How IT Asset Management Software Saves Your Company Money

An IT asset management software solution can deliver significant value to an organization of any type or size, including improved alignment of applications and systems to core business goals and objectives, increased efficiency of IT support operations, and more effective compliance with regulatory requirements.  But, for many companies, the greatest benefit an IT asset management software application can offer is a dramatic reduction in technology-related costs. 

IT asset management software enables businesses to minimize the expenses associated with the acquisition, management, and administration of hardware, software, and other technology components.  With IT asset management software, companies can become empowered to:

Increase the Productivity of IT Staff

Time is money, and nowhere is this statement more true than in overworked, resource-constrained IT departments.  IT asset management software enables IT personnel to eliminate the cumbersome and inefficient processes that slow down output, allowing them to better manage the critical business systems and applications they support.  So, they can execute their day-to-day responsibilities in a more productive and cost-effective manner. 

Improve Inventory Management

Manual, paper-intensive inventory management activities can not only waste precious staff time, they can lead to errors and inconsistencies in technology inventory logs.  With IT asset management software, organizations can automate the tracking and management of all technology-related items.  Important information about what the company owns, where it is installed, who uses it, when it will be due for upgrades and maintenance, and other critical details are instantly available at any time.  As a result, both financial and human resources are utilized more efficiently, and greater control over and knowledge of technology assets is readily achieved.    

Streamline License Allocation

Knowing exactly how many software licenses have been purchased, and to whom they have been allocated can be quite difficult, particularly for bigger organizations that employ a large number of staff members and maintain countless end user applications.  As a result, companies frequently buy extra licenses for additional users – even though they may already have unused licenses available.  IT asset management software allows IT staff to more effectively keep track of the number of used and un-used software licenses, so they can avoid wasting money on unnecessary purchases.  

Prevent “Renegade” Software Purchasing

Without the proper controls in place, employees across a company can buy software and peripherals, without any regard for procedures, authorizations, or budgets.  This often leads to duplication, overspending, and other problems that can add up and negatively impact the bottom line.  But, with an IT asset management software package, all technology purchasing activities can be effectively tracked and monitored, to prevent “renegade” spending and keep budgets in check. 

Build Stronger Relationships with Vendors

In most companies, technology solutions are acquired on a department by department basis, with various division representatives working with multiple different vendors to obtain the applications and systems they need.  IT asset management software standardizes and centralizes all software and hardware purchasing activity. This fosters stronger vendor relationships, allowing companies to take advantage of bulk discounts and other monetary benefits.