Asset Intelligence and Management

Asset Intelligence and Management

EZOfficeInventory Blogs 4 It Asset Tracking Software Misconceptions

4 Common Misconceptions about IT Asset Tracking Software


The best thing about technology is that change remains a constant part of technology equation resulting in a lot of innovations coming up every now and then. As soon as something new comes up in the market, developers and engineers strive to make it even more efficient. IT asset tracking software provider also keeps its finger on the pulse of advancements to offer quality and efficient services and features. From flexibility and affordability to the accessibility and ease, asset tracking systems have loads to offer.

Online asset tracking and inventory management systems may not make your hair stand on end, but it is certainly a step forward from expensive, hard to understand and complicated traditional software systems. Using asset tracking tool, employees can easily work and access the same set of data. Even small businesses get to utilize the benefits of IT asset tracking tool which means not having a dedicated IT staff isn’t a problem anymore. Undoubtedly, the popularity and usefulness of IT asset tracking software will continue to rise in the data-hungry world of today. Unfortunately, this popularity has also brought about some misconceptions which need to be clarified.

Most IT departments need to understand the myths and truths around the digital asset management software. Let’s dispel some of the myths that have clouded the decisions of many enterprise organizations.

Misconception 1: IT asset tracking software only lets you track hardware and software

Hardware and software happen to be the two integral areas of the IT world. IT asset tracking solution surely helps you to track when a software or hardware was purchased, how long it has been used or whether there is a lease expiring on that component. Accordingly, the management then makes decisions whether to retire or replace a certain asset.

digital asset tracking solution

Apart from hardware and software, IT asset tracking software lets you track other things as well.

However, the truth is that IT asset tracking is not just limited to hardware and software. Apart from these two dominant kinds of IT assets, asset tracking solutions also help to track purchase orders, maintenance events, invoices for financial assets and even contracts. It is seen that a number of enterprises have more than thirty different software vendors while some have more than hundred which means managing contracts is a big hassle for the management. With the asset tracking solution, businesses will know exactly when to extend or renew a contract using the asset information.

Read more: Asset Tracking Software in an Ever-Changing Tech World

Misconception 2: Why use an IT asset tracking software as IT asset tracking only is a fairly quick and easy task!

The challenges of IT inventory management are for real and they don’t just disappear on their own. There is no magic trick for that. IT inventory management is, in fact, quiet complicated. The intensity of this complication depends on the quantity of IT assets you wish to manage. Even small businesses have quite a number of IT assets. Did you know 43% of the enterprises spend more than 16 hours per week and 13% spend more than 25 hours on IT solutions? There are a large number of custom fields related to each item and dozens of links between different IT assets.

For a second, just think about all the different software licenses your organization must keep track of. It could be a proprietary license or end-user license agreement. The management has to manage different licenses along with staying updated on it at all times to know when a license renewal is needed. Digital asset tracking software certainly eases up all such complicated processes. You get to keep a check on your software and hardware components of your computer network round the clock.

Read more: IT Asset Management Best Practices – It is all about Process

Misconception 3: IT asset tracking software is meant only for large enterprises

Yet another misconception about IT asset tracking solution is that it is meant mostly for large enterprises. Well, let’s bust this myth for you. When you start off with a small business, you work hard to make it grow. A growing business means new users every day along with new IT assets. And small businesses are mostly running tight on time and money which is why they are always worried about losing their IT assets as it adversely affects their ability to deliver. They surely can’t afford to replace big-ticket items as easily as large businesses.

Small businesses cannot afford to lose money beyond their set budget and the IT sector often loses money beyond their budget. When you don’t have the knowledge about what is present in the end-user system, you cannot plan your procurement budget. Instead, you might actually buy more stuff than what is required.

It is here that cloud-based asset tracking software comes in and acts as a savior by offering them a bigger picture of all their hardware and software assets. The asset tracking solution can incredibly help small businesses keep track of their existing inventory and help utilize them to their maximum as it keeps track of when a software or hardware was purchased to how long it has been used.

Read more: 5 Ways to Increase Asset Visibility using IT Asset Tracking System

Misconception 4: IT asset tracking software is difficult to setup and is very costly

cost effective it asset tracking software

It is commonly believed that IT asset tracking solution is difficult to set up along with being very costly. Let’s clear this myth with the fact that there is an increasing trend of web-based software these days which means you don’t have to install the application on your own server. Your service provider hosts the application and provides you access via a browser-based interface. Additionally, you can easily log into the application from any device with an active connection and browser allowing you to update all your asset information from anywhere at all. There is a wide variety of web-based asset tracking systems out there.

IT asset tracking solution is a cost-effective solution used by both small and large businesses.

Now let’s talk about the cost. Initially, companies used asset tracking technology to track their most expensive assets because it required considerable investment but not anymore. With recent advancements, asset tracking tools have become a lot more affordable even for small businesses with tight budgets. Now organizations are even tracking their less expensive resources and assets.

Barcode scanning is an important part of asset tracking and inventory systems. Barcode scanners come at a reasonable price but buying it for all the employees managing your assets can build up into a significant amount of money. Secondly, you need to connect it directly to a computer or keep it in close range. Fortunately, now you can use smartphones to scan both barcodes and QR codes which is not only cheap but also extremely workable. You can track your IT assets in real-time, know who they are with and in what condition. This will definitely let you make informed decisions about your assets.

What’s more to learn about IT asset tracking software?

EZOfficeInventory is a leading asset tracking software that organizations use around the world as it offers innovative features that leverage their assets for increased profits.

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