We know that businesses are becoming increasingly technology-driven. Thanks to computers and their specialised software, many repetitive functions and tasks can be automated, and often the metrics provided by this technology can help to manage the company better, identify problems within the system and processes, and identify new opportunities in the marketplace. Because most companies are highly dependent on their technology and information systems, it is essential that some sort of asset-management software is in place.

What Asset Management Software Is and What It Does

Asset-management software is usually software applications that are used to track and record a particular asset all through its lifecycle at the company. In physical terms, for instance, it can track new products coming into the organisation, expiry dates of these products, where they are stored, when they are used and how much is used – and warning operators when levels are getting low in order to enable them to proactively order more stock. Asset-management software can also track the presence, performance, and activities of other types of software within an organisation, and this may help to identify software or system problems and ineffective or underperforming software systems. It can also help to set permissions for certain users to give them access to certain information and to track the user activities on these files.

Benefits of Asset-Management Software

1. Organisations can track the performance of suppliers.
2. Procurement processes can be simplified and streamlined.
3. Keeping track of licensing requirements and sending warnings before software (or other) licenses are about to expire and due for renewal.
4. Optimise how assets are used, vastly reducing waste.
5. Helping to allocate resources and assets in order to produce a better return on investment.

When it comes to software asset management, there are further benefits, and these include:

1. Asset-management software can identify new software or unauthorised applications installed by employees onto the business computers or across the networks and provide details about these applications.
2. License management provides a proactive way of remaining compliant by renewing licences when they are due. It can also provide information about when licenses are unnecessary, and this can save money by avoiding purchases of needless or underutilised software.
3. Software measurement can monitor how software is used within the organisational network and determine when certain software is not used any longer, or when new software should be purchased.
4. Asset-management software can also control certain applications across the network and allow only certain people access to certain software programs or applications on the system. It can also provide useful information on the amount of users actively using certain types of software so that licences can be bought according to actual use and not projections.
5. It can also carry out patch management – it can automate certain downloads to update existing software to ensure that software is always up to date.

There are many other reasons to install an effective asset-management software solution at your organisation. In order to find out more, speak to our team at Sequoia for more information!