How IT asset management can save time and money for your IT

Nowadays, IT devices are crucial for almost every business and they also represent a significant investment. If these devices are not managed properly, they can lead to unexpected costs, wasted resources, and extra work for IT and other teams. This is where modern IT asset management can help.

Here are six ways IT asset management software can make a big difference for your IT and help you save time and money.

1. Stops you from buying devices you do not need

Many companies end up buying new IT devices only because they do not know what they already have. It is not uncommon for unused IT devices to be forgotten, for example, after a person leaves the company. This is why, if your asset inventory is not clear or kept up to date, the risk of buying unnecessary devices increases.

Modern ITAM software gives a full view of all your IT devices in real-time. It shows what is currently in use, who uses them, and if there are any free devices. This alone helps avoid extra purchases and makes sure you get the most value from the devices you already own.

2. Helps you to make better plans and budgets

Planning ahead is easier when you have good data. Without it, many IT teams are left guessing how many and what devices the organisation needs. This is especially challenging when it comes to extra monitors and accessories like headsets and docking stations.

ITAM systems give clear information about each device. Not only about laptops or phones you have in your Intune. This helps you plan what devices are needed and when. This data also helps finance teams create better budgets and avoid surprise costs.

3. Lets you stay on top of leasing returns

If you lease your IT devices instead of buying them, it is important to return them on time. Missing the return deadline can lead to extra fees or penalties for your company.

IT asset management software also helps you track leased devices, including their return dates. You can also set reminders for when a device is due back, check if it’s still in use, and make sure they are returned to the financing company on time.

4. Saves time for IT, HR, and finance

Tracking devices manually or with multiple tools takes a lot of time. In the worst case, it means checking multiple spreadsheets, sending emails, and following up with different teams and people.

With ITAM software, you can forget about manual data entry, automate processes with the help of integrations, and ensure that the whole organisation follows your ITAM practices. This also makes onboarding, offboarding, and audits faster and easier. It not only saves time for IT, but also for HR and finance.

Paf, an international gaming company with over 300 employees, saved 13 hours per week and increased purchase refunds by 75% through automated IT asset management.

5. Get better refunds by recycling devices at the right time

Unused devices can sit around collecting dust for a long time. But if you recycle them at the right time, you can often resell them and recover part of their value. Often company-used devices are of higher quality and those can still be used again (and again) elsewhere, as long as they are retired and recycled.

A proper ITAM software helps you know when a device has reached the end of its life within your organisation. You can then choose to recycle, resell, or reuse it. This saves money and supports your company’s goals around sustainability and responsible use of resources.

6. Fewer tools

Device information is often scattered in different systems or not tracked at all. It is sadly quite common that organisations have multiple tools for different ITAM practices. This alone leads to unnecessary costs or mistakes.

A modern ITAM solution brings everything together. You can manage each device from the time it was procured to the time it is retired. All teams can use the same system, which makes work faster, easier, and more accurate.

Read how IDR can help you take full control of the lifecycle of your IT assets.