What is IT support?
Understanding IT inventory management
As a member of an IT service management (ITSM) team, your responsibilities seemingly never end. It’s your job to ensure that all systems are up to date and that no one experiences any issues with software or hardware. While updates and tech support are two of the main functions of IT teams, they’re also responsible for managing IT inventory.
IT inventory management is crucial because computers, servers, and networking equipment, as you know, can be expensive. Managing that inventory and finding the most effective way to utilize it can lead to cost savings, faster troubleshooting, and improved security and compliance.
If you’re not using IT inventory management software to streamline your processes, you’re missing out. Learn more about the benefits of IT inventory management and how you can find the best IT inventory management software for your business.
What is IT inventory management?
IT inventory management is the process of managing IT assets, including physical items such as computers, servers, printers, networking devices, software licenses, and other digital assets. IT inventory management aims to track these assets and use them as efficiently as possible.
The asset management life cycle plays a key role in IT inventory management. It has five stages: planning, acquisition, operation, maintenance, and disposal.
Let’s use a laptop as an example. Each employee needs a dedicated work laptop, so you should begin by determining the total number of laptops needed. Next, create a short list of vendors, negotiate prices, and purchase each laptop. Once you have purchased the laptops, train your staff and monitor compliance and asset performance. Asset management also involves regular maintenance, so it is essential to have a maintenance plan in place. At the end of the lifecycle, these laptops must be properly disposed of.
IT inventory management vs. IT asset management
If you’re new to IT inventory and asset management, you might be wondering how IT asset management is different from IT inventory management. Let’s take a closer look at the similarities and differences.
IT inventory management is the first step of the asset management process. IT inventory involves listing all the IT assets you currently have, including computers, servers, networking devices, software licenses, and cloud-based services. At this stage, you’re focusing more on creating a detailed list of the IT assets you have, even if they’re not currently in use.
IT asset management serves as a broader, second-stage of IT inventory management. Once you have a list of your IT inventory, you can use IT asset and inventory management strategies to optimize asset utilization. Let’s say you’re onboarding a new employee and need to set them up with a laptop that has all the necessary software installed. With IT asset management, you can get a quick overview of the unused software licenses you currently have so you can use those licenses instead of purchasing more.
In many ways, IT inventory and IT asset management are very similar. Both involve creating a list of your IT assets to ensure they’re accounted for and properly maintained. In many cases, the IT inventory management software you’re using will also include IT asset management features.
Asset tracking is one of the most important aspects of IT asset management. Asset management isn’t just about knowing how many laptops or software licenses you have. It involves having a detailed overview of when equipment was purchased, when it was last updated, and when it’s time to upgrade.
Benefits of IT inventory management
Whether you’re running a small business with a dozen employees or a massive marketing firm, IT inventory management has several benefits. Find out how IT inventory management can help you save money and make the most out of every asset.
Saves costs
IT inventory management is a great way to save your business money. When you have a detailed inventory of your IT assets, you can keep track of everything to minimize losses. Your IT inventory also includes a list of used and unused software licenses, which means you don’t have to buy additional licenses when you already have extras.
Additionally, automating IT inventory management allows your IT team to spend more time focusing on critical tasks. With automation, IT teams have more time to update laptops and servers, as well as respond to employee support tickets in a timely manner.
Improves asset utilization
Anyone with experience running a business knows how quickly small costs can add up. When you don’t have a detailed inventory of your IT assets, you risk making redundant purchases because you don’t know what you do and don’t need. For example, you may have unused software licenses that you can use instead of purchasing another bundle of licenses. Not only does this help eliminate redundant purchases, but it also ensures you’re getting the most value out of each asset.
Enhances security and compliance
Security and compliance are two of the biggest obstacles in IT operations. Inventory management supports IT security policies by helping you keep your machines up to date. A detailed maintenance plan helps you update your computers on a schedule to avoid potential vulnerabilities.
There are several regulations in place that IT inventory management can help you comply with. These include data regulations, cybersecurity breach requirements, and software licensing rules.
Faster troubleshooting
When you work in IT, incident management is a crucial responsibility. Employees who encounter problems with their laptops or specific software often turn to IT teams for resolution, but it’s not always easy to resolve these issues without all the necessary details. IT inventory management provides you with quick access to accurate information about your IT assets, which helps expedite the issue resolution process.
Quick resolutions are important for minimizing downtime, which can be expensive for your organization. Efficient asset tracking ensures you always have a clear picture of your assets and their utilization, leading to less downtime and increased cost savings.
Challenges in IT inventory management
While there are countless benefits of IT inventory management, there are also a number of challenges.
Data accuracy is crucial if you want to get the most out of your IT inventory management software. If the information you’re pulling up is outdated, it’s not going to be very helpful. Having a large number of various types of assets can also be challenging.
Integrating IT inventory management systems can be a lengthy process because you have to account for every asset. You also have to update your IT inventory and maintain assets like computers and servers regularly.
Must-have features of IT inventory management software
If you’re looking for the best IT inventory management software for your business, prioritize these key features:
- Real-time asset tracking and updates for the most current information.
- Detailed asset profiles to provide a clear picture of the state of assets.
- Automation capabilities to save time logging and tracking assets.
- Reporting and analytics to empower data-driven asset management and decision-making.
- Integrations with other software and cloud-based services.
Choose the right IT inventory management software for your business
Choosing the best IT inventory management software is essential, but the answer varies depending on your specific business needs. You should start by evaluating your business and IT department, using key factors such as business size, IT complexity, and budget to inform your decision.
Jira Service Management includes all the key features you need in IT inventory management software, and it’s designed to integrate seamlessly with other tools you use. You can manage assets in Jira Service Manager from a centralized location, providing quick access to the information you need. You can also try Jira for free to see if it’s right for you before making a purchase.
Best practices for successful IT inventory management
IT inventory management can benefit your business in several ways, but it’s important to make sure you’re doing it the right way.
Regular audits are a vital part of maintaining an up-to-date IT inventory. Check for outdated machines or assets that you may have forgotten to remove from your inventory on a regular basis.
Create clear policies and guidelines for adding new assets, maintaining and updating assets, and disposing of assets when they’re at the end of their lifecycle.
Ongoing training also plays a key role in maximizing the benefits of IT inventory management, so ensure that both new and existing IT team members receive regular training.
Enhance IT inventory management with Jira Service Management
If you’re not tracking your IT assets, you’re likely making redundant purchases and creating unnecessary obstacles. The Assets Data Manager in Jira Service Management makes it easy to manage and track IT assets, saving money and improving asset utilization.
Jira Service Management also simplifies asset and configuration management. Create object schemas and types to keep assets neatly organized, or import objects directly into Jira Service Management. With Jira Service Management, taking control of your assets is easier than ever.
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