How often does your firm stop to count and evaluate its IT assets, such as hardware, software, peripherals, and other resources? More importantly, how often does your firm audit its spending on those assets? Many procurement and project managers would probably answer, “Not often enough.”
But many companies lack the necessary tools to monitor their current assets, the costs incurred, the length of time those assets are useful to the organization, and any profits made from the sale of those assets.
A recent TechRepublic article, “Asset management promises cost savings,” points out that companies can save as much as 30 percent annually on the costs of managing hardware and software in the first year of implementing an asset-management process. According to Patricia Adams, an analyst for business-technology advisor at Gartner, companies that use asset tracking and management methods can also expect annual savings of 5 to 10 percent from the second through the fifth year.
An asset-tracking solution makes information about your company’s IT assets readily accessible in a central repository, which allows that information to be shared among staff. TechRepublic’s asset-tracking spreadsheet, created in Microsoft Excel, does just that. Use it to measure the expenditures and life span of your equipment, then review it quarterly to determine which items were cost-effective. It will help you make informed purchasing decisions, thus saving money and improving productivity among your staff.