Physical Asset Management Software

When you’re faced with thousands of assets spread across your organization, it’s far too easy to lose track of what’s working and what isn’t. That’s why we created Asset Manager: a comprehensive physical asset management solution that integrates everything about your business – from IT and manufacturing equipment through to office supplies, vehicles, even intellectual property – into one centralized system.

In this guide, we review the aspects of Physical Asset Management Software, free fixed asset depreciation software, fixed assets software for small business, and benefits of it asset management software.

Physical Asset Management Software

I’ve been in the IT world for a while, and I’m still amazed at how many companies don’t have an asset management system. They might have a spreadsheet or two that they use to track their assets, but that’s not enough – especially when it comes to large organizations. You need software that will help you keep track of all your equipment, from office supplies like printers and computers to refrigerators and air conditioning units. You also need something that can connect all this equipment together so it can be monitored remotely. That way if something breaks down or needs maintenance or repair, you’ll know about it before it becomes an emergency situation (which could cost your company thousands or even millions).

Keep your assets organized.

You can keep your assets organized by type, location, owner, department and task. In addition to these categories, you can also use the date of creation or last modification as a filter.

Know where everything is located.

As a business, you need to know where everything is located at all times. If you can’t find your printer, or don’t know which server is down or where to find a spare part for your equipment, it’s not going to be easy for your employees and customers.

Asset management software can help. It’ll keep track of the location of every piece of equipment in your company—plus when they were last used and how much they cost. This means that if an employee needs something moved around (like a table) or if there’s an issue with one of their machines (like a broken printer), they’ll be able to find out exactly where it is without having to go back through employee records or try calling up everyone who might have moved it.

Maintain your assets.

Maintaining your assets is the most important part of asset management. The goal of maintenance is to ensure that your assets are functioning properly so that they can be used as intended and meet their intended life expectancy.

To do this, you need to keep track of when assets need to be serviced or replaced and make sure you have the right tools and parts on hand for repairs. You also want to make sure you have the right people with the right skills ready at all times to fix any problems that arise. If a repair is going to require more than one person working together, it’s important that those personnel are familiar with each other’s workstyle so they can communicate effectively during urgent situations like an emergency shutdown or failure.

Keep track of who is responsible for each asset.

One of the most important parts of your physical asset management software is knowing who is responsible for each asset.

This can be a good way to reduce costs by reducing the number of people involved in each transaction. You also get assurance that the right person is available when needed.

Make sure you know who’s using what and when, so you can plan for maintenance or repairs.

As you know, making sure your equipment is being used properly is important. The right asset management software can help you make sure that the right people are using the right assets at the right time.

A good way to make sure your equipment is being used properly is by having a plan for maintenance and repairs. Knowing who is using what when allows for better planning when it comes to maintenance and repairs, since it’s easier to keep track of what needs repair when you know how much use an item has had.

Connect your equipment to the internet of things, so you can track it remotely.

You can connect your devices to the internet of things, so you can track them remotely.

This is great because it means you can see how they’re performing and make any necessary adjustments without having to be there in person.

If your equipment is connected to the internet of things, you also won’t need someone on site as often—because it will be able to self-report its own health data (like temperature, humidity levels, etc). This saves time and money—and makes sure that your equipment isn’t damaged or broken down unnecessarily.

Track and report on the performance of your assets, so you can forecast budget needs and avoid unexpected costs.

Track and report on the performance of your assets, so you can forecast budget needs and avoid unexpected costs.

Online tools to track and report on the performance of your assets are available at [link]

Even in a world of software-as-a-service and cloud computing, companies still need a lot of hardware to run their operations – servers, routers, switches and other types of computers in addition to the obvious stuff like desks and copiers.

Even in a world of software-as-a-service and cloud computing, companies still need a lot of hardware to run their operations – servers, routers, switches and other types of computers in addition to the obvious stuff like desks and copiers.

