Why invest in asset management?

At the core, the IT asset management process is the set of actions used to create a detailed inventory of the hardware, software, and network assets within a company. It is crucial in order to make informed business decisions regarding the IT environment which can ultimately lead to lower operational costs and more efficient operations across all departments.

Effective asset management incorporates cataloging and maintenance, replacement of old and inefficient items, and smart usage of current assets. These key focus points help businesses save money, increase productivity, and reduce wasted time and employee frustrations.

To illustrate, if specific kinds of hardware are nearing the end of their life cycle, it is imperative to replace them before they fail and cause major interruptions and downtime. Such a scenario would be costly and would considerably disrupt employee workflow but with a solid plan in place, this is not a likely outcome.

Although it can seem daunting, proper asset management is an attainable goal if the right tools are used. A dynamic management plan should be a top priority for businesses. After all, technology assets are costly and not knowing where expenses are going can make it nearly impossible to budget.

Furthermore, being familiar with an up to date inventory can save a business a lot of money by identifying items that need to be discarded due to maintenance costs or those being paid for but not put to good use. Research by Sassafras Software found that cataloging assets efficiently can save organizations an estimated $450,000 per year. The bigger the company is and the more assets it possesses, the trickier the process becomes without the right plan and management resources; but it remains vital for productivity and for budget health.

Finally, asset knowledge is essential in order to plan for the future. It is extremely useful as long as it manages to integrate decision making that is based on evidence backed by data. By keeping track of asset life cycles and performance, it is possible to anticipate purchases ahead of time and to find the products that are the best fit for a company or organization.

A powerful ally: ServiceNow Asset Management with INRY

When a business is ready to revolutionize and improve their asset management strategy, it is crucial to find the right technology for a smooth transition and for long term success. INRY has a proven track record of customer satisfaction and visible results. Here are some highlights:

Intuitive record management

ServiceNow offers easy-to-configure list views, sorting controls, and several features that simplify corporate record management and allow users to view the content easily. It also includes built in metrics and surveys that measure service levels and drive continual service improvement. These ensure all compliance requirements are met by conducting periodic testing.

ServiceNow has a powerful service catalog that registers assets smoothly by extracting the information directly from vendors. Asset offerings can be directly placed into the catalog without building complex web pages. The ServiceNow catalog tool can determine standard offerings for authorized users or groups. Finally, internal and recurring pricing supports different chargeback models.

ServiceNow also showcases a dynamic inventory management tool to control stockroom assets. It defines physical and logical stockroom hierarchies, and helps replenishment each asset with predefined threshold levels. This process is also automatable and can quickly pull stock from a parent stockroom or create instructions to buy more items. The ServiceNow solutions also offers a simple way to track total cost of ownership, and the ability to automate the contract approval and renewal process.

Consolidated source of data

ServiceNow uses a shared data set and thus reduces the number of systems used to track assets. It also eliminates the need to use antiquated methods, such as excel sheets, that trigger mistakes or that are not as secure. Less data sets also means less time spent finding and sorting the correct information. Consolidation saves time and money while reducing errors.

Secure and reliable data storage

ServiceNow allows businesses to provide access to asset data to the staff who need it at any time and from anywhere through a wifi connection. At the same time, data is kept secure and is subject to regular backups for peace of mind.

Streamlined implementation

Pulling and configuring data from other tracking sources is easy through ServiceNow’s straightforward process. Through the use of a plugin, ServiceNow allows users to locate and create records for hardware and software assets by probing network ranges.

INRY's approach to IT Asset Management

INRY’s approach to IT asset management through ServiceNow implementation has four focus areas:

Hardware Asset Management

Hardware Asset Management consists of managing the physical components of computers and related pieces of equipment through their life cycles.

INRY can also help to track and monitor hardware assets as well as their cost and use. In turn, this allows businesses to plan budgets and reduce costs as well as control inventory efficiently.

Software Asset Management

Software Asset Management encompasses the processes of managing and optimizing software of applications within an organization.

INRY also helps track purchases, assists in organizing service catalogs, records usage statistics, and helps deliver optimization. This helps businesses stay compliant and breeze through audits

Cross platform Asset Management

Cross Platform Asset Management involves processes that encompass different areas and disciplines, such as Hardware Asset Management, Software Asset Management, and Configuration Management.

INRY has predefined projects for Asset Management Policy, Vendor File Integration, Discovery Tool Strategy, Configuration Item and Asset Data Sync, New Hire Setup, and Capability Planning.

End user Asset Management

End User Management involves managing both the physical components and computer networks of end user computers through their lifecycle.

INRY supports End User Hardware, Reconciliation, Workstation Lifecycle Planning, Active Inventory, and End User Catalog Setup and Maintenance. These predefined projects allow businesses to plan budgets, and streamline end user processes.

If you would like to learn about additional ServiceNow Asset Management features or you are ready to adopt this powerful tool for superior asset management capabilities, please contact one of our experts.