How Can Managed IT Help with IT Asset Management? The Quick Take
Many IT managed service providers (MSPs) offer IT Asset Management services as a key part of their contracts. This allows businesses to take the daily tasks of IT inventory and management out of house, freeing up internal staff for more strategic tasks. In addition to the physical management of a company’s devices, IT Asset management involves:
- Proactive management of software licenses, so clients never pay for more than what they need
- Bulk discounts through an MSP’s key vendor relationships
- Management of employee onboarding and offboarding onto new machines and programs
- Troubleshooting, maintenance, patching, and monitoring of key software and hardware
- Proactive estimates and budget recommendations for new devices and software
- Compliance management, ensuring all programs and devices are in line with the company’s data handling and regulatory protocols
When comparing IT MSP providers, look for partners up to the strategic planning and deployment challenge of IT Asset management.
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If you’re thinking of hiring an IT MSP for your IT Asset management, you’re in good company. Approximately 88 percent of US companies are using an IT MSP for all or some of their IT needs, according to recent reporting in FORBES. Most estimates show the IT MSP market growing by a more than 10 percent, year over year, through 2030. This growth reflects the increasing reliance on managed service providers (MSPs) to handle complex IT tasks, including IT asset management, cybersecurity, and cloud services, as businesses seek to streamline operations and reduce costs.
If you’re on a journey to find the right IT partner for your asset management, there’s a lot to consider. First, let’s understand what IT Asset Management entails for most companies.
What Is IT Asset Management, and Why Do You Need It?
IT Asset Management (ITAM) is a systematic process for managing, maintaining, and optimizing all your company’s IT infrastructure and Information technology. These assets include hardware, software, and network components that help you run your business. The primary goals of ITAM are to maximize the value of these assets, ensure compliance with licensing agreements, and minimize risks associated with asset management.
A premium MSP can do more for you than just keep a spreadsheet of the assets you have. They can help you think strategically about your IT investments, eliminate waste, and optimize your productivity. By taking this function out of your internal IT department, you’ll often get a team of specialized experts providing your asset oversight—and providing high level insights on your IT Asset spend.
Key components of IT Asset Management include:
- Asset Inventory: Keeping a detailed and up-to-date record of all IT assets, including their location, status, and ownership.
- Lifecycle Management: Managing the entire lifecycle of IT assets from procurement, deployment, maintenance, and upgrades to eventual disposal.
- Compliance Management: Ensuring that all software and hardware assets comply with licensing agreements and regulatory requirements.
- Cost Management: Tracking and managing the costs associated with IT assets to optimize spending and improve return on investment (ROI).
- Risk Management: Identifying and mitigating risks related to IT assets, such as data breaches, hardware failures, and software vulnerabilities.
Effective ITAM helps organizations improve operational efficiency, reduce costs, and enhance security by providing a clear and comprehensive view of their IT infrastructure. By implementing robust ITAM best practices, businesses can ensure that their IT assets are used effectively and remain aligned with their strategic goals.
How Can Managed IT Help with IT Asset Management? Optimizing your IT Asset Inventory
Effective IT asset management starts with a comprehensive inventory, but it doesn’t stop there. The best MSPs have the right tools to help you think strategically about your IT spend and assets. This includes:
- Automated Asset Tracking: Managed IT services use advanced software to automatically track and update your asset inventory, ensuring you always have an accurate and up-to-date view of your IT landscape.
- Centralized Management: With a centralized system, you can easily monitor and manage all assets from a single dashboard, reducing the risk of lost or misplaced equipment.
- Lifecycle Management: Managed IT providers help you manage the entire lifecycle of your assets, from procurement to disposal, ensuring optimal performance and cost-efficiency.
- Onboarding and Offboarding: Streamline the process of onboarding new employees and offboarding departing ones. Managed IT services ensure that new employees have the necessary equipment and access from day one, while securely removing access and retrieving assets from those leaving the company.
How Can Managed IT Help with IT Asset Management? Asset Disposal and Recycling
With the ever-growing amount of e-waste in the world, it’s particularly important for companies to contract with an MSP that can help them handle the end of life for their devices responsibly. This includes, first and foremost, wiping all your data from the machines before disposal, so no critical information falls into the wrong hands. A good MSP should have a relationship with e-waste handlers who can break down the machines into their components and responsibly handle recycling. If your company is governed by industry-specific data handling regulations, make sure you are working with an MSP who understands the end-of-life disposal requirements in those regulations. This is crucial, as it will help your company avoid costly fines and preserve your business reputation.
