Measuring the Success of Your Asset Management Solution

You’re interested in getting a proper asset management solution in place. As an IT pro, the value of centralized, structured documentation is obvious. You get it.

But you have to get approvals from your boss, your boss’s boss, maybe even someone in Ops or Finance. We go into detail about this here in our blog “How to Get Approval for an IT Documentation System.” The challenge arises when you’re asked to demonstrate ROI.

Asset management doesn’t lead to sales, but that doesn’t mean there isn’t a return on investment. You simply need to know where to look to find ROI. So, when someone needs to see the ROI of something in order to give their approval, you need to be able to show them where that ROI comes from.

In our experience, ROI of asset management comes from a few different places. Here’s where.

Track your service desk metrics

The performance of your service desk is always a good indicator of IT success. One of the key benefits of asset management is that it provides easy access to mission-critical information. This helps bring down your ticket resolution time and improves your resolution rate. You need to track these metrics before and after the implementation of your asset management system. This will give you an idea of how it has helped improve your service desk metrics.

Customer satisfaction is also a critical factor when analyzing service desk metrics. Faster resolution of service requests will naturally improve your customer satisfaction score. Hence, you need to track your customer feedback to make sure their satisfaction levels have improved after the implementation of your asset management system. Other key factors like ticket backlogs, tickets resolved per hour, etc., are also good indicators of service desk efficacy in relation to asset management.

Analyze your organization’s efficiency

Proper asset management will bring down the time spent on redundant tasks in your organization. Hence, your organization’s efficiency will witness a visible increase after the implementation of an asset management solution. For instance, tasks that once required an hour to perform can now be done in just 45 minutes due to the easy availability of information.

Analyze these changes in different departments to see how your organization’s overall efficiency has increased. Asset management can also reduce the time spent on gathering, searching, organizing and reviewing vital information. If you need tangible evidence of asset management’s benefits, you can use our waste calculator to measure the costs of not maintaining documentation. This will give your higher-ups an idea of what they are missing out on.

Check the availability of time for additional projects

The main goal of asset management is to reduce the time spent on repetitive tasks to allow you to focus on other core tasks that matter. Track the extra time you have gained after the implementation. For instance, you might have had a history of postponing your cybersecurity initiatives due to lack of time. Check if your organization has restarted these initiatives or gained additional time to spend on similar projects after the implementation of an asset management solution.

Track the health and happiness of your team

Successful asset management doesn’t always have to be something that contributes to the bottom line of your company. In many cases, you can see that in the mental health and happiness of your employees. Managing your IT infrastructure can be a stressful process that often leads to burnout.

Following the implementation of your asset management system, your employees are likely to become less stressed, more engaged and more productive. It also promotes flexibility in work by allowing employees to access information from anywhere. With your employees not being tied to their workstations, they will be more content and efficient when handling their tasks. Also, automated workflows remove employees from redundant tasks. Hence, they won’t have to be stuck with frustrating tasks that don’t contribute to their growth.

As a result of these benefits, your attrition rates are likely to go down. You can witness this just by tracking your employees’ performance and gathering their feedback on the asset management solution.

Successful asset management with IT Glue

IT Glue is an award-winning documentation tool that comes with great reporting features. You can measure the success of your asset management process by tracking various metrics. IT Glue also comes packed with many innovative features.

IT Glue’s SOC 2-compliant documentation platform features an immutable audit trail, multifactor authentication and a next-generation password management engine. These features are fully integrated and linked with all your documentation.

To learn more about how IT Glue can meet your documentation needs, request a demo.