IT asset procurement

Depending on the size of an organisation, and its field of business, its spending on IT assets would vary. It can range from 1.4 percent (construction sector) to 8.6 percent (banking and finance sector) in terms of percent of revenue, reported in a study by Gartner. Ultimately, the total cost of procuring IT assets depends on the individual needs and goals of the organisation.

Worldwide IT spending was projected to be a total of $4.7 trillion in 2023, an increase of 4.3% from 2022 - Forecast by Gartner, 2023

IT asset procurement can be broken down into a few different stages:

Identifying needs:

More than the total IT spend, what's important is that the budget is efficiently used to get the most out of their expenditure. This means diving into the company's needs, and identifying what's required and by whom.

Let's take an example of a mid-size organisation with around 100–150 employees, of which 85 require specific devices to carry out their work. Leaving aside common-use IT assets such as printers, network servers, data servers, and more, let's break down the needs of each department.

The technology and development team likely require computers and laptops with high-level specifications. This is where more of the company's budget might be spent, as such devices would cost more than the average or lower-end ones.

The sales and HR departments are unlikely to require such high-level specifications for their laptops and computers. The company can spend a little less of its budget on the needs of these teams.



Source of procurement:

Once the specific requirements of each department's IT assets of the company are met, the next step is finding out how to source them.

Depending on the allocated budget and business needs, different procurement sources can be considered - buying, renting, and employing refurbished devices are some such methods.

Looking at the example mid-size company again, if they have a larger budget, they can opt for buying new devices for their employees. Or if they have a smaller budget, they can look to rent devices instead. But for the tech team, it might be challenging to source high-spec laptops and computers with a low budget. They can achieve this by opting for refurbished devices instead, which are likely to have the necessary specifications but at a fraction of the price of a new product.

Opting for a refurbished device can cost up to 50 percent less than buying it new. Additionally, you're being more sustainable by choosing to reuse instead of buying a new product.


Is your business looking to procure IT assets? Assetze lets you rent or buy devices at affordable prices. We also give you the choice to opt for refurbished devices, which can save you costs while preserving operational efficiency. Contact us for a quote today.

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