Technology – what comes to mind when you think about it?

Apps? CRMs?

Sure – but you even start on implementing tools and software development, including apps, you need to get your basic technology straight.

This checklist represents initially, a day of time, you can spread it over a week! You’ll discover things you didn’t know needed to be done, and you’ll be thankful you sorted it out, before disaster struck!

Admin and organisation, something we business owners often put on the backburner. We prefer sales and customer service.

However, proper management of hardware and software assets is crucial.

Mismanagement can lead to operational inefficiencies, increased costs, and potential security risks.

On the other hand, effective asset management can improve productivity, reduce costs, and mitigate risks.

With this in mind, below we’ve got 5 tips for you, to make the most of all these. In our experience, you’ll be thankful you spent time spent on business admin and we’re sure you discover useful things on the way – and you’ll be more productive!

1. Conduct regular inventories

Regularly cataloguing your hardware and software ensures you have an up-to-date record of all your IT assets. Knowing what you have, where it’s located, and its lifecycle stage aids in budgeting for replacements and ensuring that no assets are unaccounted for, which can sometimes be a sign of theft or misuse. Moreover, frequent inventories help in license compliance, ensuring you aren’t under-licensed or over-licensed, both of which can lead to significant costs.

Periodic checks also allow for the timely identification of obsolete equipment or software, enabling businesses to phase them out and invest in more updated and efficient solutions. Keeping a digital log during these inventory sessions can make tracking easier and more efficient in the long run.

2. Implement a lifecycle management strategy

Every piece of hardware and software has an effective lifecycle. By understanding when an asset is nearing the end of its useful life, you can plan for replacements, thus preventing potential downtimes. Furthermore, software that’s no longer supported can be a security risk, so ensure it’s updated or replaced timely.

3. Centralise asset information

Utilising centralised management software or platforms can help you easily track, manage, and report on your IT assets. Such systems provide a holistic view of your assets, making it simpler to spot inefficiencies, redundancies, or areas that need attention. If you ever find yourself wondering, “What is an IT Service Desk?“, it’s essentially a central hub for dealing with issues related to IT, and it often plays a crucial role in this centralised approach to asset management.

4. Secure your assets

With the rise in cyber threats, securing your hardware and software assets is more critical than ever. Regularly update and patch software to protect against vulnerabilities. Implement multi-factor authentication and regular backups to further safeguard data. For hardware, physical security measures such as locks, access controls, and surveillance can deter theft or unauthorised access. Additionally, educate employees about potential risks and best practices to ensure a collective effort in maintaining security.

5. Educate and train your staff

Your employees play a significant role in IT asset management. Training them on the importance of software licences, the risks of downloading unauthorised software, and proper hardware handling can lead to more responsible usage and fewer IT issues.

Managing your business’s hardware and software assets is an ongoing process that, when done right, can lead to operational efficiency, cost savings, and reduced risks. Leveraging tools and practices like regular inventories, lifecycle management strategies, and centralised information systems can make this process more manageable and effective. Remember, as your business grows and evolves, so will your IT asset management needs, so it’s essential always to stay informed and be proactive.