Monday, 9 February 2015

Covering your Assets – How well do you manage them?

In tough economic climates companies are looking for ways to streamline their processes as well as reducing overhead costs. One area for consideration should be (if it is not already) Asset Management. In many of my blog posts I discuss the importance of reporting and what we currently know about how we providing service. We should also know what tools are at our disposal to be able to do that.

The overall goal of asset management whether it be hardware, software or something other is to control the assets in its umbrella throughout their lifespan. Simply put, we know who in our business is using what and the cost associated with using that asset.

Some might suggest that everyone tracks their assets to some degree or another; however are they tracking them throughout their life span. Think about your organization and answer this question, “From the time an asset is requested until it is retired is there someone or something that is managing each component of its life?” If your answer to this question is “no”, then you may need to consider what the cost of not having a more formalized asset management process might be.

There could be a cost with regards to compliance of your software assets in some cases. You may have more people using your software (consumption of licenses) then licenses which are available (already paid for). This can be a costly lesson in asset management when annual reviews find that we are not license compliant and additional costs are incurred.

Another cost which can be associated to assets is regarding the actual need for the asset in question. Not all job functions may require the same software titles, much like they may not all require the same devices. What can happen is that in an onboarding situation we suggest that we mirror person x for assets when in reality the new person being on-boarded does not need these things, and in some cases neither does their predecessor. The caution here is despite having an existing rule that requires a manager’s approval for a device or software; this might not be enough review. Every organization is different in your organization you may not have a chargeback or some form of checks and balances in place to monitor cost until an annual review. We may be deploying tablets and software to people who really don’t need it at a cost which our business ultimately does not want.

Asset management is a really big topic and I have only really scraped the surface here. Do some checking in your organization and see where some review may need to take place. A small improvement can have a lasting impact on the bottom line for your business.

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