MANAGING ASSETS BEFORE THE YEAR ENDS
When it comes to managing assets, end of year closing and documentation can be a trying time for many organizations. This time of year has a way of sneaking up on us, before you know it you’re pressed with managing assets before years’ end. IT Asset Management doesn’t have to be one of those headaches.
Asset management is a data-driven decision making process that takes into consideration both financial and technical issues, asset conditions and performance to find the best maintenance and improvement investment.
Solid asset management usually involves gathering a detailed inventory of an organization’s hardware and software and then using that information to make informed decisions about IT-related purchases and redistribution, avoiding unnecessary purchases, and make the bet use of current resources. When properly managed assets can limit waste, improve efficiency’s and stretch a budget into maintaining a healthy bottom line.
STEPS IN ASSET MANAGEMENT
Most successful IT asset management programs are invasive to the organization involving everyone at some level, such as end users, budget managers, IT service departments, and finance. This may not always be the case with smaller organizations as there are fewer employees to get involved, it usually falls on the responsibility of the business owner to play all roles.
While in the larger originations IT asset management generally uses automation, inventory or tagging systems, such as RFID tags and software designed to track the asset locations and automatically tag the inventory to be tied to current ownership and usage information. Full management of IT assets requires a database of multiple types of information that requires integration from various information sources and intergradation into IT Asset management systems. Both larger and smaller organizations need to track their assets and full management capabilities, integration with other systems such as supply chain, help desk, procurement, and human resources systems
Both types of organizations need to track IT assets for risk management, allocation of accurate resources or losses, and full accountability to locate all assets.
MANAGING HARDWARE ASSETS AND MANAGING SOFTWARE ASSETS
Hardware asset management entails the management of office equipment and the physical parts of computers and networks from purchase through disposal. Common business practices include request and approval, acquisition, life cycle management, redeployment, and disposal management. A key component is capturing the financial information about the hardware life cycle which helps the organization in making business decisions is based on measureable objectives.
Software asset management is a similar process, focusing on licensing, versioning, upgrades and the hardware in which it is installed.
ASSET MANAGERS HAVE BOTH A CORPORATE AND OPERATIONAL RESPONSIBILITY TO MANAGE END-OF-LIFE ASSETS
When the decision is made to remove IT assets from the organization, they often move through various processes to prepare them for recycling or disposal. Most often, these assets are handed over to a vendor, such with requirements of tracking data security, inventory controls, reporting and providing certificates and processing responsibility
The vendor should have secure procedures for tracking assets while in their possession. After disposing or e-recycling of the asset, the vendor should provide a certificate of destruction with all applicable serial numbers. Tracking assets that are offline should be approached with the same security as when those assets are online due to organizational liability pertaining to confidential and customer information.
About Southeastern Data
Since 1996, Southeastern Data has been a leader in the e-recycling business with locations in Florida, Georgia, North Carolina, Ohio, and Indiana. Headquartered in Orlando, Florida, the company’s services include, computer and electronics recycling, logistics management, data security, mobile hard-drive shredding, asset management, and remarketing pre-owned computers and electronics for businesses, government, military, schools and universities, healthcare, and manufacturing facilities. The ISO 14001-certified company is a Florida and Ohio Environmental Protection Agency (EPA)-approved recycler and Authorized Microsoft Refurbisher. It is compliant with the HIPAA), GRAMS-LECCY, Fairfax County Federation of Teachers (FCFT), Failure Free Operation (FFO), and follows the Department of Defense (DOD) and National Institute of Standards Technology (NIST) guidelines for data security. Learn more at https://SoutheasternData.com