In this first post of a two-part series, I’m going to unpack some lesser-known truths of IT Asset Management as well as show how this discipline intersects with your company’s Environmental, Social, and Governance (ESG) metrics. So, sit back and enjoy the ride!
If you’ve been to this blog for any length of time, you’ll notice we toot the horn of IT Asset Management and Disposition (ITAM and ITAD, respectively) quite a bit. But maybe you aren’t sure why we think it’s so great. Here are the ways we see that IT assets, and dealing with them in a sustainable way, can be the most valuable hidden gem of your business.
The biggest part of your business is IT
You may not think it, but—regardless of what industry you’re in—you are actually in the IT business. Look at it this way: depending on the size of your company, the amount of energy, time, and money you spend on the technology your company uses probably outweighs the same percentage of resources spent doing almost anything else for your business.
Corporations today are first-and-foremost in the
business of managing their technology.
Being so dependent on technology can make challenges like data security and software upgrades overwhelming to the typical flow of any given day. We’ve all had our workday sabotaged by a patch or update before, so you understand how critical your IT is.
All of this importance placed in the IT assets used for business should be enough to have most business owners happily devoting more resources to ITAM. Sadly, however, the reality is that many businesses succumb to the “tyranny of the urgent” and push ITAM concerns back down the list of business as usual. I say “sadly” because of what these companies lose in doing so.
Wake up to your waste
The first and biggest reason to pay attention to your company’s ITAM program has to do with the waste IT assets produce. When you move into a new home, it doesn’t take long to learn the garbage pick-up schedule, right? That’s because, if you don’t, you know you’ll have a big problem all too soon.
But, for some reason, businesses typically don’t approach the procurement of IT assets the same way; knowing that waste is inevitable. It seems the disposition of end-of-life technology comes as an unwelcome surprise. All the more reason to button up what will happen to the most common elements in your business.
Another factor of every business having technology is that all your business’s departments rely on that tech. This is important for your ITAM program since making it sustainable can positively affect nearly everyone in your company (which we can see through the power it has over your business’s ESG metrics). Technology is a powerful thing—even when it has reached its end-of-life for your company.
The magic of sustainability
Seeing the intrinsic value of the assets your company owns brings to the table fodder for innovation and opportunity. For instance: knowing that your devices can be refurbished and resold might open your eyes to the potential revenue you could create by bringing refurbishments and reselling into the picture.
Take it the next level and choose only those top-notch devices that will last when you do eventually upgrade. Do your research; purchase devices that are likely to resell at a decent rate, and you’ve got a procurement strategy that justifies owning the best tech the market has to offer. Not to mention the environmental benefit that comes from reselling over recycling.
And the fact that there are still millions of people in the world who would love to get their hands on the kind of devices your business is retiring means there is the potential to recapture a considerable amount of revenue—assuming those devices are retired correctly.
With the role IT has to play in your company’s ability to perform, not investing in an ITAM program is sending your company to inevitable ruin. But in making your ITAM sustainable, you’re not only improving efficiency of your resources, but you’re adding brand value, additional revenue, and ESG metrics to an otherwise “necessary” program. When you take that route, it becomes more than just an ITAM program, it becomes a strategic business element.