Effective management of IT assets in a remote work environment

The shift to remote work during the pandemic led many employees to take their work equipment home, with some assets left unattended or never returned even after the pandemic ended. While remote work offers advantages to businesses, it also comes with costs like IT asset loss and potential data breaches. In response, IT Asset Management teams have taken on a critical role in ensuring secure onboarding, off-boarding, compliance, and security while supporting productive remote work.

Handling device logistics, security protocols, network vulnerabilities, and asset retirement presents challenges for IT asset managers in remote work setups. Employers, on the other hand, also face challenges in monitoring the status and conditions of IT assets, with studies indicating that approximately 75% of organizations struggle with IT asset management in remote setups. As this new trend grows, so does the need for digital asset management solutions.

In this article, you will learn about the challenges and opportunities with the rise of remote work, along with strategies and technologies for effective IT asset management in remote environments.
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Key Takeaways
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• Remote work IT asset management (RAM): With remote work surging, 75% of organizations  with managing their IT assets.
• Expected growth in digital asset management market: Expected to reach USD 11.3 billion by 2030, reflecting the rising demand.
• Advantages of effective IT asset management: Crucial for saving costs, promoting environmental sustainability, and aligning with cybersecurity.
• Significance of IoT and cloud computing: Driving market expansion and optimizing asset lifecycle in remote IT asset management.
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Read more: What Happens to My Work Computer When I Stop Using it and Return it to IT?

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Remote IT Assets Management (RAM)

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Effective asset management helps avoid unnecessary costs and addresses environmental concerns related to improper disposal of assets. Not having proper strategies set up around remote IT asset management increases IT operational challenges, security breaches, and compliance issues for businesses. Employee mobility, turnover, inventory management complexities and delayed recycling further add to the problem.

One major concern for IT Asset Management (ITAM) is the lack of alignment with cybersecurity. Gartner emphasizes the importance of cohesive strategies where various teams collaborate to manage assets effectively. This approach helps prevent mismanagement and reduces the risk of misplaced assets, addressing significant limitations for organizations in aligning with their IT security teams (1).

Remote IT asset management systems are software solutions that enable organizations to remotely monitor, track, and maintain their IT assets from any location. These systems provide features such as asset inventory management, remote monitoring, software license management, and security enhancements to streamline IT asset management processes.

Research firm Markets and Markets anticipates that the remote asset management market will grow from $16.5 billion in 2020 to $32.6 billion by 2025 at a compound annual growth rate of 14.6 percent.

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IoT & Cloud in remote IT asset Management

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IoT, cloud computing, and imaging enable organizations to use remote IT asset management solutions more rapidly and smoothly. The significance of IoT in remote work is apparent, due to the projected increase in connected devices in future. Consequently, there will be a corresponding surge in the need for remote asset management systems. With the rise of remote work, managing IT assets remotely has become crucial for businesses to ensure efficiency and compliance. 

The research firm also suggests that the factors driving the market are adopting IoT-enabled solutions, decreasing cost of such IoT technologies and using predictive maintenance. Together, these technologies can reduce the operational costs of managing remote assets and optimize the asset life cycle.
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IT assets management in remote work

To overcome the challenges of managing IT assets in remote environments, businesses can implement several effective best practices and strategies:
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• Establish clear policies: Define transparent guidelines for acquiring, using, and retiring IT assets in remote environments.
• Use asset tracking tools: Employ asset management software to monitor inventory, usage, and maintenance remotely.
• Conduct regular audits: Ensure compliance with security standards and regulations through periodic audits.
• Provide employee training: Educate remote workers on IT asset management practices and security protocols.
• Promote collaboration: Facilitate coordination between IT, HR, and procurement departments to streamline asset management processes.
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Cloud-based IT asset management solutions offer real-time tracking and management capabilities, leading to cost savings and operational efficiency. Organizations leveraging these solutions experience a 25% reduction in asset management costs, according to IDC. By embracing technology, businesses can enhance visibility, optimize resources, and support remote teams effectively while ensuring compliance with security protocols.

Cybersecurity in IT asset management

With employees increasingly using personal devices or having greater control over company-issued hardware, the role of cybersecurity has become more critical than ever. However, far from being a hindrance, cybersecurity in the context of employee-controlled hardware can be a powerful enabler of productivity, innovation, and employee empowerment. 

IBM’s latest Cost of a Data Breach Report found that businesses with a well-designed incident response plan decreased data breach damage costs by 61%, paying over $2.6 million less than the global average.

Secure technologies empower employees to work from anywhere safely, fostering a culture of responsibility and accountability. Prioritizing cybersecurity enhances trust and credibility, strengthening the organization's reputation while facilitating innovation and business growth. Implementing encryption, multi-factor authentication, and endpoint security solutions mitigate risks effectively.

Effectively managing IT assets in remote work environments is critical for organizational success. By implementing best practices, leveraging technology solutions, and prioritizing security, businesses can optimize resources and support remote teams effectively. Remote Work IT Asset Management not only enhances productivity but also ensures resilience in the face of evolving workplace dynamics.
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Velory: Your Partner for Remote IT Asset Management

Velory assists organizations in monitoring all their IT assets, regardless of the geographical locations of their employees. Interested in enhancing the security of your remote assets? Schedule a demo to learn more.

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