Asset management apps focus on tracking, operating, and maintaining all company assets in a cost-effective manner. An IT asset management software (ITAM) ensures all organizational assets are monitored, functional, well-maintained, upgraded on time, and shelved when the time comes.
Why Do You Need My Assets Application?
1. Save Money and Time
Updates, installations, and purchases of various IT assets are necessary for the smooth functioning of the business. These are undoubtedly expensive, not to mention the additional costs for their renewals and updates.
In particular, hardware that is unaccounted for is one of the major pain points of asset managers. This becomes especially crucial when a security incident is reported on an IP of an asset that cannot be accounted for properly in asset management apps. Annual asset inventory reviews and wall-to-wall asset inventory became almost impossible with a mobile and remote workforce. Hundreds of thousands of dollars are wasted on unnecessary inventory practices and unaccounted for assets.
My Assets solves those challenges by decentralizing the asset inventory process and providing an automated tool for employees to account for their own assets and report accurately to asset managers.
2. Accurately Track Assets
Without routine checking, a company can pay taxes, insurance, purchases, and maintenance of no longer functional or needed assets leading to financial losses.
If found to be defaulting on these payments, the company stands to lose its credibility and incur fines.
My asset app facilitates routine checking by automatically setting a periodic asset validation, decreasing the amounts spend on maintenance of unused (decommissioned, retired, stolen, damaged, etc.) assets.
3. Organized Inventories
Most organizations today own a large number of assets and equipment. It becomes necessary to have a centralized inventory to be aware of the various tangible and intangible assets owned and leased.
Stock levels are often handled inaccurately, largely due to systems that fail to identify stock quantity. Without asset management apps, business operations will be scrambling to find previously purchased stock or struggle to dispose of assets past their expiration date.
Without a central system, it becomes difficult to verify and document the various tools, often leading to damaged tools being overlooked. The lack of an efficient inventory undermines productivity and contributes to a waste of resources and time. With less than optimal usage of various resources, money is primarily spent on rush deliveries instead of maintaining existing resources.
4. Enabling Teams across Organizations
With access to high-quality datasets, teams across the organization can work swiftly and anticipate the impact of various modifications before they happen.
The insights gained to provide the organization with a competitive edge, offering a higher value to employees and their customers and clients.
My Assets Supplements ServiceNow’s ITAM
My Asset management Apps on the ServiceNow Store offers a comprehensive, robust ServiceNow IT Asset Management solution that provides a user-friendly portal interface where employees can have a personalized view of their assets. Optimizing ITAM reduces the risks of asset mismanagement to asset management and improves employee productivity.
The Features
1. Automates Processes
Setup automatic validation periods and allow emails to be kicked off automatically to the users based on location or department. Users assigned to certain locations, departments, or even members of certain groups, receive automated notification to validate their assets. This periodic automated process keeps the asset inventory up-to-date.
2. Cost Reduction
For an organization with 50,000 assets, the estimated savings will be $1,079,500 annually, for a 6,000% return on investment. Contact us to learn how My Assets can start saving your organization hundreds of thousands or possibly even millions of dollars annually.
3. Reduce Asset Spending
Reduce inventory loss with real-time transparency. Minimize excess assets and quickly repurpose returned assets.
4. Reduce Ghost Assets
Eliminate extra support costs for ghost assets and reduce federal, state, and property tax overpayments on ghost assets by simplifying audits and confirming compliance with periodic testing.
5. Reduce Inventory Time
Eliminate manual and/or redundant work done by delegating parts of asset inventory to asset owners. Owners can review, validate, or dispute their own assigned assets.
6. Enhanced App Functionality
My Assets provides enhanced functionality and ease of use that facilitates end-user interaction. It also provides a centralized menu of operations for asset managers to have a centralized view of assets and to take action by certifying assets or directly contacting asset owners.
Here are some of the My Assets functions:
- Revalidation period available in application properties (1day, 1 week, 1 month, 3 months, 6 months, 1 year, 2 years, …)
- Validation reset available upon kickoff – managed by app users
- Incident assignment group can be selected from the application properties
- List of disputed assets are available in the portal for the asset team to resolve or dispute them
- Interim stage between dispute from the user and final dispute resolution from asset team
- Ability to group assets by location or by the department for validation kickoff
7. Centralized Dashboard for overall Asset Inventory landscape
The My Assets dashboards provide a detailed view of asset validation, by period, group, location, or department. It also shows the progress of simplified asset validation over time. The My assets allow asset inventory managers to collectively email users that have not validated their assets at any point in time. The automatic email reminders and the measurement of validation progress over time, allows the asset inventory managers to track progress and achieve 100% completion of asset validation in a short period of time.
Wrap-up
In today’s digital landscape, any organization trying to maintain relevance through modern innovation needs to be strategic about managing, monitoring, and mastering IT data.
Leidit’s My Assets has recorded more than ten thousand distributed assets validated within days instead of months. Nearly 1700 hours have been saved by automated validation and the one day required to set up, deploy and use My Assets.
Leidit offers IT consulting, systems integration, and implementation. We work with customers to exponentially increase the value of their IT systems & offer guidance in their journey of technology transformation.
Please feel free to reach out in case of any queries.
