When dealing with all the monitors, laptops, and peripherals your company has acquired over the years, it can be easy to lump all the value of your IT Asset Management (ITAM) program in to an IT corner. However, getting a good system in place—and investing in a partner to help you do that—can actually benefit your business in other ways, such as with finances, employee happiness, any CSR or ESG efforts, and a host of other areas of your business.
The cornerstone of IT for your business
To see the simple reason a good ITAM program can be pivotal for the success of any business, just try to think of an aspect of business that computers, laptops, smartphones, or servers aren’t tied to somehow. See what I mean? Almost nothing in business gets accomplished without the aid of an electronic device of some sort. This essentially makes your IT department the glue that holds your business together.
Of course, that’s just the direct impact IT makes. There are other indirect areas that IT can also affect. For instance, who (other than your tech department) goes into overdrive when there’s a cybersecurity concern, or when you need to upgrade software? The indirect departments of finance, security—even brand integrity and customer perception—are all affected by the technology your business uses. And, since IT Asset Management is the hands-on side of IT, it stands to reason that getting a better handle on ITAM will make your business more effective overall.
Fight being overwhelmed with a cross-company culture
This ubiquity of IT can easily overwhelm businesses. There is just so much to handle. But, as with anything big, breaking the management of IT Assets across a business down into smaller chunks can make this "elephant-in-the-room" easier to deal with. In fact, after "eating this elephant” for hundreds of businesses, we’ve discovered that an ideal ITAM program has weigh-in from seven key stakeholders. And when these departments communicate, incredible things can happen.
We’ll get to the magnificent seven in a moment. But first, it’s important to point out that for any asset management to be beneficial, it requires functionality. Often, businesses are so overwhelmed (or too busy doing their business) to take the time to make sure their ITAM program is actually working. Without a working ITAM program, no amount of cross-company buy-in will matter.
And, to be truly functioning, the basic ITAM program first needs to have a holistic view of the devices it manages. By that we mean seeing each device as more than just the immediate value the company uses it for. For instance, the laptop you hope to retire (because it’s a few years older than the latest model) is still a powerful device that could be put to use for something or someone else. By seeing the intrinsic value of your business’s assets as going beyond the walls of your business, you will handle the assets differently.
The seven key stakeholders of IT in any business
Whether or not these departments use technology, having a part to play in a holistic ITAM program will help make your program far more effective. The seven stakeholders are:
- IT operations
- Asset Management
IT ops and Asset Management are fairly obvious connections, as should be security. But many companies stop there. However, when you think about it, who gets involved when you need to buy new devices? Finance and procurement, at least, right? If they have an ear to what the ITAM program is doing, they might be able to lessen the cost or time spent looking for equipment. Especially when you have an ITAM partner with Microsoft Authorized Refurbisher (MAR) credentials.
Here’s where all this comes together, beautifully. When you work with an ITAM partner who can refurbish and resell your IT assets, you open the door to a whole new way to capture ROI on your devices. This, in turn, helps finance to pay for upgrades and procurement to find replacement devices. But there’s one more thing that really wraps all these departments into a nice package: sustainability.
Sustainable ITAM is the answer
You might have noticed with this blog that we lean into sustainability quite a bit. That’s because, when handled correctly, it really does answer a lot of different concerns. When it comes to these departments, for example, a sustainable mindset is what pushes to have devices refurbished rather than just recycled (if you’re curious as to why recycling is not as sustainable, read this post). It also opens the door to making donations of retired equipment for socially sustainability.
So, when treated with the right mindset—or handled by the right partner—your ITAM program can involve each of those seven stakeholders. So, do your business a favor and start getting these departments on the same page with the IT assets you own. It could be a huge benefit to more than just your bottom line.