The High Cost of Bad IT Asset Management

In the non-stop world of business, there is always something that needs to get done

But as your computers and electronics get older, they may begin to slow down, develop problems, or even stop working unexpectedly. If your business relies heavily on technology, you may experience disruptions to your workflow, or worse, find yourself without the necessary tech to complete a job.

We can help you determine the necessary tech you need.

Having poor end-of-lifecycle IT asset management can lead to unnecessary and avoidable issues that negatively affect your business.

Here are some of the biggest costs of having bad IT asset management that can hurt your business.

Increased Total Cost of Ownership and Financial Risks

The total cost of ownership (TCO) is the purchase price of an asset combined with its operation costs. The TCO of a product represents the complete cost of the item through its entire lifecycle.

Having poor IT asset management protocols can lead to an increased TCO for businesses. Additionally, devices can even fail and need to be replaced entirely, resulting in a higher TCO. On average, businesses with ineffective or no IT asset management practices have a total cost of ownership that is 7-10% higher than other businesses.

Poor End-of-Life IT Asset Management Leads to Waste

By not having a thorough knowledge of their systems, companies risk gathering incorrect information on their hardware and software. This can lead to overspending or purchasing the wrong upgrades, leading to unnecessary and increased waste from the company.

Poor IT asset management can also lead to an overstatement of a company’s asset value due to depreciation not being accurately reported. This will result in the business paying more in property taxes.

Poor IT Management Can Lead to Inefficient Operation

Not properly staying on top of your IT assets health can lead to problems related to your business’ devices. Some of the most harmful issues that can lead to inefficient operation in your business are listed below.

Unscheduled Downtime & Distractions

Poor IT asset management can lead to your business being plagued with downtime that disrupts productivity. Additionally, these disruptions may lead to unforeseen distractions that require additional time and assistance.

Loss of Data

Without a proper IT asset management service or protocols in place, you run the risk of losing data as a result of faulty hardware or software.

Unexpected Parts, Repair & Maintenance Services

Lacking a proper IT asset management service or having no protocols in place can also lead to the unexpected need for parts, repairs or maintenance on your devices. These unforecasted issues can range from small parts to entire systems, causing the disruption to your business’ operations to range drastically.

Rushed Delivery, Overtime & Burnout

As a result of unexpected delays, this could lead to your business’ services to be rushed to completion, resulting in poor quality. Even worse, it could cause employees to work overtime to work around these issues and contribute to burnout. Depending on the context and timing of your issue, you may lose a customer, hurt your reputation or create liability as a result of these issues.

Hire Rocycle as Your End-of-Lifecyle IT Asset Management Service

As a critical component of business, it’s in the best interest of both consumers and businesses to properly manage IT assets. If you need help managing your excess and unused IT assets properly, and want to maximize their value, contact Rocycle. When you choose Rocycle, you are investing in an IT asset management service committed to helping you get the best out of your IT equipment and assets. We can even recycle and dispose of equipment you longer need!