How to Accurately Track IT Assets

If you are a new small business owner, it’s important to know how to track your business hardware and inventory. 

IT asset tracking software will help you to track IT assets to keep them organized. You will know the quantity of each item you have and even receive alerts on when it’s time to restock that asset. 

We will define what IT assets are and the steps to take to track them accordingly. 

What are IT assets?

The National Institute of Standards and Technology (NIST) defines IT assets as valuable components needed for running a business. It’s also defined as systems that help a business to work and accomplish its reasons for operating. 

IT assets can be:

• IT software.
• IT circuit. 
• IT network. 
• IT virtual computing platform. 
• IT hardware. 

Today, we will discuss how to track IT hardware utilizing an IT asset tracking solution. 

Make a List of All Your IT Hardware

To track an IT asset, you must know all the physical items that help your business to properly operate. 

Any IT hardware assets include office equipment such as:

• Computers.
• Printers.
• Printer paper.
• Printer ink. 
• Routers.
• Cabinets.
• USB drives.
• Webcams.
• Fax machines.
• Other items that are needed for business operation. 

For every hardware item, be sure to include the following:

• Name of the item.
• The item’s name brand.
• The brand’s model number.
• The item’s SKU.
• A small description of each item with product specs. 

Write it all down using a pen and spiral-bound notebook first. Doing so will make electronic transfer easier. 

Track Your IT Assets With IT Tracking Software

The United States Department of Homeland Security (DHS) states that IT asset tracking software can read item SKUs and product tags. That feature helps with proper asset tracking. 

Whether the SKU is input from an Excel document or you scan the item directly into a software application, you will be able to track the asset’s quantity once it’s accounted for in the software. 

Once you finish compiling your hardware list, you can input the information into an IT asset tracking software. You can input the IT asset directly into the software’s application, or you can utilize another documentation way. 

If you prefer, input all your assets into a Microsoft Excel or Google Sheets document first. Most IT asset tracking software can input all of your assets from a Microsoft Excel document. Google Sheets is compatible with Excel, so if you do not have Excel, utilize Google Sheets to create your electronic list of IT hardware. 

Track Your Business Inventory

IT tracking software also helps to track business inventory. 

If you are in the clothing design business, you would track inventory such as fabrics, dyes, and sewing supplies. 

If you are in the construction business, you would track materials including wood, hammers, nails, and so forth. 

Follow the same list as above when writing down a list of your business inventory, except you should also include another key piece of information for each item. Be sure to mention how each item in your business inventory is utilized for your business purpose. That is best to do to teach new onboarding team members how each piece of business inventory is utilized. 

For example, if you are in the clothing design business, specify the types of fabrics and their applications. Perhaps you have cotton fabric for T-shirts and silk for blouses. 

Organize Your Hardware and Inventory Entries

Once all of your hardware items and business inventory have been input into the system using your method of choice, it’s time to organize them. 

Categorize each item based on your desired preference. You can categorize by color, item type, the purpose for each item, or other category preferences. 

Going with the clothing design business example again, you may want to categorize your silk fabric and dyes by color. 

Especially if you have different shades of each color silk and dye, this would keep all the different color dyes umbrellaed together. Blue dye may have shades and hues such as Sky Blue, Royal Blue, Periwinkle, and others. 

If you have a limited number of IT assets to track, the software may be free to you.

If your small business has many IT assets to track, you may have to pay a small monthly fee based on the number of entries that you will own in the software.

You will have to pay more for your IT asset tracking software if you have more entries in the application. Each entry is a unique item based on the identification number that the software assigns to that item. 

Final Thoughts on Accurately Tracking IT Assets

When selecting an IT tracking software be sure that it is an easy-to-use interface for your employees. If it can functionally organize and track IT assets, it will be an asset for smoothly running your business.