Stop the Drain: Enhancing IT Asset Management for Better Device Retrieval

Technical Account Executive
· 3 min read
Girl shocked after checking her bills

Facing a growing drain on your IT budget due to unreturned laptops? You’re not alone. Businesses annually lose significant amounts to untracked IT equipment as employees fail to return devices. This issue impacts more than just finances. It’s an operational challenge needing immediate action.

Half of the 213 senior executives said they’ve lost at least 5% of their endpoint devices when employees leave. Just under 40% said they’ve lost fewer than 5% of their devices and the remaining said they don’t know what their losses are.

Legal Dive / YouGov data
Security, Liability risks graph

In this post, we’ll uncover effective strategies to boost your device retrieval rates, protect your budget, and streamline IT asset management. This journey is about more than just retrieval, it’s about connecting the dots. Dive in as we explore strategies that not only recover your assets but also bring coherence and efficiency to your IT asset management.

The Quintessence of IT Asset Management

At its core, ITAM transcends the mere cataloging of IT assets. It embodies a holistic approach that encompasses the deployment, maintenance, and disposal of assets in a manner that aligns with organizational objectives. Asset management thus becomes a strategic framework, ensuring that every IT asset—be it hardware, software, or services—contributes to the business’s overarching goals.

The Strategic Imperatives of ITAM

A robust ITAM asset management strategy hinges on several key imperatives:

  • Comprehensive Visibility: Achieving a bird’s-eye view of all IT assets across the organization is fundamental. This visibility is not just about knowing what exists but also understanding the condition, location, and performance of each asset.
  • Lifecycle Optimization: The journey of an IT asset from acquisition to disposal, known as asset lifecycle management, is critical. Effective management of this lifecycle ensures that assets remain productive throughout their usage period and are retired or replaced efficiently when their utility diminishes.
  • Cost Management: By preventing asset underutilization and over-provisioning, ITAM facilitates optimal investment and operational cost control. It also plays a vital role in software license management, helping avoid penalties associated with non-compliance.
  • Risk Mitigation: ITAM assists in identifying and mitigating risks associated with asset management, including security vulnerabilities, compliance issues, and operational inefficiencies.

The Role of IT Asset Management Software in Device Retrieval

IT asset management software stands at the confluence of technology and process, offering a suite of tools designed to streamline the asset management process. These tools are particularly effective in enhancing device retrieval—a process often fraught with challenges, especially in the context of remote onboarding and offboarding.

Elevating Device Retrieval with ITAM Software

The utilization of ITAM software introduces a level of precision and efficiency in device retrieval operations that is hard to achieve through manual methods. This software facilitates:

  • Automated Tracking: Real-time monitoring of asset status and location, which is invaluable for managing devices that are distributed across multiple locations, including those in the hands of remote employees.
  • Maintenance and Update Alerts: Automated notifications about maintenance schedules, software updates, or renewals, ensuring that devices remain in optimal condition and are always up-to-date.
  • Inventory Management: Detailed insights into the inventory, allowing for better planning and allocation of devices, particularly critical during remote onboarding phases.
  • Secure Data Wipe: Ensuring that returned or decommissioned devices are properly wiped of sensitive information, mitigating potential security risks.

Best Practices for Enhancing ITAM and Device Retrieval

To harness the full potential of ITAM asset management and optimize device retrieval, organizations should consider the following best practices:

Implementing a Comprehensive ITAM Strategy

Developing and implementing a comprehensive ITAM strategy that encompasses asset lifecycle management is paramount. This strategy should detail the processes for acquisition, maintenance, and disposal of assets, ensuring they align with business objectives and IT standards.

Leveraging Advanced ITAM Software

Selecting and deploying advanced IT asset management software is crucial. The chosen solution should offer features that support asset lifecycle management, maintenance scheduling, inventory management, and secure data deletion, among others.

Streamlining Remote Onboarding and Offboarding

With the rise of remote work, it’s essential to streamline remote onboarding and offboarding processes. This involves ensuring that ITAM software can effectively manage the deployment and retrieval of devices in a remote context, minimizing downtime and ensuring continuity.

Regular Training and Awareness

Educating staff about the importance of asset management and their role in the ITAM process is critical. Regular training sessions can help ensure that employees are aware of the procedures for requesting, returning, or reporting issues with IT assets.

Conclusion: A Call to Action for Optimized ITAM

The intricate dance of managing IT assets, particularly in the face of challenges like remote onboarding and efficient device retrieval, necessitates a sophisticated approach to ITAM. By embracing comprehensive IT asset management software, adopting best practices in asset lifecycle management, and fostering an organizational culture attuned to the nuances of asset management, businesses can not only stop the drain on resources but also enhance operational efficiency, reduce risks, and ultimately, drive competitive advantage.

In an era where technology assets are integral to business operations, adopting a strategic approach to ITAM is not just advisable—it is imperative.

Effective IT asset management requires clear policies, a responsible culture, and streamlined end-to-end solution tools like Dots. Addressing the issue of unreturned devices not only protects finances but also boosts operational efficiency. Embrace this comprehensive approach to ensure a secure, efficient IT environment.

We’re revolutionizing the way businesses manage assets and remote work. Are you ready to join us? Book a demo, and let’s find out how we can save you time and money.

Technical Account Executive

Connecting the dots