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Why is IT Asset Inventory Management Critical?

  • Security Processes

📅 January 18, 2022

⏱️2 min read

In the digital age, it's pretty hard to keep up with the many devices that we use daily. Most companies have embraced the digital push, yet, they fail to put the best practices to protect these assets. The assets we're referring to are the workstations, laptops, and servers that the organisation uses to automate business processes.

Asset inventory management is a crucial aspect of a company's functioning. This is why it's important to know what assets the company possesses. Because if you don't know what your company has, how are you going to protect it? In this article, we'll delve into why IT asset inventory management is essential.

Risks of Poor Asset Inventory Management

Cybersecurity is of utmost importance for optimal business functioning, yet, it's one of the most ignored aspects of a business. With data breaches and scams becoming common, all security measures must be put in place.

When asset inventory is not managed well or accounted for, it becomes hard to track which devices and servers need protection.

It creates gaps and leaves these networks vulnerable to any potential cyberattack. Such attacks hold up business operations, cost you thousands of dollars, and ruin your company's reputation in the long run.

Why is IT Asset Inventory Management Critical?

IT asset inventory management is one of the foremost control measures recommended by the Centre for Internet Security (CIS). It increases the company's accountability and protects its assets in due course. In the case of a cybersecurity attack, how do you know which devices to scan for malware? You can only find out if you know what devices are covered under the company's asset inventory.

Since most businesses are continually starting new projects and adapting the way they work, it means that more devices are added with time. Without periodic checks, it'll be hard to track potential attacks and prevent them.

Accurate IT asset inventory management also ensures that all devices are updated with the latest firmware protection. With cloud services becoming commonplace, it's also important to note that asset inventory is not limited to physical spaces. Servers and services in the cloud warrant their own periodic security evaluation.

By doing so, the IT team can account for what belongs to their network and what doesn't. The finance team can account for all the resulting business expenses from the use of such technologies. The best suggestions are to evaluate and validate your asset inventory regularly.

A Worthy Investment

IT asset inventory management is essential for efficient and safe business performance. If they are not monitored, it could lead to severe losses, financially and otherwise. It helps with vulnerability monitoring and security enforcement which provide an accurate picture of the company's security defences. All these measures help us identify problems in real-time and deal with them with ease.

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