While all this hardware can be managed remotely, there’s still a need for physical access. That means you have to maintain physical inventory records which are often kept on paper spreadsheets or manual spreadsheets in databases. This is an incredibly inefficient process that slows down your ability to manage and optimize your IT infrastructure while also increasing risk around compliance issues related to asset management.

free fixed asset depreciation software

It’s a very challenging task for every organization to track the location, quantity, condition, maintenance and depreciation status of their fixed assets. To manage and maintain such tasks, a dedicated process is designed i.e Fixed Asset Management. Fixed Asset Management is an organization’s process of keeping a track of the fixed assets and managing them for the purpose of financial accounting, theft prevention and pre-emptive maintenance.

Fixed assets are a very important module a business uses but not limited to computers, tools, software, or office equipment. However, a specific tool or tool is used to manage the same, without an accurate method of keeping track of these assets it would be very easy for a company to lose control of them.

Asset tracking software enables organizations to track assets it owns, locations, who possess it, about the transactions, maintenance schedule, and the cost and depreciation of each asset. The asset management software also renders reporting facilities such as pre-built reports, category-wise, and department-wise assets reports, check-in/check-out, the balance sheet value of assets, assets payable, audit history, and transactions. Such information is captured in one program, and by doing this, companies can reduce expenses through loss prevention and improved equipment maintenance and reduce unnecessary equipment purchases, and they can more accurately calculate taxes based on depreciation schedules.

Asset management software is generally used to track the information related to an asset for financial reporting purposes and the physical location of an asset. Whereas the financial reporting elements of tracking relate to accounting procedures and valuation needs but may or may not relate to location information. Plant & Equipment, Buildings, Fixtures & Fittings, Machinery, Vehicles, Heavy Equipment are some commonly tracked assets; you can easily manage them through fixed asset management software. If you are looking for top software in the same category, you can find some leading options from here. Please take a look….

What are The Top Fixed Asset Management Software?

» About Sage Fixed Assets:

Sage Fixed asset software merges with core accounting functions in a complete, flexible, and automated asset management system. This increases productivity through a streamlined process, and automation increases productivity by more than 50%. Sage Intacct fixed asset accounting software stimulates and simplifies accurate accounting throughout the entire fixed asset management lifecycle. Sage software enables the organization to work with a single set of asset-related data such as asset-acquisition, depreciation, and disposal information which are shared with the general ledger accounts payable and purchasing. This software enables you to maintain separate tax and accounting books easily and automatically record different depreciation methods for asset categories. By using this software, it’s easy to gain control of fixed assets. It enables you to centrally manage and safeguard your business’s fixed assets by making your job easier to track and report asset information including condition, insurance status, and maintenance logs. You will be able to tag fixed assets with dimensions to track how costs are distributed by location, department, project, and more.

» Sage Fixed Assets Features:

» Capterra: 4/5 » G2crowd: 4.1/5 » GetApp: 4/5

“By streamlining purchasing, Sage Intacct has freed up my time, so I can learn more about how best to use the software and focus on training our supervisors. In fact, I’ve shifted 70% more of my effort into the financials themselves, as well as important projects like preparing our first-ever comprehensive facility-wide fixed asset inventory.” – Mike Regulski Finance Director, Bay County Medical Care Facility

Upkeep fixed asset management software increases your uptime. Upkeep automates preventive maintenance tasks by enabling operators to create maintenance requests. It’s an easy and quick way to assign work orders to technicians with the Upkeep asset management solution. UpKeep is helpful is changing the trend of asset management from a manual, difficult process to a streamlined, efficient flow of communication. UpKeep enables you to manage and track every asset from a unified platform. Alongside, lets you create one-time or recurring work orders for injection machines, forklifts, conveyor belts, transport vehicles, and anything in between. With UpKeep it’s easy to track asset downtime, track asset usage, set up automated workflows, track costs, create and assign work orders, and with this data available easy to run reports.

