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IT Asset Life Cycle Management

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IT Asset Life Cycle Management

IT asset life-cycle management(ITALM) 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. AssetExplorer helps you with various reports and easy-to-understand dashboards for a clear view of all your IT assets and their respective life-cycle stages.

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
IT asset life cycle management

AssetExplorer helps you with:

Procurement

  • Create purchase orders
  • Pre-defined PO workflow
  • Link to cost centres for budgets
  • PO approvals
  • Post-purchase, adding to the assets inventory

Deploy and Discover

  • Deploy the assets and change state from inventory to in-use
  • Discover the assets in the network for software and hardware inventory
  • Allocate software to a hardware asset
  • Add relationship maps

Maintain

  • Schedule scans and get audit history
  • Complete ownership tracking
  • Software compliance and license management
  • Asset depreciation calculations
  • Total cost of ownership of an asset

Support

  • Maintain contracts for assets
  • Notify technicians of expiry dates
  • Identify impact through dependency mapping in CMDB
  • Software license agreements are linked to the software

Retirement and Disposal

  • Change the state of an asset to expired/disposed
  • All the software allocated to the disposed asset will get un-allocated