Maintaining an IT asset inventory serves multiple purposes, primarily facilitating effective management and control of an organization’s technology assets. It provides visibility into all hardware and software resources, which aids in compliance with licensing and regulatory requirements. Having an up-to-date inventory allows organizations to track the lifecycle of each asset, helping with budgeting, planning for upgrades, and ensuring cybersecurity measures are applied. Additionally, an accurate inventory can lead to improved resource allocation and increased operational efficiency by identifying underutilized assets.