Using Asset Management For Your Company: Here's Why

Using Asset Management For Your Company: Here's Why

Capital Markets CIO Outlook | Friday, November 30, 2018

Managing assets such as data center hardware, software packages, and networking equipment is an integral part of every organization. Keeping track and maintaining the structure of all elements (processes, activities, and data) drive organizational goals and results for better operational and financial outcomes. Employing asset management means a transition from an ad-hoc situation to a precise and proactive stance where the IT environment is documented fully that ultimately results in an effective decision-making process. It not only provides visibility and control over assets but also ensures optimized asset use, driven down asset costs, and guaranteed full value of the investment made in the technology.

Managing assets does follow a series of consequences, which allows an organization to ensure cost-effective operation, achieve corporate objectives, and maximize ROI. Tracking provides a business the entire spectrum of knowing where the assets are located, how they are used and when changes were last implemented. Also, asset management delivers a full understanding of IT assets, capabilities, maintenance requirements, lifecycle, and necessity for upgradation to assist executive decision makers to maintain proper operational efficiency. Moreover, it can keep track of licenses and spin up available hardware to bolster business capabilities that ultimately results in cost saving. Organizations with multiple locations and data centers can easily generate inventory reports for insurers, auditors, and financial executives for a robust financial statement and reporting. Asset management allows the IT department to identify the areas of risk and simultaneously find a solution to avoid them.

However, in the case of forecasting, asset management provides an accurate acquisition history and a better understanding of the deployments made to identify the trends that lead to a basis for IT needs and requirements. 

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