Asset lifecycle management allows the IT department to improve governance, mitigate risk and improve service quality and efficiency.
Without an investment in IT asset lifecycle management people, process and technology,
there is no way you can credibly answer questions about the IT assets of your organization.
IT departments need information on what assets they have, where they are, who is using them,
the services they support, what they cost and how they are configured.
They must also be able to ascertain whether the business is compliant, the value the
IT assets deliver and whether the company is fully exploiting its IT assets.
Asset management provides the organisation with information on how IT funds are invested and how these investments are performing.
This not only helps with running current projects but can make it easier to fund new ones. IT organisations can use this intelligence to improve total cost of ownership (TCO ) by continuously reducing IT asset costs throughout their lifecycle.
Moreover, IT asset lifecycle management allows IT managers to take a service-centric approach to IT management decisions that can result in additional savings by scaling back or fully removing low value services altogether.