For many modern businesses, IT asset inventory management is an integral part of the day-to-day operations. The concept of managing and protecting IT assets centers on a set of business practices that joins financial, contractual and inventory functions to support life cycle management and strategic decision making for the IT environment. It is important for cutting edge businesses to have an inventory management solution for all the elements of software and hardware that are found within the structure of their organization. This is particularly important for small businesses, where each IT asset plays such an important role.

The goals of any small business inventory management software system are to identify savings through process improvements, stimulate strategic decision making, control inventory, increase accountability, ensure compliance, enhance asset performance, manage the asset life cycle and reduce risks through standardization, proper documentation and loss detection. The ideal IT asset management system will provide a completely customizable and central solution that helps the small businesses to document their IT assets for insurance purposes. This includes a central location where all computer hardware and software, purchase dates, costs, locations, warranties and service records are documented.

An effective IT inventory management solution will also be intuitive for users of all skill levels. The IT asset inventory tool should allow administrators to list and track all users’ login and system passwords, and offer a centralized location for company domain names and ftp/web site account information. This is essential for a small business that has various users all sharing access to the same IT software and hardware.

With a good small business inventory management software system, organizations of all sizes and scopes can ensure that their IT assets are in good hands at all times. This is an indispensable new component of the modern business landscape of the 21st century.

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