In order to balance your IT infrastructure budget with your financial projections, it’s integral to undergo proper value analysis tracking of your IT assets.
Simply put, this means understanding how much your assets are worth to your business at any given time.
Value analysis tracking can be done in a couple of different ways: subjective and objective. Objective approaches to value analysis tracking consider the hard numbers; it’s what your financial department wants to see. These numbers are based on the initial cost, how quickly the product is depreciating in value, and what it would be worth in resale. Subjective costs rely solely on values placed on proprietary or confidential assets that may not have a hard and fast dollar amount attached to them, but would result in operational and productivity losses if unavailable.
When you have a value analysis tracking system integrated with your ITAM software, you can easily view dollar amounts for every piece of hardware in your IT infrastructure library.
Our proprietary software, I.V.A.N, can accurately assign value to every piece of hardware and software that your business operates so that you can recoup costs associated with end-of-lifecycle disposition. When integrated with TRACEability, or another ITAM software, I.V.A.N can follow your assets and track their value throughout their lifecycle.
We know that the value of your asset can sometimes be more than the out-of-pocket investment, and I.V.A.N can be customized to account for those productivity benefits, process reliances, and the overall value to your core business.
Through accurate value analysis tracking functionalities, I.V.A.N can calculate the objective costs such as:
- The initial product costs
- Ongoing costs such as licensing and supporting requirements
- External marketplace value (factoring in depreciation due to age, use, and exposure to the elements)
- Considering obsolescence requirements — has the product outlived it’s usefulness?
As well as the subjective costs such as:
- Value to core business operations
- Cost to replace if lost
- Operational and productivity benefits
For value analysis tracking that assigns a proper asset valuation to your hardware and software, you can then concoct an accurate business financial plan based on the lifecycle of your IT assets, while also understanding the value that you could receive in asset recovery services.
If your business is considering a technological refresh and are looking into implementing value analysis tracking on either your current or new assets, get in touch with our team of professionals. We’ll ensure that you’re not only getting the most value out of your dispositioned assets, but that you’re following best practices for data security management as well.