Asset Management that Aligns IT with Business

BizLogix Asset Management solutions establish effective Asset Management practices aided by optimal tools enabling IT organizations to manage IT costs, ensure contract compliance and improve vendor management. Compliance to regulations such as Sarbanes-Oxley (SOX) is greatly facilitated by a unified asset repository and consistently followed Asset Management processes. Moreover, the typical chasm that exists between the financial tracking of assets by Finance groups for taxation, capitalization, depreciation and charge-back purposes and the actual IT environment is bridged by proper management of assets thereby bringing about a great degree of IT-Business alignment.

Customer Challenges

Discrepancies between financial records for assets and the actual IT environment of software, hardware and network components cause misplaced servers, laptops, desktops and other hardware assets, poor decision making on asset acquisition, taxation to wrong departments, and inefficient vendor negotiation – all of these leading to unnecessarily inflated costs of IT operations.

Informal, irregular and inefficient asset inventory practices cause delay and inaccuracy in critical asset reporting. This situation is exacerbated by custom tools for narrow asset types or departmental tools for selected Asset Management needs creating silo asset inventories.

Poor Asset Management practices and lack of mature and complete asset inventories expose the organization to software licensing violation and non-compliance of critical regulations such as SOX.

BizLogix Results

Asset Management Process Aligning IT and Business

A holistic, corporate-wide process for total asset life-cycle (Procurement, Production and Administration, Transfer and/or Repurposing, and Retirement) and more effective communication across the parties dealing with IT assets regularly (Corporate Finance, IT Finance, IT Management, Procurement Departments, and IT Administrators) guarantee better alignment between operational and financial tracking of IT assets.

Common Asset Repository for IT and Business

Automated inventory tracking of hardware, software and network assets, integration of all asset data into a centralized repository, and reconciliation with financial records ensure accuracy, currency, and completeness of asset information allow on-demand, real-time asset reporting. This empowers IT and Business alike to make more optimal and timely decisions about asset acquisition, transfer and retirement.

Efficient Cost Management

The common process and tools ensure accurate tax allocations for assets across departments, reduction of misplaced assets, and better vendor negotiations.

Contractual and Regulatory Compliance

Tracking of critical dates in the asset life-cycle and automated notification to stakeholders improve compliance to licensing contracts and SOX regulations.

Continuous Improvement

Tracking and publishing of metrics related to customer satisfaction, cost and process efficiency ensures the journey towards continuous improvement.