Companies own different types of assets, which can be divided into IT and non-IT assets. They include everything the company owns, from software to physical furniture. The growing number of assets can make it challenging for companies not to lose track of them. If this does happen, it costs time and money to create order and manage the administration more efficiently.

This is exactly where professional asset management comes in. It supports companies in making processes more efficient without losing information by ensuring centralized asset management.

All resources are collected in one place, creating transparency. This increases customer and employee confidence and optimizes costs and security.

The following blog article takes a closer look at what is behind this solution and what advantages and disadvantages it brings – regardless of the size of the company.

What are IT and non-IT assets?

To understand asset management, you need to look at the differences between IT and non-IT assets and understand their role in the company:

• IT assets describe assets that IT requires – digital and technical resources. This includes, for example, laptops or servers. They are often crucial for the functioning of work in companies.
• Non-IT assets, on the other hand, include physical things that are not directly related to IT but still need to be managed. Examples include machines in production, but also office furniture.

Why is this distinction important? It’s simple: IT and non-IT assets have different maintenance, security and lifecycle management requirements. Anyone who lumps both asset types together quickly loses sight of the big picture – and potential. A clear separation creates the basis for efficient processes, targeted reporting and tailor-made strategies. In short, it is the key to professional asset management.

Advantages of centralized asset management

Centralized asset management offers a real game changer for companies that want to make their processes more efficient while complying with regulations. This allows assets to be organized in one place, which has several advantages:

• Increased efficiency is one of the biggest advantages, as this step automates processes and allows data to be managed more efficiently. Duplicate entries, manual reconciliation or searching for information are a thing of the past. This not only saves time, but also nerves.
• Another plus point is cost control. If you have an overview of your assets – whether IT or non-IT – you can make more targeted purchases, plan maintenance in good time and avoid unnecessary expenditure. This ensures leaner budgets and better decisions.
• Security also benefits from a centralized system. Uniform guidelines are easier to implement and monitor. This ensures that all assets – especially digital ones – comply with current security standards.
• And last but not least: compliance and auditability. Especially in strictly regulated industries, it is crucial to have an overview and be able to prove at any time what the company owns and who is responsible for it. Centralized asset management creates precisely this transparency – and thus a solid basis for companies to act in compliance with regulations.

This is how centralized asset management is used:

• The path to centralized asset management begins with a precise understanding of the needs of the company and its software. Needs analysis is the magic word here: Which assets already exist in the company? How are they currently managed? And where are the weak points? Only when this is clear can targeted optimization be carried out.
• The next step is to select the right tools. Care must be taken here to ensure that they include both IT and non-IT assets.
• They should therefore be flexible and take user-friendliness and integration capability into account in order to provide the most efficient solution possible.
• Then comes data migration – an often underestimated but crucial process. Existing asset data must be transferred correctly and completely to the new system. The rule here is: quality before quantity. It is worth checking and cleansing data in advance to minimize sources of error.
• Finally, it’s all about the people: training and change management are essential for success. A new system brings change – and this can only succeed if everyone is on board. Targeted training and open communication can get employees on board, involved and enthusiastic. In this way, central asset management is anchored in the company not only technically, but also culturally.

Best practices for asset management

Centralized asset management can only be fully utilized and effective if the processes are clearly defined. Here are some examples of applications that have a positive effect in practice:

• First of all, regular inventories are important. This is crucial, because regular checks allow deviations to be identified and rectified at an early stage. This is crucial for maintaining an overview and is a simple step that has a big impact.
• Lifecycle management is just as important. From acquisition to use and maintenance, every asset has different phases that it goes through. If you are aware of this lifecycle and actively monitor it, you can make better decisions, use resources in a more targeted manner and minimize risks.
• A real efficiency booster is the automation of processes. Recurring tasks such as reminders for maintenance appointments or updating inventory data can be mapped automatically – this saves time, reduces errors and frees up space.

And last but not least: Integration with other systems. Modern asset management should work seamlessly with existing solutions such as ERP, ITSM or financial systems. This creates a networked ecosystem that uses information intelligently and keeps an eye on the big picture.

Conclusion: What makes asset management so important?

In summary, it can be said that centralized asset management is crucial to the success of companies today. Whether IT or not, it ensures increased efficiency, better cost control, but also greater security. Those who maintain an overview can make well-founded decisions and control processes in a targeted manner.

Looking to the future, it is clear that the demands on companies are increasing – and with them the complexity of the infrastructure. Due to hybrid working models and increasing regulations, companies must take this change into account and act accordingly. Various tools can be used to overcome this challenge and adapt to the different requirements of companies.

It is therefore clear that now is the right time to create structures that will be sustainable in the long term. Companies that invest in centralized asset management today are laying the foundations for sustainable success in order to keep pace with the competitive market in the future.