What is IT Asset Management? – it’s making the most of what you’ve got!
Wikipedia defines asset management as follows:
“Asset management refers to a systematic approach to the governance and realization of value from the things that a group or entity is responsible for, over their whole life cycles. It may apply both to tangible assets (physical objects such as buildings or equipment) and to intangible assets (such as human capital, intellectual property, goodwill and/or financial assets). Asset management is a systematic process of developing, operating, maintaining, upgrading, and disposing of assets in the most cost-effective manner (including all costs, risks and performance attributes)”.
IT Asset management is all about reducing the Total Cost of Ownership of computers, phones and all your other IT. Total Cost of ownership is finally being understood as asset management processes develop. TCO is a term that has been recognised far more in recent years. Our Asset management tools will give you:
- Greater and simpler control of asset data.
- Reduced costs across hardware, software, software licenses.
- Improvements to the management systems in place.
- Improvements in networked assets, fixed assets and cloud based assets.
We know that the total cost of ownership for your computers and other hardware (or TCO since we all love acronyms these days) is far more than the cost of buying the actual kit. In fact, it has been shown that the cost of the kit is around a quarter of the total cost of ownership. So the remaining three-quarters of the cost is made up of seven key elements:
- Computer Software.
- IT Support.
- End-user costs.
- Downtime and lost opportunity costs.
- Training to use the equipment and the software.
The total cost of ownership of IT.
These days we talk about managing your IT “estate”. This is a fancy way of saying “what is the cheapest way for me to own my IT equipment. For most companies, this is usually over a three year period”. Choosing a 3-year term for new IT is often considered the sweet spot in terms of cost versus reliability.
At Innovent Leasing, we buy the equipment for you. We then look to lease the equipment two or maybe three times across its life. So this has enormous advantages for you. First of all, as the buyers of the IT, we’re going to ensure we are getting the best possible price. Also, we want the very latest products. This is vital to ensure we get the maximum life out of the product. Equipment that is about to be replaced by a new model will lose its value very quickly. So the advantage is that our finance terms are actually cheaper. By that I mean, cheaper than if you go out and buy it yourself. Isn’t that what Asset Management is all about?
Our customers think so:
“We really like the fact that, unlike other lease companies, Innovent really do want our IT kit back at the end of the lease. This means we can get far better lease rates than anyone else can offer”. TUI
“We love the fact that our old IT has a second life – and even a third life. It ticks our passion for sustainability and our desire to use suppliers who are truly “green” in their approach to business”. M.F.
IT Asset Management for Business: Financing is cheaper the Buying.
So this will come as a bit of a shock to most senior IT buyers. Simply because they are used to lease deals that mean they pay MORE than the cost of the kit itself. How else would the lease company make a profit, right? Well, that’s not the case with Innovent Leasing.
With us, you actually pay less than the cost of the equipment new. That’s why the Innovent Leasing solution is so unique. No strings attached and no confusing contracts either. It really is the best of both worlds.
- Asset tracking and full audit. All the relevant information at your fingertips.
- Ensuring every single technology asset is fully maximised.
- Maximising the asset lifecycle to achieve the lowest costs.
- A full analysis of all the costs involved.
- Delivering measurable green credentials so your company meets its recycling quota.
- Asset management best practice.
So to find out more give us a call today. We offer a full asset management solution for hardware and software. We would be delighted to show you how we can reduce your Total Cost of Ownership for your IT equipment. You can call us on 020 7123 4570 or email us here.