You may be unaware of how much money you’re wasting by not having an IT hardware asset register (or least an updated register).

The points below will highlight how the audit results can reduce your operating costs.

1. Warranty – An accurate asset register will provide you with the correct volume of equipment. This data can be used for warranties and managing the costs involves.

• Reduced warranty costs by not buying warranties for kit not being used
• Reduced repair costs by buying warranties for kit that is being used

2. Have the choice of replacing equipment after ‘x’ number of years (warranty costs of hardware over 4/5 years increases).

• Reduced downtime due to failure or malfunction of older kit
• Reduced warranty costs by dispensing of old equipment
• Reduced repair costs (for kit that has to be repaired but it out of warranty/had no warranty)

3. Regular auditing deters staff theft, and can be used to identify staff theft (multiple assets to the same individual).

• Reduced costs of replacing stolen equipment

4. Prevents double-purchasing – why buy another printer for department ‘x’ when there is a spare in department ‘y’.

• Reduced cost of buying equipment

5. PAT testing costs are more accurate.

• Reduced the cost of PAT testing on equipment that is no longer

6. Accurate asset register allows you to plan future budgets and plan peaks of spend. Be aware when all the kit is going to go ‘end of life’ at the same time.

• Reduced expenditure by buying in bulk
• Reduced risk of a large value replacement programme being refused

7. Accurate asset register helps with software licensing costs.

• Reduced cost of licensing software for equipment that is not being used

8. Accurate equipment value to aid insurance costs – accurate asset register will help if there was a burglary

• Reduced premium/ claims loss by not over-insuring which could reduce claim paid

9. Updated renewal costs of 3^rd party support

• Reduced costs associated with support as accurate inventory in place

10. Can be used to reconcile with a logical audit

11. Identify older assets for maintenance purposes

• Cleaning of older IT hardware can extend operating life span and reduce operating temperature

12. Legally required to track all assets

• Legal requirement

13. Accurate deprecation of tax and insurance purposes

• Reduce risk of HMRC audit

14. Identify leased equipment

• Accurate leasing charges by only paying for correct leased items

15. Identify items to recover when an employee leaves

• Save money on replacing kit

Hardware Auditing
What is Hardware Auditing? Hardware Asset Management & Inventory

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