The Client: Goldman Sachs
Goldman Sachs is one of the premiere investment banking firms in the world, with offices at 13 locations in the United States and 11 offices throughout Europe and Asia. They employ more than 17,500 professionals, have 150,000 assets, and serve a client list that includes most of the world’s top corporations.
The Challenge
Goldman Sachs recognized the inefficiency of decentralized asset management and was convinced it could save a significant amount on its IT budget if it just had an accurate inventory of hardware and software throughout the system. They needed an accurate valuation and a plan for redeployment of assets when staffing changes affected asset assignments.
The Solution
The project for Asset Inventories included two stages: the initial inventory for valuation purposes, and an ongoing system for maintaining the inventory as people were reassigned, new hires and equipment were added to the system, and existing assets were redeployed to users who needed them.
The latter project became the model for a “cascading assets” tracking and reporting system that ensures optimal utilization of IT hardware and software, with a dramatic reduction in out-of-pocket expenditures on new equipment each year.
Working with a third-party service provider and Asset Inventories, Goldman Sachs is perhaps the most advanced user of the “Cascading Assets” inventory maintenance model and considers it as an integral component of the IT infrastructure supporting the company’s mission.
Testimonials
Cascading Assets has proven to be a real benefit for Goldman Sachs, as well as other clients. It’s a natural by-product of the inventory process, and we didn’t recognize at first how truly valuable it could be. Now it has become such an important element of the service we provide that it has become a standard way of managing IT assets after the initial inventory.M.L., AI Senior Executive after setting up the “Cascading Assets” tracking system at Goldman Sachs
