How to choose the right IT asset management tool

Identifying the right IT asset management software for your organisation is an important task. Using the right tool can feel like a heavy burden is lifted off the back of your company. At the same time, choosing the wrong, or a sub-par, tool might feel like you’ve just added a few boulders to the load. The difference is as clear as night and day. After all, you’re investing in a service, so it only makes sense to choose an IT asset management software that comprises all the features that your company needs.

Here are some criteria to consider when it comes to narrowing down and selecting the right IT asset management tool for your company:

Usability and accessibility:

The ideal IT asset management software tool should be designed in such a way that employees of any level of expertise and experience should be able to easily access and navigate through the tool. This is important because it’s not just a single person, group, or tier of the organisation that will be using the tool.

• High-level management might use the tool to derive data that will be used to make informed decisions about the company's assets and future operations.
  
  
• IT administrative staff will heavily utilise the software to keep track of all the devices, monitor their health, and look out for any arising issues and maintenance requests.
  
  
• Network or system administrators will use the tool to monitor and manage all the IT assets at the enterprise level.
  
  
• Junior or entry-level employees may also need to access the tool minimally, for instance to escalate issues.
  

Ultimately, the tool should be simple, user-friendly, and allow for easy access and navigation of its features.



Robust feedback and analytics:

In today’s world, data is king. Almost everything from national-level lawmaking, to a family deciding what car they might purchase– these are all decisions backed by data. Even when it comes to IT asset management, it is vital to consider the vast potential of data and reports that can be generated from such tools.

An IT asset management software that can provide your company with solid, data-backed feedback and analytics reports can help your company stay ahead of the curve.

Depending on the size of your organisation, the volume of data being tracked on such a tool could be extremely large. In turn, extremely valuable feedback can be produced from the same. For example - what issue was flagged up most often in your organisation, and within which devices? What is the exact number of IT assets that are currently working, in repair or to be disposed of?

Security and compliance:

With the large amounts of data being collected with IT asset management tools, it is important to secure and protect such data from mishandling, theft, or loss.

The right IT asset management tool will have a robust framework in place to deal with the security of large datasets and ensure that your company stays compliant with laws and regulations in the field. A breach of compliance laws could lead to hefty fines being placed on your organisation.

Breaches cost almost $220,000 more on average when noncompliance with regulations was a proven factor in the event – Cost of a Data Breach Report, 2023

Protocols must also be in place to encrypt and protect your sensitive data from potential cyber threats and attacks.

End-to-end IT asset life cycle management:

An IT asset management tool that covers a broader base within the IT asset life cycle would help ease the entire process.

If an IT asset management software tool includes additional services such as procurement and disposal of IT assets, then a company can save both time and money by using such a tool. It eliminates the need to work with multiple different vendors when it comes to the different stages of an IT asset’s life cycle.

Cost and Pricing:

At the end of the day, IT asset management tools could prove to be one of the best cost-saving investments that your organisation will make. Whether it’s using data from the tool to make better and more informed financial decisions or avoiding sizable fines, the tool can help your company save money and time.



If your organisation is looking to find the industry standard prices for such software tools, and may also have a budget in mind, the best thing you can do is reach out to an IT asset management software firm and ask for a quotation.