The Importance of IT Inventory Audits

Auditing your IT inventory (or anything, for that matter) can seem like quite a feat when you're just starting out. While it may seem like a lot of pressure to ensure you correctly inventory your IT assets for financial or compliance purposes, it really can be a simple process that ultimately benefits your entire organization's day-to-day work.

Let's review 5 reasons why IT inventory audits are so important and how exactly they benefit your team.

Accurate Asset Records

When you routinely conduct IT inventory audits, you'll ensure that your asset records are regularly updated and accurate. Accurate asset records not only help you effectively manage your current inventory but also plan for future purchasing needs. 

Better Asset Utilization

Since audits help you identify underutilized assets, you can, in turn, optimize your resource allocation and lengthen the lifespan of those assets to ultimately save money.

Increased Compliance

By routinely verifying the status and condition of your IT assets, your organization can remain compliant with licensing agreements, regulatory requirements, and industry standards, avoiding the legal and financial risks associated with non-compliance.

Improved Efficiency

Accurate IT inventory records enable your team to more efficiently assign assets, troubleshoot technical issues, and plan and budget for future purchases. Plus, having a pulse on the current state of your IT assets and network infrastructure helps to ensure your employees have the right tools they need to effectively do their jobs.

Reduced Downtime

By tracking the exact location, condition, and repair history of your IT assets, you can accurately forecast upcoming maintenance needs and, in turn, reduce downtime. This also applies to the state of your overall network and your software licenses – when you can ensure your servers are in working order and you have enough software licenses for your employees, everyone can stay on track and productive.

Conclusion

These 5 benefits are just scratching the surface when it comes to the importance of IT inventory audits. Your team may realize many other positive changes to productivity, efficiency, and more when you routinely confirm and update your IT asset data.

We know that starting out with IT inventory audits can feel like a big hurdle to overcome, but with the right tools and procedures in place, it really can be a smooth process! For tips to build and implement a repeatable IT inventory audit plan, check out our best practices guide.

If you're ready to switch to a comprehensive IT asset management and audit tool, Asset Panda's got you covered! Request your demo today to get started.