Ten reasons every company needs Hardware Asset Management
Leading asset management firm Capital share a list of how this vital business function can save you time and money when done correctly.
Published on 7th February 2023
Hardware Asset Management (HAM) can often be pushed to the side as people focus on the day-to-day needs of a business, but it’s a vital function that can save every company time and money when done correctly.
We’ve put together a list of all the reasons regular hardware asset management audits will benefit your business.
Better Control of IT Estate
Every company, no matter how big or small, will have a variety of IT equipment that are essential to maintaining outputs and keeping the business profitable. From computers, server towers, laptops, right down to accessories like cables, chargers, and keyboards, each piece of hardware needs to be tracked.
Running regular HAM audits means you’ll have a better awareness of what equipment you own and which one’s need to be retired, giving you more control over your IT assets.
You’ll Know Exactly Where All Your IT Assets Are
Once you’ve carried out an extensive HAM audit, you can create a hardware database which will mean it’s easy for people to see exactly where each piece of equipment is and who is using it. It will be a live database that gets updated regularly, allowing you to keep up to date on the location of all hardware, right down to individual cables.
Prevents Loss or Theft of Assets
A direct result of having a live hardware database, means equipment is less likely to be lost or stolen. In a hybrid and remote working environment, it’s more imperative than ever to keep on top of IT assets and their locations.
Saves Time For Reporting
Fairly often, it becomes necessary to report on aspects of hardware management, which can be a time-consuming process if you have completed no HAM. Trying to track down all the equipment, assess where it is in the hardware lifecycle, and generate those reports could take weeks if you haven’t been keeping up to date with everything. Having a live hardware database means the job will only take minutes to accurately report on equipment.
Manages Asset Lifecycle
IT hardware goes through a lifecycle, from purchasing it right through to finally disposing or retirement. Running regular HAM checks means you’ll keep on top of where the equipment currently is in its lifespan, and be able to conduct regular maintenance and IT support to keep it running at peak performance.
Saves The Company Money
HAM can save the company money in several ways, from lengthening the lifespan of hardware by carrying out regular support, right down to preventing the accidental purchase of duplicate equipment. If you carry out regular HAM audits, you’ll understand exactly where each piece of equipment is and who the end-user is so if it goes missing you’ll know who last had it. It’ll also keep you informed on exactly how much equipment you own so you don’t make unnecessary purchases. Finally, when you look after your hardware it’s less likely to go offline or break.
Increases Productivity and Agility
HAM audits mean employees can focus on their core responsibilities as you will keep up with constantly evolving technology and employees won’t need to engage in old inefficient processes. Asset problems will be caught before they happen, meaning your daily operations won’t be disrupted by systems going offline.
Allows For Better Budget Planning
When you understand exactly where your equipment is in the hardware asset lifecycle, that means you can plan and budget for purchasing new expensive equipment. You won’t be taken by surprise if ten devices go offline and cannot be fixed, having to buy new computers immediately. You’ll be able to shop around, take advantage of deals, and compare devices to ensure you get the right one.
Gets a Better Return on Investment (ROI)
Makes The IT Departments Job Easier
All the above reasons make the IT department’s job easier. Reporting becomes less cumbersome when all you need to do is access a database to pull all the relevant information. Assets can’t get lost, saving staff members the tiresome task of trying to find missing equipment.
If you hire a third-party company to complete your HAM audits, this will take an enormous job away from the IT department, allowing them to stay focused on supporting equipment to stay online. Bringing in a separate company can be a more cost-effective manner, as you’ll be hiring experts who know exactly what they’re doing.
