IT Asset Management (ITAM) can be viewed as a necessary evil in most cases: “We have the technology… now we need to manage it.” But there is another viewpoint that could revolutionize how you handle the assets your company uses—or has retired from use. And it’s in that second option where the "Necessary Evil" becomes a business model in and of itself. Between employee purchase programs (EPPs) and reselling to the greater public, your business could be actually earning revenue from its IT assets.
Recapture the value from older technology
Businesses move at a break-neck pace and, when it comes to technology, that pace outstrips the individual consumer by a few years. What that means, then, is that your retired equipment left over from the last upgrade could be the dream laptop or tablet of the average consumer. Even more so as many companies are increasing the level of tech they need for their businesses. Now, they are shelving or even shredding devices loaded with faster processors and larger hard drives—enough to make most consumers’ heads spin.The only problem is, how do you connect the two for an optimized transaction?
Remember that Necessary Evil we mentioned earlier? It just so happens that managing the IT assets under your company’s watch can also be the solution to regaining lost revenue. A good ITAM program has the specs of every item it tracks in a database. And in using a sustainable ITAD (IT Asset Disposition) partner, you can trust that the best value is being achieved with your IT assets. This tracking allows you to see what assets you have in total and to see if reselling them is a worthwhile decision.
Of course, it’s worth saying that the sales you might have with your retired tech will never fully compensate for the ITAM program or partner you’re using. However, any value recovery you do see will increase the ROI of those benefits by reducing your net spend. Not only that, but it can even create discretionary income, in some cases. And, don’t forget, this is all on top of the massive value that comes with just managing your assets in the first case. Which is a perfect segue for our next point.
Managing IT assets impacts every corner of the business
In your own life, meeting with a financial advisor can be helpful for capturing your spend in a way you might not have thought about before. The same is true when you have a good ITAM program or ITAM partner in place. The awareness of what you’re doing with your capital—and the sinkhole that technology can often be for that capital—makes ITAM like a financial net for large corporations.
But the potential for benefit beyond just the management and highlighting of financial drain comes from an ITAM mindset that considers the end-of-life devices as a valuable part of your company’s cost stream. The secret to seeing this opportunity is having a sustainable mindset. Looking at things from the “waste side in” and staying open-minded to what value things actually have can add thousands of dollars back into your company.
Add to this revenue-producing insight the ability to refurbish devices, and you’ve got an ITAM partner that brings in top-dollar for its services. And those funds received can certainly help offset the cost of that partnership over time.