› $35.00/month/user ($35 per user per month when billed monthly)

» Upkeep Fixed Assets Features:

» Capterra: 4.7/5 » G2crowd: 4.5/5 » GetApp: 4.6/5

“UpKeep is a great service for managing work orders, tracking assets and scheduling your team’s time. The asset system is great for tracking parts and preventative and reactive maintenance that has been performed on individual items such as HVAC units. The ability to upload pictures and other files such as repair manuals, work orders, and assets is also a huge plus. All around UpKeep is a great piece of software that I would recommend to anyone with a medium to large size business or anyone managing multiple properties.” – Liam

IBM Maximo asset management software provides essential insights for intelligent asset maintenance and operations. IBM Maximo is a fully integrated asset management platform that enables you to improve operational availability and reduce the risk, by using advanced analytic tools and IoT data. Organizations related to OT and IT have the tools to operate the physical assets with visibility and control across the enterprise to optimize performance, extend asset life cycles, and reduce operational downtime and costs. It simplifies the maintenance of all asset types irrespective of their location; new assets can be set up quickly and upgrade enterprise asset management (EAM) software automatically for nonstop uptime, reduced costs and minimized risk. The key benefits include improve operations, integrate asset information and history, unify asset management process, extend asset life cycles, optimize maintenance work processes.

› $164.00/user (Pricing of Maximo EAM SaaS solution is $164 per user.)

» Capterra: 4.2/5 » G2crowd: 4.2/5 » GetApp: 4.1/5

“We save an average of two days per monthly report with IBM Maximo, because data consolidation is much more automated and efficient.” – Marcus Russell Project Manager, OSRL

AssetCloud is the most feature-rich asset tracking software in the industry, besides being the most complete solution available from one provider. With AssetCloud ditch the traditional spreadsheet. Tracking fixed assets whereabouts, who has it, and return details. By checking out and checking in assets liberates end-user responsibility of assets management and enables the reallocation of assets throughout the organization. Performing scan-intensive transactions just got easier with Asset Cloud. Tracking assets get much user-friendly on iOS, Android, or Wasp mobile computer devices. AssetCloud’s mobile flexibility helps you to stay connected and up-to-date on all your asset activity wherever you, or your assets, go.

» AssetCloud Fixed Assets Features:

» Capterra: 4.2/5 » G2crowd: – » GetApp: 4.1/5

“Since it’s fast and accurate, the software allows our technicians to get more work done, yielding several thousand dollars of annual labor savings.” – Maurice Fuller Executive director of Operations for Excell

Asset Panda is a cloud-based fixed asset management software solution. They support a powerful cloud-based platform integrated with free mobile apps to deliver a simple and secure way of managing your assets. The apps are simple and easy to navigate by enabling their clients to deploy them at every level inside and outside of the organization. Their pricing is simple and transparent. You just have to pay for the assets you track without any hidden user charges and location or other usage fees. Some of the important AssetPanda features include Mobile Apps that are free to install and Powerful (SaaS) Platform, scanners, software or spreadsheets that are inexpensive lets you track and manage your assets simultaneously, highly configurable, quick implementation, affordable, with better Information/decision making.

» Asset Panda Fixed Assets Features:

» Capterra: 4.6/5 » G2crowd: 4.2/5 » GetApp: 4.7/5

“My staff, my coworkers, my boss are consistently amazed at the amount of work that Asset Panda is doing for us that we have never had before.” – Brittney Touchin Marketing Events Coordinator

360Facility is an asset & facility management software designed to manage property and asset maintenance by reducing costs and improving operational efficiency with the help of a fully integrated system with all the necessary records for real estate and facilities. 360Facility software enables you to assess facility conditions by helping you to manage and prioritize all aspects of future repairs. Real-Time Reporting helps you identify and sort issues by type, region, or responsibility and take corrective action. 360Facility facilitates to securely manage vendors by monitoring vendor activities and access work orders/assets in real-time. The location-access of all the users in the organization can be managed using a single source key access database within their facilities. It’s easy to update work orders, attach images, or review labor logs all from the 360Facility Mobile App.

