IT Asset Management

Benefits of Integrating Your ITAM Repository With Your Accounting System

Several years ago, trying to integrate your IT Asset Management (ITAM) repository with your accounting system proved to be a cumbersome task, and required hours of development work. Now most ITAM and accounting systems include open APIs that allow seamless integrations between one another. This type of technology allows IT Asset Management and Finance departments to automatically share data with each other, therefore providing a smoother and unified working relationship.

Integrating your IT Asset Management repository with your organization’s accounting system can ensure critical information is always available in a single view.

Why Would You Want To Integrate Both Systems?

Let’s take the IT Asset Disposition (ITAD) process for example, an IT Asset Manager could be disposing 20 broken printers. When the printers are disposed of, the asset records in the asset repository are updated to reflect their new disposed status. Without an integration, the finance department may not be aware of the disposal, or what assets were disposed. Having an integration between your asset repository and accounting system ensures that both applications are aligned and contain the same information (where applicable).

Having stale and/or incorrect data in either systems can be problematic and costly, especially when physical audits occur. When audits are performed, incorrect information on the whereabouts or status of an asset can cause issues which may reflect poorly on an organisation.

Below are examples of where integrating financial information into your asset repository can benefit your ITAM function:

  • Enhanced Visibility of Incoming Purchase Orders (PO) – Having direct visibility into what purchase orders are coming can help prepare your ITAM teams’ workload. By integrating your asset repository with your accounting system, IT Asset Managers are aware of what assets will be arriving and when. This enables your ITAM function to be proactive, rather than reactive.
  • Smoother Asset Transfer Process – When assets move between different users and departments, the accounting system can automatically transfer assets between different cost centers. This ensures only the right departments are being charged for the assets they own.
  • Shared Vendor Performance Data – By incorporating a vendor scorecard into your ITAM system, vendor performance feedback can easily be shared with your finance and procurement team. For example, when newly purchased assets arrive damaged, or when assets are delivered late, this type of information can be shared with the appropriate teams in finance, and can be used during future purchasing decisions.
  • Improved Visibility of Assets – Integrating your asset repository with your accounting system can provide visibility into assets that you previously didn’t know about.
  • Seamless Disposal Process – When assets are disposed of, your accounting system can be notified to write off fixed assets in real-time.
  • Stronger IT & Financial Governance – By integrating IT Asset & Financial systems, organisations can benefit from accurate data, and aligned processes. By sharing serial number, asset tag, and location data, your finance team will have better visibility over their fixed assets.

Since IT Asset Management and Finance work closely together throughout the lifecycle of an asset, integrating both systems will ensure that both departments are always on the same page when it comes to the management of all IT investments. Creating such an integration is a key success factor when building a successful IT Asset Management practice.

By Laurence Tindall, ago

The Art of Asset Tagging

What is an Asset Tag?

An Asset Tag is an alphanumeric barcoded label that is applied to hardware assets for the purpose of tracking and identification. Asset tags typically include 1D or 2D barcodes, and usually contain the name or logo of the business. Asset tags assist with the scanning and reconciliation of hardware assets, and help speed up entry of data.

Implementing Asset Tags

Imagine trying to inventory a room full of hundreds if not thousands of assets. Without asset tags, the process would be manual and painstaking. You would have to manually read each serial number off each device and then type it into your repository system to pull up the record. With asset tags, you can enter a room, and easily start scanning assets with a barcode scanner.

Asset tags are extremely useful for businesses because they make the logging of asset movements and changes easier. For example in a Data Center, servers are frequently transferred. Asset tags allow IT Engineers to easily scan the device into the repository, and change the location and/or status in real-time.

Benefits of using asset tags

The following are just a few benefits of using asset tags in an Asset Management program:

  • Deters people from stealing assets
  • Aligns the organization with industry standards and audit requirements
  • Assigns a unique ID to each asset
  • Prevents data entry errors
  • Quicker asset tracking and inventorying
  • Allows people to easily identify if it’s a company owned asset

What type of asset tag is best for your organization?

Depending on the industry type of your organization, different types of asset tags are best suited more than others. For example if your assets are situated in hot conditions, consider purchasing aluminum asset tags as these are heat resistant and rigid. Whereas if your assets are located in cool conditions and don’t move around much, then regular foil or polyester asset tags will work just fine.

By Laurence Tindall, ago

Warranties, and Why They Are Important!

A Warranty is a contract agreement between a manufacturer, and an organization that promises the repair or replacement of an asset when it becomes damaged. Warranties are typically issued free of charge for a set period of time when an asset is purchased new from a manufacturer.

Warranties usually cover:
  • Problems not caused by the owner
  • Defective software
  • Damaged hardware due to normal wear and tear
Warranties usually don’t cover:
  • Replacement of lost or stolen assets
  • Data recovery
  • Damage directly caused by the owner

In IT Asset Management, warranties are extremely crucial as they cover the support needed to fix assets when they face unexpected issues. The management and tracking of all warranties is a key factor in successfully implementing and managing an IT Asset Management program. With the use of warranties, the IT Help Desk can outsource most hardware issues back to the manufacturer. This reduces the overall IT spend, and allows organizations to re-allocate resources to other issues.

Benefits of warranties:
  • Reduced IT maintenance support costs
  • Peace of mind for an organization
  • No unexpected repair costs
  • Reduced asset downtime
  • Reduced Total Cost of Ownership (TCO)


In IT Asset Management, it’s important that warranties are logged in the asset repository when assets are procured and received. This ensures that the IT Department are aware of any warranty support available.

