Effective IT asset management typically becomes important when companies grow and the number of devices gets bigger. A simple list of devices in Excel will no longer be an efficient asset management tool as you will need to start thinking more about procurement, maintenance, and smart utilization of the devices.

Managing all this solely through Excel quickly becomes time-consuming and often falls short. Poorly managed assets can lead to unnecessary costs, inefficiency, and increase manual work for your IT team or HR.

This is the point at which considering dedicated software for IT asset management makes sense. We’ve outlined 10 reasons why investing in asset management software is a sensible decision.

10 Reasons to Switch from Excel to IT Asset Management Software:

1. Always Up-to-Date Device Information

While Excel might serve as a simple asset registry, it is often outdated and does not offer any extra benefits. With ITAM software, you can ensure that device information is always up-to-date and you can easily track device usage, maintenance history, and other essential details with low effort.

2. Comprehensive Lifecycle Management

Keep in mind that IT asset management is not only about knowing what devices you have in the organization. With the right tool, you will get a centralized platform for effectively managing the entire lifecycle of devices. In addition to essential device information, you will be able to boost your procurement process, track maintenance, and even automate recycling.

3. Automated Tasks

IT asset management software helps you to save time and automate recurring tasks your IT or employees are spending their valuable time on. With ITAM software in use, you can set alerts for various things such as lease contract end dates, warranty expirations, or software updates. This reduces manual tracking and ensures that crucial tasks aren’t overlooked. Additionally, you can automate processes like purchasing and recycling. Automating the basic routines will significantly save time and money.

4. Better Device Value

ITAM software helps to optimize the lifespan and usage of your devices. When devices are properly maintained and rotated as they become available, you extend the usage of our assets. By doing this you also save costs as new device purchases can be postponed.

5. Integrations

IT asset management software often allows integration with other systems and services. These integrations further enhance and automate processes. With the right integrations nearly all-time consuming tasks can be automated. Besides that you can enrich the data via automated integrations e.g. from Microsoft Intune, JAMF or Workspace One.

6. Cost Savings

ITAM software helps prevent unnecessary device purchases and extra maintenance costs. The funds invested in acquiring ITAM software are often recovered within a few months because of this.

7. Better Security

Security in today’s world is more important than ever. With IT asset management software, you will have “someone” to remind you when there is a need to react for example when devices get lost. Besides, keep in mind that security plays also a crucial role in the disposal stage. The best IT asset management software typically also have ISO 27001 certification which further improves asset and data security.

8. Sustainability

Today, only 42.5% of electronic waste is being recycled in Europe, which underscores a critical area for companies to enhance. E-waste poses environmental hazards and valuable metals that could be repurposed. Furthermore, if you recycle the old devices with the help of correct recycling partners, they will be able to resell your old assets which creates significant CO2 compensation for your business.

With the right IT Asset Management (ITAM) software, achieving this goal becomes feasible. The best IT Asset Management software have a built-in recycling system that is linked to the asset and helps streamline the recycling process.

9. Takeback/Buyback Refunds

The market demand for old IT devices varies in time which means that the refunds recycling companies are willing to purchase your old devices varies as well. With IT asset management software, buyback offers can be automatically asked from multiple recycling companies which guarantees you the best possible price for the devices.

10. Improved Employee Onboarding and Offboarding

ITAM software also ensures that new employees have the needed devices from day one. Waiting for devices to arrive can lead to a week’s worth of lost productivity. Additionally, the departure of employees also presents a significant scenario. When an individual leaves the company and their devices are left unused in storage, valuable assets can remain unutilized for a long time without rotation or recycling.

In Summary:

As the size of your asset inventory expands, adopting IT asset management software provides a range of advantages. These include centralized control, automation, and increased asset value.