IT asset management process best practices is all about maintaining the asset for a longer life span. It can either be the system, software or hardware. Many talk about the software lifecycle management saving on money but less people mention on the hardware lifecycle management. It saves on money as well.

Hardware asset management is the management of the physical components, this include desktops and laptops from the beginning to the final stage where the hardware is being disposed. The reason it needs to be managed is so that you can efficiently utilize the asset.

Hardware assets are different from software asset. How you treat or approach the hardware asset is different from software asset. The main stages of the hardware lifecycle are hardware request, procurement, installation of company software, deployment, use, storage, end of warranty or maintenance, retirement and disposal.

Each of these stages face potential risk and one should be ready to encounter any risks. The failure of a hardware can lead to a stop in the business. Hence it is very important to analyze every stage carefully.

For hardware asset management to work efficiently, it needs software asset management. Every software that a business need to install majorly affects the hardware. And the hardware needs to be address as well.

Life cycle management for your hardware, is very important.

Here are the main benefits of using hardware lifecycle managements:

It also enable one to able to cut down the cost. Overestimating the demands in your business can be a major mistake. You may end up having unnecessary assets which may lead to misuse of money. Thanks to the inventory, one can be able to have accurate data that will help in the decision making of whether buying the assets or not.

It also enable one to budget. When one is able to have accurate and precise data they can calculate on the expense which may be incurred. This way you are able to save up on money. Keeping track on record can also give an estimate on the money to be used annually hence can predict and budget on the money to be used next year.

It helps in avoiding lawsuits. On disposal, one need to wipe every data. In case one find data on the hardware it can be fined large amount of money. Ensure the data has been removed well before disposal. We also know if the information is on the wrong hands one may face challenges like business downfall.

It saves on time. This is because the hardware asset management speeds up the service level agreement, the hardware management becomes smoother. It also reduces the chances of one having a downtime experience.

A TraceTM has an inventory on the staff member who are using the asset and at what time. This increase security. This is because one can easily trace the asset’s location. You are able to monitor your hardware inventory, this is because it is compatible with most IT assets including the mobile phones, printers, and routers.