IT Asset Management for business.

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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’s 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 management processes develop. It’s fair to say that TCO is a term that has been recognised far more in recent years.

Our 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 actual cost of the equipment is only a quarter of the total cost of ownership.

So the remaining three-quarters of the cost is made up of seven key elements:

  • Computer-Based Software.
  • IT Support.
  • Management.
  • Communications.
  • End-user costs.
  • Downtime and lost opportunity costs.
  • Training to use the equipment and the software.

We would add a further category to this research based on our many years in the industry. It is the issue of staff morale.

There is nothing more frustrating for staff, particularly with many working from home these days than having to cope with poorly performing desktop and laptop computers. It is vital that management is seen to be investing in their teams. When that investment actually costs less than the existing IT spend, we feel that this is a missed opportunity.

The total cost of ownership of IT. Lifecycle Management.

These days we often talk about managing your IT “estate”.

This is a fancy way of saying “what is the most inexpensive 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.

For Finance Directors this sweet spot needs to take into account the real cost in terms of cost versus reliability. Reliability is one of the hardest issues to add to the cost equation, particularly if it is not an area you have lots of data to support your decision.

At Innovent Leasing, it’s important to remember that we buy the equipment for you. Many years of experience mean we know which equipment is reliable and which isn’t. We then look to lease that equipment two or maybe three times across its life once you have finished with it.

The enormous advantages if this approach are clear both is the low cost and the superb reliability we bring to the relationship.

First of all, as the buyers of the IT equipment, we’re going to ensure we’re 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. Obviously, IT equipment that is about to be replaced by a new model in the next few months will lose its value very quickly.

So the advantage is that our finance terms are very inexpensive. By that, we mean, far less expensive than if you go out and buy the computers or other IT yourself.

Isn’t that what Asset Management is all about?

Well, our customers certainly 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 very inexpensive compared with 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.
  • Our review includes all your hardware, desktops and laptops, digital assets, software licences and mobile devices.
  • 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.
  • Other services that you may be interested in include leasing new IT, leasing refurbished IT and subscription IT.

We offer a full asset management solution for hardware and software to help you avoid unnecessary waste. We would be delighted to show you how we can reduce your Total Cost of Ownership for your IT equipment.

So to find out more give us a call today and speak to one of our friendly team. We can have a bespoke quote to you within a matter of days and, of course, you are under no obligation whatsover.

You can call us on 020 7123 4570 or email us at info@innovent.co.uk

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InnoVent is the leading UK Asset and Lease Management Specialist for New and Refurbished IT equipment.

We have one aim: reduce our clients' total cost of IT ownership. 

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