT asset management tool.

When all the IT assets are efficiently maintained and managed, it enables the business to scale and grow effortlessly. In contrast, when an organisation’s assets are poorly managed or manually tracked, it is extremely difficult to smoothly grow and scale the business. Increasing inventory and adding IT assets into an already messy IT asset management system would only sabotage a business’ chances of survival.



5) Better decision-making:

IT asset management software can provide insightful, real-time data and analytics on tracking, utilisation, and status of a company’s IT assets. This information can be used by a variety of teams within the organisation, ranging from Human Resources, Finance and Budgeting teams to the Network and IT Administrative teams. These teams can make better, more informed decisions about resource allocation and utilisation, budgeting and expenditure, quality and performance checks. IT asset management software can help build a proactive and robust framework for decision-making within an organisation.



Effective IT asset management solutions can significantly, and more importantly - positively drive a business’ growth. This growth can be seen in many sectors of the company’s operation: customer or user satisfaction, increased efficiency, better use of its assets, overall better decision-making, and reduced expenses.