Discover the Key Advantages of Asset Management

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Discover the Key Advantages of Asset Management
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Asset Management is an umbrella term that
comprises all activities undertaken to manage the
overall resources of the Company comprising of
both tangible and intangible assets. The most
suitable asset management strategy is the secret
to optimum utilisation of resources. The IT
department of any organisation has to monitor
data centre hardware, spare parts, networking
equipment, software packages, etc. Information
technology Asset Management includes efficient
management of all aspects of these resources
along with the integration of inventory tracking.
The role of a productive asset management system
does not end with the financial, contractual,
functional aspects. It includes a comprehensive
outlook where the IT functions are not dealt
with, which results in maximum benefit to the
business. There is a wide range of advantages of
Efficient Asset Management to a company. The
system helps in cost minimisation, maximisation
of ROI along with adherence to company
objectives, and a futuristic vision of goals. But
how exactly does it help in the functioning of
the Company? Here are a few areas where Asset
Management helps
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Tracking

• The arduous task of tracking all ongoing
  activities forms the very basis of the
  functioning of an organisation. Asset Management
  System helps track all details like the location,
  use, changes of all assets that the business owns
  or has acquired on lease. The comprehensive
  information about the software, IT hardware,
  consumables, etc. form all the information about
  ongoing work.

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Operational Efficiency

• The detailed survey of assets and ongoing
  processes helps organisations match their
  requirements with the capabilities. The Company
  has a full understanding of its assets skills,
  condition, maintenance requirements, life cycle,
  etc. It helps in better decision making as well
  as prioritising needs.

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Multi-site Integration

• In the age of cloud technology, offshoring, and
  expansion, Companies now operate in different
  locations or data centres. With the Asset
  Management System in place, it is convenient to
  make inventory reports and source information for
  audit, insurance, finance department, etc.

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Financial Reporting

• With Asset Management system accounting on
  software and hardware becomes accurate,
  reflecting the same on the corporate financial
  statements. The system provides transparent
  information regarding procurement as well as all
  expenditure related to the acquisition of
  software and hardware.

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Asset Recovery

• Once the lifecycle of a critical IT asset is
  over, it is generally shifted to a less
  significant location, sold, or scraped. The
  real-time information regarding the present
  situation finds its place in the Company books
  with precision due to the asset management
  system.

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Risk Management

• Access to precise data about IT assets helps aids
  in identifying and analysing risks and provide
  for them. A sound asset management strategy can
  play a significant role in minimising risks and
  offers proactive solutions to it.

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Forecasting

• The better a Company can forecast industry
  patterns, the better it can function. By
  analysing the acquisition, use, and the scenario
  of IT assets, a Company could predict efficiently
  IT budgets and needs according to trends and
  future course of action.

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Accuracy

• Asset Management makes available all real-time
  data related to IT assets such as lost, stolen,
  etc. It keeps an accurate track and aids in
  recovery efforts initiation.
• To sum up, Asset Management is an essential tool
  that organizes all the processes related to IT
  resources. Organizations do have all the
  information about their assets but in a distorted
  and scattered way. Asset Management helps to sort
  all the information related to the resources and
  lay them down in a form that provides accurate
  real-time information about them. It is essential
  to employ experts who can devise a customized
  asset management solution most suitable for your
  business.

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• 44 2038801220

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