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Maintaining your IT assets is a hugely under-appreciated business need that can cause headaches, outages and unnecessary costs if you are not proactive and manage your business needs properly with intelligent solutions. In particular, for investment or asset-intensive companies, enabling in-house asset lifecycle management can have a large impact on your bottom line, affecting the cost of ownership, as the workload for a multitude of technological systems can become quite vast.
Often, the biggest challenge for organisations when it comes to their IT assets is effectively managing a large number of technology components across the business to ensure they have reliability and are getting the most from it. Each product, like software and software assets, master data management, tools, and storage, has a lifecycle and so effective product life cycle management ensures optimized profits generated throughout from purchase till final use. Knowing where a particular product is in its lifecycle process at any given moment, and whether it’s providing enough value to your business, is the key. Knowing the current state of an asset allows you to intelligently plan for replacements, updates, and changes in an asset’s lifecycle.
Knowing where a particular product is in its lifecycle process at any given moment, and whether it’s providing enough value to your business, is the key. Knowing the current state of an asset allows you to intelligently plan for replacements, updates, and changes in an asset’s lifecycle.
To understand the IT product life cycle, one must first learn what the life cycle is. The process begins with the planning stage, next comes the acquisition of technology and finally, deployment of the technology. When project execution takes place, the technology has now become usable. After the technology becomes usable, certain things determine its life expectancy. These variables include: how the technology is being used, what your business is (how often it gets used) and what type of service and maintenance is being performed on the technology. The technology life cycle process can be extended by regular maintenance operations, updating the software used, and upgrading components.
Once the technology is coming to the end of its life cycle, the process begins to replace, decommission the tech and salvage what can be salvaged. These solutions mean that operations can continue even if some components are not working as well. There is an increase in risk to the organisation. Maintenance costs can skyrocket, software applications, security and compliance must be kept up to date.
In Perth, TechBrain’s expert asset lifecycle management services address all stages of an asset’s lifecycle process, regardless of industry, scale, or scope. At TechBrain, we draw upon our exceptional team that has decades of experience, both locally and around the world, to ensure that your business technology needs are met by helping you garner an optimal return on your asset base, and giving you the best solutions to your IT lifecycle management.
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