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How to Save Time and Money on Asset Inventory and Tracking

Written by Advantage | Mar 26, 2025 1:00:00 PM

For multilocation enterprises with sprawling infrastructure, managing and tracking IT inventory is as complex as it is essential. 

The good news is that enterprises can streamline their approach to this vital business activity. We share exactly how to do that, outlining specific strategies and tools to make IT asset tracking and inventory more efficient.

4 ways to streamline data entry across the enterprise

Simplify data entry processes by leveraging the following strategies.

Template and form creation

Create standardized data-entry templates and forms by defining key data points to track, and designing a resource with corresponding fields. Establish consistent naming conventions, implement required fields, and make templates user-friendly. 

They should include drop-down menus, checkboxes, and data validation elements to minimize errors.

Mobile data collection

Collect asset inventory data using mobile apps. This strategy enables greater accessibility while increasing real-time visibility and efficiency.

Examples of apps for IT asset tracking and inventory are:

  • Wasp Inventory Control

  • UpKeep

  • NetSuite

Bulk editing and import

Enterprise employees can save tons of time with these functionalities in their asset management software.

Leverage bulk editing to update large amounts of IT asset data quickly and accurately. Select relevant assets, choose which fields to alter (i.e. quantities or tags), then make the desired changes.

Use bulk importing to upload large datasets in one go. Map data fields in a file, format them correctly and then import.

API integrations

Implement API integrations to interconnect applications from databases to Enterprise Resource Planning (ERP) systems. Integrations enable automatic inter-system information updates and data synchronization. 

Teams with unique, ultra complex inventory and tracking systems may need custom API integrations. Setting these up is much more challenging, so it’s best to let an experienced connectivity partner handle them.

Improve the audit process with mobile tools

Mobile solutions simplify and speed up auditing, enhancing efficiency and cost-effectiveness. Use the following to improve IT asset inventory auditing.

Mobile audit tools

Adopt mobile tools with audit functionalities, such as:

  • Asset Panda

  • EZOfficeInventory

  • Ivanti Neurons for ITAM

Capture audit data with mobile devices by:

  • Implementing barcode scanning apps

  • Equipping devices with RFID technology

  • Leveraging mobile GPS tracking

  • Enabling real-time audit updates and analyses via mobile applications

  • Facilitating mobile audit history tracking

Perform audits of remote equipment by:

  • Using software with remote monitoring

  • Scheduling virtual audits

  • Using automated asset discovery and tracking tools

Checklist and workflow automation

Some mobile tools enable standardized audit checklist creation. This functionality quickens the audit process and helps ensure accurate auditing.

To create practical checklists, determine the audit’s objectives and scope. Then, use those determinations to generate checklist items. Finally, organize items in a user-friendly manner.

Mobile tools also offer workflow automation elements, from task coordination to audit history logging. These speed up auditing and cut costs by eliminating tedious tasks and significantly reducing errors. 

Sampling and prioritization

As global enterprises have countless IT assets, auditing every asset isn’t always possible. 

Teams solve this problem by sampling. This method involves auditing a select “sample” of assets and extrapolating findings to the overarching inventory. 

Enterprises select which assets (or categories) to sample through prioritization. This strategy involves determining which assets to audit by weighing asset value and compliance requirements.

How to leverage automated discovery tools

Configure automated scans to optimize efficiency while enhancing security. Adopt innovative discovery tools that automatically scan to discover IT assets. These tools offer other functionalities, from network mapping to change monitoring.

To effectively utilize automated scans, schedule and set discovery rules thoughtfully.

Schedule scans strategically to minimize network impact and prevent overloads. Do this by:

  • Limiting scans per hour and scan duration

  • Setting specific time scan windows outside of peak hours

  • Enabling auto-disable for scans that fail continuously

Discovery rules, or parameters guiding automated discovery tools, ensure scans are as effective as possible. Set discovery rules by defining criteria such as:

  • Targets

  • Discovery methods and protocols

  • Data to collect

  • Exclusions

Develop them according to organizational priorities and compliance requirements. 

Create a centralized knowledge base for inventory management

Create the following to cultivate a single source of truth for IT asset tracking and inventory management information.

Knowledge base 

With a unified knowledge collection, enterprises prevent time waste, ensure consistency, and increase overall productivity. Develop an organized, centralized hub that features:

  • Best practices for IT asset tracking and inventory

  • Policies

  • Guides, templates, and other documentation

  • Relevant IT asset information and data

  • Forums for information sharing

It should also include troubleshooting information, such as FAQs. Create these by collecting common inquiries, constructing clear answers, and categorizing questions. Post them in a user-friendly format on the knowledge base.

Training materials

Clear and concise training materials ensure consistency across large organizations, accountability, and efficient onboarding. Develop videos and interactive tutorials to enhance information retention, employee engagement, and accessibility.

Regular updates

It’s vital to keep documentation, training materials, and all other knowledge base points current. With regular updates, enterprises ensure accuracy and consistency. This streamlines asset tracking and inventory activities while making them more cost-effective.

Conclusion: Save IT resources with streamlined asset tracking

Efficient inventory management is crucial for optimizing IT operations and improving top-to-bottom productivity.

To truly harness the potential of a mobile-first enterprise, meticulous asset and inventory control is non-negotiable. It's the bedrock upon which seamless operations and maximized productivity are built.

By adopting the strategic approaches we've outlined, organizations transform their asset management from a reactive burden to a proactive advantage.

When the objective is to achieve peak performance in your enterprise mobility ecosystem, Advantage provides the specialized expertise and tailored solutions that make that vision a reality. 

Drop us a line so we can start exploring transformative possibilities together.

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