Online Asset Management Tools —
Connecting Purchasing With Asset Management
It happens far too often; Purchasing receives a request to order more hardware, so they check a few vendors for availability and pricing and then place the order. What’s wrong with this scenario? Without asset management, purchasing doesn’t know that they already have the assets they need sitting in a closet in a not-so-remote office. They could have saved money by requesting the assets be transferred instead of making a purchase. Some creative professionals turn to an Excel spreadsheet or a homegrown tool to track their assets to solve this problem. However, having the data in Excel scattered across multiple spreadsheets can be problematic. In some cases, you might have asset locations in one spreadsheet. Meanwhile, you maintain a list of contracts in a separate spreadsheet. Employees will spend a tremendous amount of time attempting to keep up with all of the assets within their organization. It can decrease the organization’s productivity as people run around trying to maintain spreadsheets and figure out hardware and software usage. All the while, assets are not being utilized to their fullest potential. This process creates information silos and leads to chaos.
Getting Purchasing the Tools They NeedWhen you improve your purchasing process, you improve the financial performance of your organization. A reliable way to manage assets offers the following benefits:
- Store contracts along with terms and conditions
- Track software maintenance, asset costs, and depreciation
- Track software licenses and hardware inventory from initial acquisition through retirement