What Is an IT Asset Register and How Is It Helpful to an Organization?

In a medium or big size IT organization it is important to keep track of assets. However, there are several organizations that utilize manual asset tracking methods as a result data accuracy is compromised. Negligence of asset management can lead to asset misplacement. It directly impacts the bottom line, which is why it is important to utilize IT asset management software. IT asset management software provides several advantages to the business that save the organization’s unnecessary expenses and play an important role in business growth.  

What is IT Asset Management?  

IT asset management is the phenomenon of ensuring assets are in good shape. In this process, assets are properly tracked, maintained, and sent to different locations as per the requirements. IT asset management enables you to keep assets updated and disposed of when their productive life is over. In simple words, IT asset management enables you to manage assets in all life stages such as procurement, deployment, maintenance, and disposal. Every IT asset has a limited life, IT asset management helps in retrieving the maximum value from every asset. However, there are multiple IT assets that are similar look wise that's why it is important to identify each asset separately for this purpose asset register can be used.  

What is an IT asset register?  

IT asset register is a complete asset list that an organization owns. It has crucial information that the organization uses for better asset management or making an informed decision. IT assets register is helpful in monitoring and logging assets. You can get real-time information. Apart from this, you can know where's that asset is, who is using the asset, and what is the current status of the asset.  

and IT asset register contains crucial information such as asset name category priority warranty date financial information depreciation expected life, maintenance date, etc.  

And IT asset register is also helpful in booking Assets in advance. For instance, if an employee wants to use any specific asset, then the employee can schedule or book or reserve it for a specific date and return it when the work is done. It keeps everyone informed and information is centralized.  

You can set roles, responsibilities, and permissions for every user so that limited information is visible to the user. For instance, if you define a rule of employee then an employee can only see assets assigned to him if you define the role of administrator then the administrator can see all assets of that specific location.  

The asset register enables you to keep track of asset movements, especially in giant organizations as lots of employees join and leave the organization every day. Organizations provide assets such as mobile, tablets, and laptops to the employees when they are hired. It is important to retrieve assets back from employees who are resigning. The asset register enables you to keep track of assets and notifies you about the same and all assets are collected back in stock.  

Lots of organizations ignore the importance of IT asset registers but when the number of IT assets increases it becomes complex to keep track of assets. As a result, the chances of asset theft and asset misplacement are greater. If an asset audit is performed in this type of scenario when the asset location is unknown it can be hectic for the organization. But with IT asset management software’s asset register, you can know the asset location. It can play a significant role in maintaining compliance and saving the organization from penalties.  

Conclusion

‍A business has a lot of valuable IT assets and asset management software helps in keeping track of them. It also assists in achieving maximum performance and minimizes maintenance expenses. This software increases the productivity of the organizations and provides complete visibility of assets.  

Asset Infinity helps you in overseeing IT resources rapidly and without any problem. You'll have the option to log, tag, track, and deal with all of your IT resources in a single spot.  

On top of this, Asset Infinity can likewise assist you with following your devices and hardware, stock records. Apart from this Asset Infinity can also assist you with customized asset tagging and labeling. It adds more accuracy and provides real-time information. An organization equipped with lots of IT assets must utilize asset management software and maintain an IT asset register so that useful information can be retrieved, and asset tracking can be done efficiently. Hence, an organization must invest & utilize asset management software to save expenses and grow its business.  

Frequently Asked Questions (FAQs)

Why must you keep track of IT assets?  

Below we have given a few of the reasons why it is important for keeping track of IT assets:  

1. To keep track of assets  

2. To keep assets secured  

3. To avoid asset theft  

4. To deliver better asset performance  

5. To get more asset information  

What are the various types of reports you can get with Asset management software?  

Various types of reports you can get with Asset management software such as asset movement reports, asset health reports, asset performance and maintenance reports, inventory-related reports, asset audit reports, depreciation reports, and customized reports as per the need of the organization.  

Which type of asset-tracking technology can be useful for my business?  

Although there are several technologies that are cost-effective such as Barcode, QR (Quick Response) Code, and RFID (Radio-frequency Identification). After that, there are some advanced asset tracking technologies available such as GPS (Global Positioning System), BLE (Bluetooth low energy), IoT (Internet of Things), and NFC (Near field communication). So, it depends on the requirements of your organization.  

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