The number of benefits associated with IT asset management software (ITAM) is many in number. ITAM allows you to gain complete control of your business operations and increase their efficiency. 

There are many valuable features to use, such as in-depth data analysis, real-time data collection, and many other advantages you can use. That being said, having the right software will put you in a position where you’ll gain more control of how your business is running. After all, it isn’t easy to do everything manually, so what is repetitive, it’s best if the ITAM takes care of it.

Let’s not wait any further and find out the many benefits of using IT asset management software

The many benefits of using an IT asset management software 

Real-time asset tracking 

Assets are the backbone of a business. They can multiply, decrease, increase, and continuously move around a workplace. So, this makes real-time asset tracking essential to enhance the asset managing process. 

Overall, real-time asset tracking has become a need for businesses. It provides an overview of how the organization’s operations are going and what needs improvement.

So, what exactly is real-time asset tracking? Here are a few real-time tracking features to help you understand: 

  • Real-time feeds 
  • Status updates 
  • Real-time notifications 
  • Cost & time efficiency 
  • Multi-user collaboration

Reduces customer complaints 

79% of customers who complain will usually be due to poor customer experience. In short, customers are the core reason your business stands and want to get some value from an excellent asset management plan. Even if you focus a lot on competitors, it’s best to reduce that and focus on customers. 

So, how does IT asset management software reduce customer complaints? Well, when operations are running smoother, whether in the warehouse, emergency room, or anywhere else, there’ll be fewer complaints from customers as well. In this case, you have a documented process, and when you make operations run smoothly, your customer service will be top-notch. 

Reduces maintenance costs 

Relying on IoT sensors, real-time analysis, and more allows companies to overtake significant failures. 

Maintenance costs are reduced by using predictive maintenance. This term refers to equipment-specific analytics that allows companies to take advantage of historical data and determine which equipment will break down. 

For example, it is just like when you are driving your car and get informed on the services you have to perform. Many people don’t know when to change their car oil, but when the system tells them about it, it makes things easier. After all, if nobody gets informed, the only thing that might happen is the engine wearing out faster. 

So now you understand how vital predictive maintenance is and why we need it. Missing one service on time might only lead to increased costs later on. 

Increases customer value 

When customers reduce their complaints, they’re more likely to return to your services and buy again. Additionally, customer loyalty plays a huge role in the type of experiences an individual will go through when buying and won’t only be loyal from the product or service they have purchased. According to a study, only a 5% increase in customer retention means over 25% more business! 

Of course, in the end, it’ll depend on what kind of value your product or service has. However, increasing customer value has a significant benefit for your business and how it operates, contributing to much better customer experiences around it. 

Plan and schedule maintenance proactively

A considerable advantage of using ITAM is producing more effective maintenance planning and scheduling. 

The software provides more visibility into the asset utilization process and how often assets will break down. Therefore, organizations can make much better decisions when they are well aware of the issues ahead of time. 

For example, when an organization is informed of an asset breakdown, they can plan for maintenance and then schedule it ahead of time, addressing the issues. This way, time is being used more efficiently. 

Moreover, when assets require maintenance, you must know about it ahead of time because you can’t fix something while it’s working.  

Increased efficiency in hardware asset management 

IT asset management software not only allows you to take care of large hardware source service requests, laptops, desktops, and more, but there’s other hardware that you should think about applying with your ITAM. For example, here are some of them: 

  • Servers 
  • Tablets and netbooks 
  • Keyboards, monitors, and mice
  • Scanners and printers 
  • Removable media, and more 

Initially, begin with hardware items that are requested the most and try building up a stock so that these critical devices can be replaced in a short period. 

Increased control 

Increased visibility over your assets also means increased control over their operations. Knowing what’s going on gives you a better level of notice on how to handle your key assets and better understand if you have lost any or if they’ve been misplaced. Here are some attributes you can include when adding items into your asset register: 

  • Name 
  • Description 
  • License information 
  • Manufacturer 
  • Cost 
  • Details regarding third-party vendors 
  • Support team 
  • Information about warranty and support, and much more 

Increased efficiency in deployment of software assets 

Before you continue to do anything else, ensure that every corporate software is installed from an official and central source. For example, a Definitive Media Library (DML) allows you to determine if you are using the correct license and version of the software when providing it to your end-user. Not to forget that there’s also an audit trail in the deployment process. 

Comparatively, when support teams use a CD or USB driver (their own media) to install software on corporate hardware assets, many mistakes can be made during the installation process regarding licensing, not using the correct software, or the latest updates not being established.  

If we were to use a DML as the only method of installing software, we could say that the margin of error for humans is immensely reduced. 

Increased Mean time to restore service (MTTRS) 

Having an IT asset management software allows you to quickly link software and hardware services to end-users, similar to when customers contact the IT support service desk, and all assets are visible to the user logging the incident. Overall, this results in lots of time and effort being saved. 

Having linked assets also indicates that tickets are routed more effectively, resulting in much faster resolution times and the customer being up and running as fast as possible, without impacting business operations. Therefore, you are using time more efficiently and even saving money. 

Improved IT service management capabilities 

IT asset management software has many benefits. However, one of its most significant advantages is the improved IT service management capabilities when using the software. Both IT asset and service management have excellent synergies in between each other, but one advantage of the ITAM is its ability to increase resolution times. 

Moreover, someone who works at the IT Service management desk will have easy access to information concerning IT assets that are associated with a reported issue. Hence, this means that they are better able to understand the root cause and then find solutions to solve it. 

What should you consider before using IT Asset Management Software? 

Before you use the software, you must pay attention to the following: 

  • Ease of integration: find out which applications you have and integrate them with the software. 
  • Price: check how software compares between each other and what kind of prices they have. Additionally, associate the price with your needs and how they compare based on the features it offers. 
  • Support and community: it’s important you know the amount of support your tool team will offer, not to forget the response time in solving issues. Furthermore, check out what the community shares, its problem resolutions, and product information to get the best out of it. 
  • Complete lifecycle management: you need a tool that will give you a complete overview of your assets and help you manage them effectively. 

Wrapping it up 

Well, that’s about it for this article. These were the many benefits of using ITAM. Hopefully, you have already decided to start using the software only by reading this article. After all, there are many great ones out there. 

Please take into account which ITAM best fits your business and implement it into your asset management strategy. You don’t have all the time in the world, so it’s important to consider how you can better manage your assets and even reduce resolution times for your customers.  

Figure out what you can do in time, as this will also directly affect the success of your business in the long term. Technology has come a long way, and it’s providing innovations each day to make our life more efficient and easier to live! 

 

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