» 360Facility Fixed Assets Features:

» Capterra: 4.6/5 » G2crowd: 3.9/5 » GetApp: 4.7/5

“360Facility allows for easy metrics to be put into place to track our success. We were able to establish a baseline SLA metric for our team to manage their work and prioritize their time.” – Gary Glawe Senior Director of Ballpark Systems

CHEQROOM asset management software makes your inventory easy to access and manage from the ease of your phone or from the web. It enables you to make the right assets available when needed, by properly organizing them in your inventory system. Lets you have full control of your assets by Knowing who is using a particular piece of equipment, since when and when it’s due back. Track your AV or IT assets and control them from loss or damage. In case of any loss or no matter anything, your inventory information is safely stored online which can be accessed from any device at any time. Some of its main features include instant troubleshooting by identifying problems on the spot by tagging the item, and even adding an image, instantly identify, check-in or check out equipment anywhere with a quick scan of the QR tag, syncing CHEQROOM to your calendar app can enable you to schedule.

» CHEQROOM Fixed Assets Features:

» Capterra: 4.5/5 » G2crowd: 4.8/5 » GetApp: 4.6/5

“As a marketing & development studio, we are always looking for solutions that can both fulfill our clients’ needs and are simple and intuitive for them to use. Out of all the products we tested, CHEQROOM was the only modern and functional solution – it just has everything we have ever wanted.” – Dmytro Grechko CEO

AsseTrack FAMS is a web based asset management software designed for the efficient management of any company’s fixed assets. Each Institution needs to know the value of their fixed assets, their location, custodian, the date they were checked out, expected return date and the current status of each asset. It is also important to have a software that tracks the movement history of each asset and its depreciation as time passes by. The main part of our Fixed Asset Management software is to be able to scan/discover all the fixed assets in your network. Only when you have discovered all the fixed assets you can efficiently monitor and manage them. Our fixed asset management software gives you a wide range of asset scanning methods to make sure that you get them all. This software helps establishing a computerized system for tracking and recording all fixed assets and generates statutory, business and control related standard and dynamic reports. It improves management of widely dispersed assets of an organization, resulting in better accounting practices, maintenance and upkeep of the assets.

› $50.00/month/user (150)

» AsseTrack FAMS Fixed Assets Features:

» Capterra: 5/5 » G2crowd: – » GetApp: –

“AsseTrack FAMS is an easy to implement and use software as it easily user easily tags and maintains fixed and mobile assets and captures maintenance and assets upgrades. Generally its an efficient and effective software.” – Nelson C. / Liason Officer

Limble CMMS’s Enterprise Asset Management module can be used up to 100,000 Assets, to track exactly what is needed in an easy-to-use and searchable tree structure. It allows to know the health of your assets at every point in time, and what they are costing you. Limble CMMS provides complete and detailed Maintenance Logs, with unlimited custom fields. It helps to organize your assets in a clear parent-to-child hierarchy. Their customized dashboard provides real-time, granular reporting with KPIs such as MTTR, MTBF, etc. All your assets can be marked with a unique QR code to lookup the assets. No separate hardware is needed.

› $35.00/month/user (Starting at $35 per user per month)

» Limble CMMS Fixed Assets Features:

» Capterra: 4.8/5 » G2crowd: 4.9/5 » GetApp: 4.9/5

“I started using Limble after trying out many other off the shelf CMMS softwares and I quickly fell in love with the ease of use, intuitiveness yet the power this tool provided me and my team. The ability to see automatically generated and customized reports meant that I could choose whether I wanted to see things at a micro level or a macro one, or both of them together.” – Mohammad Hassaan Akram Factory & Maintenance Manager, Unilever

Infor CloudSuite EAM is a purpose-built asset management software that can be scaled and transformed as organizations change and grow. CloudSuite EAM software automates asset monitoring by incorporating innovative workflow, alert management, A.I., mobility, analytics, IoT, and drone technologies. It helps to consolidate all the asset data into a single, integrated repository to help improve productivity and profitability. The software is designed for manufacturing, energy, healthcare, public sector, and more. It provides Integrated analytics. The exceptional Mobile application provides seamless connections with CloudSuite EAM.

