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Asset Management Workflow Problems and Solutions

IT asset management is an area of business operation that allows you to manage the devices and other technological elements of your business. This might not seem all that important, but a poor IT asset workflow can lead to lag times and inefficiency in your operations. Failure to address this can have an effect on your bottom line.

This is a common area that people fail to give proper emphasis to. Just think about the typical office space. It has tons of computers, computer accessories, printers, copiers, phones, speakers, projection equipment, and so much more. Failure to properly manage all these assets can lead to bottlenecks and lost time.

Let’s take a look at some of the most common problems people have with their IT asset management and how they can be fixed.

Poor Early Planning

Especially when it comes to new and smaller businesses, IT asset management is something that often falls by the wayside. Even if you have just a few employees, this is a mistake. Chances are, you are looking at ways to manage workflows in other areas of your business and IT asset management should be no different.

You have to consider that your company is going to grow and therefore, start your management from the very beginning to ensure you streamline your processes. This will help reduce chances of repeated expenses and other issues that arise when there isn’t a good accounting for all the devices and other technological assets of a company.

Workflow management software, such as the low-code solution offered by Comindware, allow you to easily create solid IT asset workflows that can grow with your business.

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Poor Asset Management

It is easy to see how money could be wasted on duplicate technology if you don’t have a good accounting for the devices and technology your business has at its disposal. Poor documentation or failure to properly document assets is just as bad as having no asset management plan at all.

To add to all this chaos, many of our devices come with warranties or may be repaired, rather than replaced. You miss many money-saving opportunities by failing to document the various warranty plans your technology falls under. Documenting what can be repaired as opposed to replaced can also help save you money and ensure proper working technology.

The key to fixing this failure is detailed and solid documentation. And this isn’t a one-time process. Each and every time you add a new technology asset to your business, you will need to document it. You will need to denote whether it is under warranty and if and where replacement parts can be obtained.

No Paper Trail for Audits

Failure to have an IT asset management plan, or having a subpar plan can cause problems in the event you need to audit any area of your business operations. During an audit, expenses and assets may be an important part of the paper trail.

If there is no paper trail, or it is a trail filled with holes, it is difficult to audit a situation to determine what went wrong or how a process may be improved. Auditing can be an important part of business operations and may be required by the state or federal government.

If you find yourself in the middle of an audit without a proper IT asset management plan, you will regret it. Using things like low-code workflow software allows you to create workable solutions. With this software, you can create IT asset management plans that are detailed and regularly updated.

This will ensure that whenever you or someone else needs to perform an audit, the information needed will be current and easily accessible.

Asset management Comindware Tracker makes it easy to build and automate any workflow, from simple approval to complicated asset management and audit workflow
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In Closing

No matter what business we are in or how small our company is, a solid asset management plan, whether it is for technology or other business resources, helps reduce wastage, redundancy, and makes it easier to perform an audit. It might not seem like we need to track our assets, especially if we are a small company, but this is a huge mistake. No matter the size of the company, a good asset management plan is imperative.

Workflow management software can simplify this process by giving you the tools you need to create a largely automated asset management plan. This can be a detailed plan that is regularly updated. It will include basic information, as well as information about warranties or repair information. This helps you improve efficiency, keep track of assets, and avoid pointless expenditures.

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Helena Haidu is an Online Marketing Manager at CMWlab. and a passionate advocate for empowering executive managers onward to workflow automation and running their businesses efficiently.

Posted on:  in Solutions