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The 5 Ws of IT Asset Management

Posted by Patricia Turchyn | September 3, 2014 11:30 AM

Attention IT Managers and Executives!

Can your key people answer these questions for all of your Assets? If so, then no worries! You are dismissed from reading this blog since doing so would be a waste of your time. This blog is for those who are not 100% sure on the answers for these questions below. Which is to say, just about everyone who manages modern business!



  Who ordered that item?

  ☑ Who approved acquiring that item?

  ☑ Who owns that item?

  ☑ Who owned that item previously?

   Who uses that item?

  ☑ Who used that item previously?

  ☑ Who disposed of the item?

  ☑ What is that item?

  ☑ What is that item used for?

  ☑ What are the components of that item?

  ☑ What value has that item provided?

  ☑ What value does that item provide?

  ☑ What was disposed of?


  ☑ When was that item acquired (e.g. purchased, leased, loaned) ?

  ☑ When was that item provisioned for use?

  ☑ When was that item used?

   When did the status of that item change (e.g. acquired, moved, suspended, deleted, disposed) ?

  ☑ When was that item disposed of?


  ☑ Where was that item acquired (e.g. purchased, leased, loaned)?

  ☑ Where was that item provisioned?

  ☑ Where was that item used?

  ☑ Where is that item being used?

  ☑ Where has the status of that item changed (e.g. acquired, moved, suspended, deleted, disposed) ?

  ☑ Where was that item disposed of?



  ☑ Why was that item needed?

  ☑ Why is that item still needed?

   Why was that item disposed of?

  ☑ How was the item acquired?

  ☑ How many units of that item do we own?

  ☑ How much did that item cost to acquire?

  ☑ How much does that item cost to use?

  ☑ How often is this item being used?

  ☑ How was the item disposed of?


Some questions really need to be asked…

Attention IT Managers and Executives!

Corporations today are constantly focused on cutting costs. That said, there always seem to be some costs that don’t go down. This comes from a broader, more entrenched ideology of “we’ve always had it, so we definitely need it”. It’s an ideology that remains largely untouched. Much work still needs to be done in terms of genuinely controlling the purchase and reuse of items for the purposes of reducing costs (doesn’t this sound a lot like the mantra of “Reuse, Reduce, and Recycle”?).

Asking yourself “Do we really need it?” is actually just asking yourself for validation. It’s far too easy to answer “yes”. Instead, ask yourself the questions above when purchasing – those questions are the path to genuinely meaningful answers. You’ll see – your actions will change! 

Ask your key staff to see if they can track the lifecycle of an asset. Can they do this simply?

Ask your key staff what happened to those old smartphones that were used for, oh, 6 months, before being upgraded? Can the re-use or disposal if these abruptly-obsolete phones be tracked? Or, did they simply get “lost”?

You have to ask these questions. If you don’t, you’ll be wasting vast, untold amounts! Feel free to add any questions that you feel we’ve missed in the comments section below! In the meantime, contact us at Cimpl if you need assistance in managing your IT and telecom assets! We’re Canada’s leader in IT and telecom expense management, and we will help you get the most value from your technological resources!

 Bank Case study on Expense Management


Related articles: 

Topics: IT Assets, Best Practices, Asset management software, Questions

Written by Patricia Turchyn

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