Achieve Real Asset Visibility with Effective Asset Tracking

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Achieve Real Asset Visibility with Effective Asset Tracking

Why is Asset Visibility Important?

The management of IT infrastructure presents many challenges to today's businesses. Without specific knowledge of which assets they possess, where those assets are located and how they are being used, businesses can:

be at risk of failing audits
have trouble with regulatory compliance
spend capital on new equipment when existing equipment meets the needs of staff
lose money by failing to properly depreciate retired assets in their financial records
pay costly penalties by not returning leased assets on time

Asset visibility gives your organization a clear picture of where your assets are so you can start saving money and start making better decisions about IT asset purchases.

Today's IT Environment

IT departments today are overrun with new technology. Management of all hardware and software assets is not always easy:

Data center and desktop environments are growing beyond the ability of most organizations to keep an accurate inventory.
Regulatory acts like Sarbanes-Oxley and Graham-Beach-Bliley (Financial Modernization Act) have created an urgent need for an integrated approach to physical asset control.
Power consumption and costly space are forcing data center intensive organizations to not only optimize what they own, but increase the speed of the entire IT asset life cycle from receipt to repair to retirement.
For technology driven companies, the dynamic nature of today's business environments is already too complex. It is unrealistic for them to try and track everything from laptops, Blackberries, desktops, printers and network gear using post-it notes instead of asset labels and spreadsheets in lieu of asset databases.
IT departments are also faced with the task of managing leases and other financial information, departmental chargeback, and end user demographics.

What is Holding Organizations Back from True Asset Visibility?

There are many reasons why organizations lack true asset visibility. Techtrack can help you overcome these obstacles:

Relying on inefficient manual systems. One of the largest semi-conductor manufacturers in the world uses a system they developed called "AMBWA" or "Asset Management By Walking Around". Despite acquiring sophisticated discovery-based tools and asset repositories, they could not make their system meet audit requirements and were forced to walk around and manually write down asset details and then enter data into their computerized systems.

Exclusive use of automated systems. 80% of companies have some sort of discovery-based tool deployed. These tools play a vital role in IT service management (ITSM) and software asset management (SAM), but in most organizations these tools discover less than 70% of a company's IT estate at any one time. More importantly, these tools do a poor job of telling a company where an asset is (or should be) and meeting compliance and audit requirements.

IT Asset Management does not have executive level support. When you think about it, why should IT asset management (ITAM) be on an executive's radar? ITAM is not an end result or an objective that can be reached - it is a business discipline. The best way to explain it is using the example of accounting. Accounting is a discipline. We use tools like accounting software to provide current and accurate records on the financial state of a company. The objective is not accounting per se, but the ability to deliver accurate financial information so that executives can make important business decisions. The same applies to ITAM.

Techtrack Asset Management Solutions

Techtrack asset tracking services help you make a strong business case for asset visibility and ensure you achieve it.

From consulting and planning to asset inventory to day-to-day management of the IT asset estate, we provide the solutions you need to manage your assets. Contact us today to learn more.

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