» Capterra: 3.3/5 » G2crowd: 4.1/5 » GetApp: 4.9/5

“The Large Hadron Collider is the largest and most complex machine ever built by mankind. We use CloudSuite EAM for managing the materials and assets while they are being put into operation and production, and for the maintenance. We can do this with no modifications of the software, and with a basic support configuration.” – DAVID WIDEGREN HEAD OF ENGINEERING PROCESSES SUPPORT, CERN

Nektar provides client and asset-specific configurable platform. It helps to manage all of your assets in one place. Assets can be tagged with physical tags c/w QR codes. Work Orders can be directly from the asset inspection data feed. Assets Work Order life cycle data can be reviewed from anywhere. Nektar provides a platform to create fully customized reports suiting your requirements. The real-time business intelligence, with customized dashboards and widgets, provides real-time reports on what’s happening on the field. The unique GIS Integration can be used to filter, map and display in GIS base maps. Nektar also provides the Offline working mode and sync when the system is back online. Nektar also provides Open APIs to share the data with other systems.

» Nektar Data Fixed Assets Features:

» Capterra: – » G2crowd: » GetApp:

“The ability for the Nektar solution to provide live data collection using an iOS device, and being able to view that data instantaneously from virtually anywhere will definitely contribute to any project’s success. Nektar provides us with the ability to monitor work as it is completed as if we were on-site, something we have never had.” – Engineer & Senior Asset Manager Transmission Line Assets – SaskPower

Fixed Asset Management Software Buyer’s Guide

Fixed asset management is the process followed by organizations for tracking and maintaining their physical assets and equipment. Asset type can be of any category including vehicles, computers, furniture, and machinery. Fixed asset management facilitates organizations to monitor equipment and vehicles, analyze their condition, and strive to keep them in good working order. This is followed to minimize inventory loss, equipment failures, and downtime. Thus improving asset’s lifetime value.

» What is Fixed Asset Management Software?

Fixed assets are one of the most important modules in any business. With the growing technology, it is easy to maintain the assets of the organization using a specific tool or tools to manage the same unlike traditional methods of tracking.

The operations using technical aspects may benefit from a computerized maintenance management system (CMMS). These automation software designed for managing and maintaining accommodate scheduling, management, and reporting activities, along with handling workflows, resourcing and routing, operating and repair guidance, and reporting and auditing.

However, asset management for big businesses or organizations is challenging, but that can be managed using some of the fixed asset management software available in the market, which provides a central platform for managing all fixed assets. It combines asset data from across the asset lifecycle right from acquisition, operations, maintenance, depreciation to renewal or replacement. These features and workflows help the organization to optimize management tasks and reduce downtime. It provides a better enterprise view and understanding of safety and environmental controls to confront any issues and risks.

» What are the features of Fixed Asset Management Software?

Below mentioned are some of the Features of a Fixed Asset Management Software:

› Easy Tracking & Monitoring: It seems complex to maintain and manage fixed assets, especially for huge business or bigger organizations or companies with large inventories. Therefore the usage of fixed asset management tools or software is very ideal and recommended to the database where you could easily track the information with no risk of it getting lost or misplaced. This is the main purpose of an asset management system.

› Improved Financial efficiency: Fixed asset management improves the financial efficiency and strength in an organization to manage its assets avoiding unnecessary expenditures.

› Transparency in Data: Fixed asset management software provides transparency in data such as check-in and check-out details, the due date of the return of assets, maintenance schedules, depreciation, audit history, etc.

› Easy Calculation & Compliance: With asset tracking software, it’s easy to calculate and check the regulatory compliance and tax code to minimize insurance and tax-related expenditures. Asset software support tax form, track asset location, planning of asset retirement.

› Location Tracking: Asset tracking software features like location tracking, work order processing, and audit trails offer reliability towards fixed assets.

