what is it asset management

What is IT Asset Management and Why is it Important in the Apparel Industry?

Are you making the most cost-effective decisions for your company?

If you’re in the fashion industry and looking for the best ways to improve your efficiency, you’ve clicked your way to the right place!

Seeing anything related to IT in the title can be scary, but in a digital world, it’s important that businesses keep up with technology. Don’t get left behind with the outdated tech!

What is Asset Management?

Asset management is a structured process that takes time and a keen eye. It’s not just a one and done job role–this process includes development, operation, and maintenance. The goal is to keep up with asset management to sell in the most cost-effective way.

An asset is anything of economic value that is used in your work, tangible and intangible. For IT assets, though, consider all your hardware and software that’s used in your day-to-day operations.

Are you using a website? Does your company offer a mobile application?

It stems way beyond that, too. Any devices the company owns, from tablets, to registers, to hand-held scanners–everything here is an IT asset that is used to help your company grow.

Why Does IT Asset Management Matter?

So, you’ve learned how it works and what it is, but now, why does IT asset management matter?

In an ever-updating digital world, cyber security is crucial for business. Keeping track of all hardware and software assets will allow you to prevent network weak points. Many customers worry about data breaches. Maintain customer loyalty by keeping your systems updated and well-managed.

With that being said, worrying about outgoing assets doesn’t need to be another thing on your plate. There are regulatory standards that need to be followed when it comes to sensitive information, meaning certain hardware must be wiped and even destroyed before being disposed of.

As technology updates, though, your company may be introducing new hardware often. Keeping track of these new assets will keep your network more accurate and block any gaps in your cybersecurity.

See how it comes full circle?

IT Asset Management keeps your company and your customers protected and makes their role in your business much easier.

Which Asset Management System Works Best?

There are many ways asset management can work for fashion companies, specifically an enterprise resource planning system, or an ERP. Companies of all sizes and many different industries can improve their IT asset management by using an ERP system.

An ERP system gives you amazing benefits, such as:

  • Generated reports to improve business insights.
  • Improved cybersecurity to reduce risks of data breaches.
  • Common user experience for a better design and improved efficiency.
  • Uniform systems and best business practices to achieve lower operational costs.

ERP checks all the lists on why an asset management system is important, as discussed in the previous point. Whether you’re just starting out or looking to scale with a well-rounded system, an ERP could be the right fit for your business.

Stay Organized and Reduce Costs with Asset Management

Technology doesn’t seem to be going anywhere, at least not anytime soon, so don’t get left behind with outdated hardware or software.

Having a solid ERP will keep your company running cost-effectively and safely, which will help keep you in business and keep up brand loyalty.

If you’re ready to manage your costs and keep your company well organized, it’s time to invest in a great asset management system.

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