Percent of IT hardware as part of the asset management process

In this current world, Information technology is crucial in an organization. This is because it helps in the delivery of business services that directly offer support and give strength to several procedures, mostly automated, so as to run a business. Implementation of automated inventory management is vital to digital technology asset management and helps deliver the best benefits.

However, the hardware isn’t inventoried, meaning that there are some that are untracked intentionally with 30% hardware that is not inventoried unintentionally tracked due to some organizations having their policies regarding the same.

Other agencies do not list particular hardware based on the type. More than half of the companies that have polices on hardware inventory report that they exceed the expectations included in their policies. Those that do inventory have been found to inventory 20 percent, which is smaller than what they indicate in their policies. Here are reasons why some IT hardware is listed.

  • Only 6% of hardware that is under warranty is inventoried and so the rest cannot
  • Six percent of on-site assets such as home-office location is inventoried, and other do not have a chance
  • Some hardware may not be inventoried because they are at risk of being stolen. Approximately, only 7% is not at risk of being stolen
  • The percentage of inventoried hardware funded or owned by a third party is just four percent making it hard for other organization to inventory.
  • Another reason is that 7% of the hardware does not contain sensitive information.
  • 32% of the hardware does not exceed a specified value
  • It is only specific type of hardware that is inventories

 

Why some companies do not meet inventory expectations

Some companies do not meet the inventory expectations because the assets that they move without any knowledge of IT get reported and therefore this makes it hard for them since they cannot purchase or move the assets.

IT hardware management processes need patience, and so the processes are cumbersome for others with other organizations fail to meet the inventory expectations due to negligence. Since the manual processes are cumbersome, they need a lot of time and people to work which other may fail to have. Other organizations which meet the inventory expectations choose to have dedicated asset managers.

Many organizations have been reported to be struggling with technology limitation, like tools as some of them are in the process of ramping up new solutions.

While the percentage of inventoried hardware is still slight, it is important to note that keeping an inventory of hardware saves the company more costs as it is easy for it to assess its business correctly, and thus the customers get excellent service. Even if other firms feel it is better when they manage their IT hardware as they get positive results, there is an urgent need for improving the policy in the industry. However, approximately 76% of IT hardware is inventoried as part of the asset management process with the remaining 25% using excel in tracking IT hardware.