› Auto generation of Asset Codes: Asset tracking software automatically generates unique asset codes for each asset, which is very helpful to scan information & update asset information from your phone using Barcodes or QR codes.

fixed assets software for small business

Wondering if you’re managing your assets in the most efficient way possible? 

From paying more on taxes for assets that no longer exist to managing accurate depreciation, businesses that track assets through manual processes and spreadsheets leave too much room for inefficiency and manual data entry errors.

In this guide, we’ll introduce you to 4 of the best fixed assets software to help you streamline the process of tracking each asset from acquisition through disposal. 

What is Fixed Assets Software?

A fixed asset management software system helps a business manage fixed assets through all the vital stages of a fixed assets life cycle from acquisition to disposal. Some organizations hang on to spreadsheets thinking it’s enough, but they don’t realize all of the missed opportunities that come from modern software. 

What Are the Benefits of Fixed Asset Management Software?

Common benefits that come with leveraging fixed asset management software include:

Simplify Accounting Management

Fixed asset management software helps those in charge of accounting tasks accurately record assets and track depreciation. The right fixed asset management software also automates depreciation calculations throughout the entire asset lifecycle, and in some cases, also automates the creation of asset-related journal entries. Fixed assets software commonly provides robust custom reports and financial data surrounding your assets to help you make sound business decisions.

4 Best Fixed Assets Software for Accounting Management

Some fixed assets software help businesses with accurate accounting more than others. Either the software comes built-in with accounting capabilities or integrates with accounting software to provide you with a smooth experience. Here are our top picks to help you track assets for easier accounting.

Asset Panda is a popular cloud-based system with many positive user reviews. Although it’s not one of the more intuitive software, the steep learning curve is slightly offset by superb customer support. 

A highlight feature of Asset Panda is its strong customization capability, which allows you to tailor the software to speak your business’s language. This feature makes sorting and finding assets easier for everyone. 

Asset Panda allows you to manage asset depreciation but only offers the common straight-line depreciation method. The software integrates with accounting and enterprise resource planning systems as well, mostly through Zapier. 

ASAP Systems is both an inventory and asset tracking cloud-based solution known for its superior integration abilities and ease of use. Among the many integration capabilities, Barcloud integrates with FreshBooks via Zapier. This Zapier connection allows FreshBooks users to better track and manage assets. This integration also gives users the ability to automate many accounting tasks such as creating automatic expenses and invoices, to name a few. 

Barcloud allows customizable fields, which makes it easy to train other staff. As a cloud-based solution, you can also access the availability of specific assets from anywhere in the world.

Barcloud includes an impressive 100+ base features and 100+ advanced features. Some of its primary features include: 

You’ll need to contact ASAP systems for a price quote because pricing is no longer listed on the website, but historically the prices have been the following:

EZOfficeInventory is known for its simple interface. It offers most of the basic features you’d expect from a fixed assets tracker including comprehensive maintenance management and thorough reporting. Many users enjoy the ability to customize and print barcodes and QR codes with the app. It’s also RFID-friendly.

Multiple quantities of the same inventory only count as one item towards the item limit. For example, 50 shirts and 30 pants only count as 2 items altogether. However, EZOfficeInventory counts each asset separately. 

Asset Cloud by Wasp

Asset Cloud by Wasp prides itself on being a completely unified platform. If you prefer to get everything you’d possibly need from one single vendor, Asset Cloud would be a competitive option. The caveat is that to get a complete unified platform, you’d have to purchase many of their products separately. 

If you prefer on-premise solutions, they also offer some solutions. They offer various barcode scanners, barcode printers, mobile computers, and a variety of asset tags and labels to fit your organization’s unique needs. 

Asset Cloud offers an impressive 5 customizable methods of depreciation. 

Basic Features to Expect in Fixed Assets Software

Each fixed asset management software listed has its strengths and weaknesses, but there are some basic features you can expect from most fixed assets software. Although some of these features are more robust in one software compared to another, you can depend on the software you choose the have most of the following key features:  

Streamline the Fixed Asset Life Cycle 

The best fixed asset management software will have the ability to simplify accounting tasks for your business, improve productivity in the workplace, and save you from various costs associated with ghost assets and duplicate assets. 

