In today’s worldwide operations, IT Asset Management is a common link. The assets and budgets might be located around the world, presenting a global challenge for teams to implement ITIL best practices in the organization.

The costs are often presented in a variety of places and methods in the business. It initiates in the first procurement request to purchase a new asset in the business and where it will be fulfilled. That is followed by negotiating the contracts with the suppliers and receiving the assets or services, validating the shipment matches the order and starting the management of the new asset. The pricing can have a broad range, depending on the contract term and whether the asset is currently covered under a maintenance/service contract as well as the others in the business with that same provider or vendor.

In most organizations the IT organization now has primary responsibility in the next stages, where the purchase is evaluated over time for retirement due to lack of operational use. This occurs due to simply aging of the technology investment, or possibly lack of compatibility with other systems and organizations in the business. At this time, it is critical to update the asset status in the IT Asset Management system, such as RACS where the data will be updated and provided to both IT and Finance organizations.

The final action or stage in IT Asset Management is the planning phase. This includes both organizations (IT and Finance) to share the required information in a clear, common and consistent manner that is understood across the business. Future planning is an ongoing cycle in order to be prepared for audits, budgeting, and forecasting. People, Process and Technology are all integrated in order to provide a complete approach for the organization and work toward greater benefits. Are you aligned for end of the year checkpoints and reporting? Contact the RAY ALLEN INC team today to learn more about the solutions to align with your business.