How Can Managed IT Help with IT Asset Inventory? Creating Strategic Value
One of the key advantages of partnering with a managed IT service provider is the strategic expertise they bring to IT asset management. Here are some ways MSP consultants can add value:
Proactive License Management to Keep You Ahead of System Upgrades:
MSPs keep you ahead of your software license updates, ensuring compliance and avoiding costly penalties. They monitor license usage and provide timely alerts for renewals, helping you manage your software assets efficiently.
Hardware Optimization that Marries Form to Function:
MSPs assess your current hardware to ensure it is robust enough to support the latest versions of your software packages. They recommend upgrades or replacements as needed, ensuring your IT infrastructure remains up-to-date and capable of handling new demands.
Vendor Management for the Best Possible Prices and Service:
MSPs maintain relationships with hardware and software vendors, negotiating better deals and ensuring you get the best value for your investments. Not only can they negotiate the best bulk prices, but they have relationships with the L-3 Engineers and Escalation Desks at those vendors. If something goes wrong with your software or hardware, they can make sure it gets fixed, fast.
Scalability and Flexibility, So You Only Pay for What You Need:
As your business grows, your IT needs will evolve. MSPs provide scalable solutions that can adapt to your changing requirements, ensuring your IT asset management processes remain efficient and effective.
Secure Data Wiping to Ensure Your Data Doesn’t Get into the Wrong Hands:
Ensure all data is securely wiped from devices before disposal, protecting your sensitive information from potential breaches.
Environmentally Responsible and Regulation-Compliant Recycling:
Managed IT providers partner with certified recycling companies to ensure your old equipment is disposed of in an environmentally friendly manner. They’ll also help you stay compliant with local and international regulations regarding electronic waste disposal, avoiding potential fines and legal issues.
How Do I Know If the IT MSP I’m Considering is Good at IT Asset Management?
Choosing the right Managed Service Provider (MSP) for IT asset management is crucial for ensuring your IT infrastructure is well-maintained, compliant, and cost-effective. Here are some key questions to ask, along with detailed explanations of what to look for in their responses:
Questions to Ask Your MSP About IT Asset Management
1. What tools and technologies do you use for IT asset management?
Ensure they use advanced, automated tools for tracking and managing IT assets, such as asset inventory systems, lifecycle management software, and centralized management platforms. The right tools can significantly enhance accuracy, efficiency, and transparency in managing IT assets, reducing the risk of errors and improving overall management.
2. How do you handle software license management and compliance?
Ask about their processes for tracking software licenses, ensuring compliance, and managing renewals. Look for automated systems that provide alerts for upcoming renewals and compliance checks. Proper license management helps avoid costly penalties and ensures that your software usage is always compliant with vendor agreements.
3. What is your approach to hardware lifecycle management?
Understand how they manage the entire lifecycle of hardware assets, from procurement to disposal. Ask about their strategies for maintaining and upgrading hardware to support the latest software. Effective lifecycle management ensures that your hardware remains reliable and capable of supporting your business needs, reducing downtime and maintenance costs.
4. How do you manage the onboarding and offboarding of employees?
Ensure they have a streamlined process for provisioning and de-provisioning IT assets for new and departing employees, including secure data wiping and asset retrieval. Efficient onboarding and offboarding processes help maintain security and ensure that employees have the necessary tools to be productive from day one.
5. What are your procedures for IT asset disposal and recycling?
Verify that they follow environmentally friendly practices and comply with regulations for the secure disposal and recycling of IT assets. Ask about their partnerships with certified recycling companies. Proper disposal and recycling protect your data and the environment, ensuring compliance with legal requirements and corporate social responsibility standards.
6. How do you ensure data security during the disposal of IT assets?
Ask about their methods for securely wiping data from devices before disposal, such as using certified data destruction techniques and providing certificates of destruction. Secure data wiping prevents sensitive information from falling into the wrong hands, protecting your business from potential data breaches.
7. Can you describe your vendor management capabilities?
Understand how they manage relationships with hardware and software vendors to negotiate better deals and ensure you get the best value for your investments. Ask about their experience in handling vendor contracts and renewals. Effective vendor management can lead to cost savings and improved service levels, ensuring you get the most out of your IT investments.
8. What kind of reporting and transparency do you provide?
Ensure they offer clear and transparent reporting on the status of your IT assets, including performance metrics, compliance status, and detailed inventory reports. Transparent reporting helps you stay informed about your IT assets, making it easier to make strategic decisions and identify areas for improvement.
Interested in How Managed IT Services Can Help with IT Asset Management? Integris Can Help.
As one of the fastest growing MSPs in the nation, we help more than 1000 US-based clients with their IT Asset management. We’d love to talk to you about yours! Contact us today for a free consultation.