Managing fixed assets using a manual method involves sorting through high volumes of scattered data leaving less time for more lucrative business activities. Additionally, spreadsheets allow a lot of room for manual error and inefficiencies.

Interested in software to help with inventory tracking too? All asset management software on our list offers some type of inventory tracking capabilities as well, although it may be limited. In some cases, they offer it as an entirely separate solution.

For additional options, check out our list of the 8 best inventory management software.

benefits of it asset management software

Imagine trying to secure your home, but you had no idea how many doors or entry ways you have. Or perhaps you’re trying to insure your property, but you have no idea what’s on the property itself. In both instances, you’re trying to protect something, but you have no sense of what you’re protecting.

When it comes to IT, the same problem exists. You want to secure all of your company’s assets, but you don’t know what you have to begin with. 

As companies grow and constantly add new software services, databases, apps, programs, and so on, it stands to reason that things can get unorganized. And that makes it pretty impossible to secure much of anything.

That’s where IT Asset Management comes in: this cybersecurity-as-a-service solution is the first step for most businesses when it comes to better security. 

What is IT Asset Management?

With ITAM, you’re identifying any and all IT assets you have. Having that inventory is invaluable, because now you know exactly what you need to protect.

7 Benefits of IT Asset Management (ITAM) You Didn’t Know About

ITAM does far more than simply identify your assets. Here are 7 benefits of IT Asset Management you probably didn’t know about.

1. See your assets in real-time.

These days, businesses move fast. With everything online or in the cloud, it’s easy for assets to get jumbled, confused, and even forgotten about.

With IT Asset Management, your team can see your assets in real-time. That means no waiting and no reinventing the wheel once your initial inventory has been completed. 

2. Eliminate paperwork.

Most ITAM services will track assets in the cloud, so there’s no old hard copies floating around. (Just think: how often do spreadsheets and documents get lost?)

By tracking your assets in real-time on the cloud, you’ll eliminate a need for all those pesky documents.

3. Get rid of assets you aren’t using.

With so many employees working remotely, it’s more challenging than ever to keep track of all of your assets. But this is where ITAM can really help.

Using asset management, you’ll be able to track how your assets are being used, how many users are utilizing them, and how often. That way, you can finally see which assets are worth keeping and which can be streamlined or removed altogether.

4. Reduce asset costs.

Not only will your company save by removing underutilized assets, but you’ll also save in other ways by using IT Asset Management.

For instance, some of your employees may need more high level (read: more expensive) licenses, while others need basic licenses. The same applies for user access levels: some need basic, while others need full access.

In short, ITAM will help your organization better plan for its financial future.

5. Plan and improve the need for future assets.

Along the same lines, it’s uncanny how often a department purchases a new asset when another department is already using the same one. 

Communication within your organization may not be as strong as you hope when it comes to talking about IT assets, so that’s where ITAM can help the conversation.

IT Asset Management helps your entire organization see exactly what assets you have, so you can make better decisions about what you need going forward.

6. Be compliant. 

Compliance and policy management is a challenge for many companies; but IT asset management can help here too.

Supporting organizations with software license compliance is both effortless and worthwhile with ITAM. In this way, you’ll be rest assured that the terms of your software contract aren’t being violated (against the terms of your agreement, using too many users, etc.).

IT Asset Management can also help when it comes to regulatory compliance. Knowing all the assets you have will undoubtedly help maintain your company’s compliance.

7. Gain visibility and accuracy.

Perhaps the most important benefit of IT Asset Management is its ability to give your team visibility to the assets you have. 

Again, this is crucial for your cybersecurity efforts, since seeing all of your assets gives you the ability to protect and secure them. Visibility and accuracy alone are worth investing in ITAM.

IT Asset Management is just the start of a proactive, continuous cybersecurity structure for your business. By leveraging the power of ITAM, you’ll gain these 7 benefits (plus some!)

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