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Anthony Lamoureux, CEO of Smart Locker Provider, Velocity Smart

Whether it’s a wallet or car keys, the trouble and cost of losing something important is far too familiar for all of us. Now imagine you’re a business leader who has to deal with the costs and lost revenues searching for and replacing hundreds of missing IT assets.

As businesses become increasingly data-driven, the number of IT assets is growing. This makes keeping track of hardware and software ‘mission impossible, especially with the added complexity of hybrid working, with staff working across different locations.

Visibility over what employees are installing on machines is also becoming harder to monitor, which brings with it its own unique set of issues around the employees these days might never step foot into the office, which makes things such as software updates and returning machines after use a logistical nightmare.

Yet if equipping workers with the tech they want is important in keeping them productive, as well as useful in attracting and retaining top talent, is distributing IT assets unavoidable?

Assert loss directly impacts businesses 

Research suggests that 25% of UK employees have at some time misplaced essential work-related assets relating to their job, with the most popular mislaid, or stolen items including mobile phones, laptops, tablets and power packs/chargers. 

Combine this with the stark reality that one-third of organisations are not aware of the hardware they have, where they're located, or who is using them, as well as the new normal of hybrid working means that the game of IT asset hide and seek may be an endless one, which is impacting UK businesses, with research from the UK government showing that post the pandemic, businesses are less aware of cyber security breaches their staff are facing.

Aside from the inconvenience and upfront cost of replacing the assets, businesses also need to invest both time and money into, for example, recovering any lost data, investigating the incident,a potential data breach, and any loss in reputation with their customers the missing asset(s) may bring. 

Asset management may not sound like a top priority for businesses, but it can have a massive impact on the bottom line and profitability.

You’ve got to go for gold with asset management

IT asset management refers to the entire process of tracking a business's technology assets, whether hardware or software. 

These can include intangible assets, such as contracts, software, and purchase orders, and physical assets like technology equipment, hardware, and servers. IT asset management connects everything with the organisation’s IT infrastructure, allowing IT employees to review all these assets.

With efficient IT asset management, businesses can make informed business decisions, and ensure full utilisation of their assets, reducing IT and software expenses. 

What are the solutions? 

One simple, but significantly effective way of managing your IT assets is to implement procedures that will ultimately save money. A robust IT asset management system would help a business to create and then enforce policies and procedures that will directly impact its bottom line.

As businesses strive to use resources in more rational ways to eliminate unnecessary costs, asset management tools, such as smart lockers offer a viable solution for managing them.

Smart lockers simplify asset management for IT teams and employees. They provide top-notch security and a digital, real-time record of transactions so you can keep track of assets and know who’s responsible for missing items, whilst saving businesses time and money. For example, implementing smart lockers in a business with over 3,000 computers could save a business up to £240,000 in lost assets.

Smart lockers can fully integrate with exciting building management systems. They can also be managed remotely from a single location. Businesses are able to ensure a smooth transition of assets between supplier and employee, ensuring that the IT asset is not only organised but is accounted for. Always. 

Ready or not, here come…hardware and software, your days of running are numbered!

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Anthony Lamoureux, CEO of Velocity Smart Technology, the smart locker provider