Asset Life Cycle Management

IT asset life-cycle management is a core process of IT asset management(ITAM). As an asset manager, it is important for you to know the stage of life cycle of your assets. ITALM helps increase organizational productivity by helping you make informed decisions on IT needs and services. You can make better purchasing decisions by looking at various resources and their life-cycle stages. If a particular asset is about to retire/expire, and if you already have that asset in your inventory, you have more lead time to order and replenish. If not, you know that the lead time is much less and you will have to raise a PO as soon as possible. Similarly, providing a seamless IT experience is a key metric for a good quality IT service. It is of utmost importance that you as an IT asset manager, know of an asset expiration before the end user does.

Benefits of a good IT asset life cycle management solution:

1. Forecast your needs better
2. Make informed purchasing decisions
3. Be proactive when it comes to replenishing resources
4. Improve the quality of IT services
5. Know the total cost of ownership of an asset