ITAM offers many benefits to organizations, including facilitating regulatory compliance. Government regulations, like the Sarbanes-Oxley act, were instituted after large-scale and highly publicized corporate frauds, now require companies to prove that they have complete control over their fixed assets, including all hardware and software resources. Companies need effective systems that can tell them immediately who has a particular asset and where it is located. They also need to track assets that have been disposed of, to ensure that their financial records do not include assets they no longer own.

With IT assets, the challenges to regulatory compliance are many. As new technology is procured, older assets can be moved to other users and locations, or disposed of altogether. In the absence of an effective tracking process, changes to an asset’s status may not be recorded properly in a company’s GL. Assets that have been disposed of may remain on the books, slowly depreciating, instead of being written off. In the opposite case, companies may inadvertently write off an asset that is still physically located in their office.

ITAM can solve these problems by providing clear data on which assets a company has, who has them, and where they are located. Internal and external audits are much easier with accurate, easily accessible records produced by an ITAM system.
TechTrack ITAM solutions use bar code tracking, with accuracy rates of 98.8%, allowing for fast and efficient data capture of an organization’s entire IT infrastructure.

About Techtrack
TechTrack Solutions Inc. is a privately held Information Technology Asset Management (ITAM) Software company headquartered in Vancouver, British Columbia, Canada.  Over the past 10 years, Techtrack has been delivering IT asset management solutions solving customers’ business problems as they relate to asset management. Their core areas of expertise are in asset management and asset tracking software, asset life cycle best practices, physical inventory and reconciliation services.

Techtrack provides asset tracking and management solutions to leading organizations throughout North America including fast growing FORTUNE 1000 companies such as Yahoo!, Electronic Arts, Expedia, Salesforce.com, NASDAQ Stock Exchange and HP.  For more information on Techtrack or to contact an ITAM solutions expert please visit www.techtrack.com. 

For more information contact:
Kevin McGrew
CEO
Techtrack Solutions
604 684 5002
kmcgrew@techtrack.com
www.techtrack.com