Depending on the manufacturer, some issue warranties digitally, and others issue physical warranty cards. If you receive a warranty card for an asset, ensure it is scanned and stored in the asset repository, this will verify the warranties validity, even if the warranty card is lost or stolen.

Warranty cards usually include the following attributes:
  • Warranty Start Date
  • Warranty Duration
  • Serial Number
  • Part Number
  • Manufacturer Name


Sometimes, warranties can be voided if unauthorized repair work is carried out on an asset. Depending on the type of device, some assets include a warranty label that is applied to the edge of an asset’s chassis, if the asset has been dismantled, and the label is damaged, then any associated warranties are usually voided.

The warranty void label is used to indicate to a manufacturer that a device has been opened and possibly tampered with. This safeguards manufacturers from issuing support to organizations who may have caused damage themselves.

The terms and conditions of warranties are also very important to pay attention to. Depending on the type of warranty supplied, some manufacturers place strict terms that specify when and how an asset can be repaired whilst under warranty. For example, it is very common that laptop and computer warranties are only valid within the country of purchase, meaning if a laptop was purchased in India, but later transferred to the United States, the laptop most likely won’t be supported in the United States.

By Laurence Tindall, ago

5 Top Benefits of an Asset Management Program in the Workplace

Since working in the Asset Management field, I thought I would write a post highlighting the top benefits I have encountered around the implementation of a successful Asset Management program. Generally people outside of IT view Asset Management as a “Stacking boxes and tagging assets” function, but Asset Management is much more complex and beneficial than this misconception.

1. Clear Visibility

Running a successful Asset Management program ensures clear visibility across all business units, whether it’s finance, security, help desk or PMO. Through the use of an updated and organized Asset Management function and repository, stakeholders are able to make justifiable, and accurate business decisions on the go without the use of using rough estimates, or outdated purchase records.

Having accurate asset data allows business units to easily forecast asset refreshes, without the risk of under/over purchasing assets. When over purchasing occurs, businesses suffer as financial depreciation effects the book value of their in-stock assets, and storage expenses rise.

2. Cost Savings

Cost savings play an important role in any Asset Management program. Imagine if your business owned several hundred servers spread over 100+ global locations. Without the use of an Asset Management program different business units and departments may order new servers when a demand arises. With clear inventory data, IT managers are able to easily track down and locate available equipment globally and re-distribute when needed. If Asset Management wasn’t in place, stakeholders would purchase more equipment with little knowledge in knowing what the business already owns and is available.

Re-use is also a popular and attractive subject in Asset Management. Through the use of asset re-use, businesses are able to easily save large amounts of money through asset re-deployment and recycling. Imagine if a business was disposing of 100 outdated computers, the power supplies and disc drives could be removed and transferred to an IT stockroom. Through the use of recycling, departments can save money on finance and operational expense (OPEX).

Another great example of cost savings associated with Asset Management is redeployment. Imagine if an IT department in a large enterprise organization redeployed used Laptops from the IT stockroom to different users every week for one year. Let’s say the Laptop is worth $1078 (new), multiply this figure by 52 weeks, your business has managed to save an astonishing amount of $56,056. This figure may not seem a lot to most large businesses, but if you take into account the re-use of Software Licenses, Servers, Networking Infrastructure Equipment, the cost savings skyrocket.Increased.

3. Productivity

When an Asset Management program is in full operation business users and departments will begin to reap the benefits. A good example of a department who will have more time to focus on their service is the IT department. With an accurate and accountable asset management system in place, IT engineers will be able to spend more and more time with users fixing help desk issues and solving the real issues at hand.

With a clear visibility on asset stock levels and asset location data, decisions can be made instantly, with stronger confidence in purchasing decisions. Many IT departments will spend a good chunk of time daily figuring out stock levels and managing demand requests.

4. Positive Audits

One of the main worries of organizations are when audits occur. With a successful Asset Management program businesses can be aware of any internal issues ahead of time and respond to those issues before auditors begin their work. One of the most common asset audit issues that most businesses occur is incorrect asset location information. Incorrect asset data shows auditors that a business has process issues and poor record keeping. With a successful Asset Management function, executives and managers will have the confidence that all asset information matches up exactly with their corresponding repository data.

In some cases businesses can be fined large amounts of money, and are at risk of loosing ISO certifications if records are not kept up to date.

Software Asset Management compliance is also a subject many businesses don’t focus much attention on and leave it in the dark. Software Asset Management (SAM) can cause big headaches and be very costly when large software companies audit your software installation count and compare them to the software agreements in place. If a business has breached a software installation count from what was agreed upon, then expect a large hefty fine. So, the good thing is that if your business is on top of Software Installations and your within your agreed install limits then the Asset Management program is a success.

5. Enhanced Security

With an accurate Asset Management repository, IT Security engineers can quickly determine physical locations of IT equipment in case of emergency’s, whether it be a network cyber attack or a fire. Imagine if a businesses network was under attack and the engineer needed to work on an asset physically, without the use of correct up to date information this may not be possible.

Another great benefit of Asset Management with regards to security is knowing who has what piece of equipment at any given time. For example, if a users laptop was stolen, just by knowing the model number and serial number the Asset Management department would be able to locate the record in the Asset Management system and notify the Security Department. This would then indicate to the Security Department if there was a breach of sensitive information depending on data backups that came from that laptop.

By Laurence Tindall, ago