If you’re a CIO, CTO or business owner, you know that boosting your business and bottom line often means implementing new efficiencies, new technology and new innovations. And that also means more money is likely to come out of your budget to get things done. But the good news is that when you invest in the right resources to make progress, you’re setting yourself, your team and your company up to save more money, to avoid wasting time and energy and to free up to-do lists for implementing even more innovative ideas. By automating less strategic tasks and outsourcing business management in several different ways, you can get ahead of competitors and prepare your team for exponential growth in the years ahead.

To bring new benefits to your information technology team, you can apply automation and outsourcing to your current IT lifecycle management and IT asset management practices. Technology is a big investment, but many business leaders don’t realize that managing it should be an even bigger one. If you’re ready to take your technology seriously, you’ll need to understand how all the moving parts come together to create a modern IT environment.

What terms do you need to know? How can you improve your IT management and save time and money? We’ll break down some of the basics to fast track you to better IT.

The IT Asset Lifecycle

An IT asset lifecycle controls the design, development and testing of a business’s technology assets. Lifecycle management lays the groundwork for a streamlined system that encourages efficiency, prevents errors and leads to greater opportunities for innovation.

Whether a business needs custom equipment for internal teams or IoT devices for customers built from scratch, they should follow the five basic steps that make up an organized IT lifecycle.

1. Determine requirements and functionality
2. Obtain stakeholder buy-in and consult IT provider
3. Assess risk and create product plan
4. Generate 3D design and validate features
5. Develop product prototype and test

The IT Asset Management Workflow

An IT asset management workflow combines the people, processes and products needed to manage risk and optimize quality throughout an IT supply chain and links the steps in an IT lifecycle. There are seven components to a complete workflow that are managed by your internal IT team or an experienced IT provider.

• Acquisition: Get your products from a secure supply chain at the negotiated price. With a consistent, transparent and accurate process, you can eliminate errors in order hand-off.
• Technical Services: Obtain assurance that your systems are fully compliant. IT configuration services should be 100% built to your specifications.
• Audit Proofing: Quickly and easily access documents required for corporate and regulatory audits. A provider can capture, manage, label and store your detailed IT asset information.
• Logistics: Know your project is on track. Thorough inspection, packaging and shipping processes can ensure that you receive your product on time and on spec.
• Disposal: Be liability-free. Dispose your e-waste in compliance with regulatory and corporate requirements.
• Lifecycle Management: Seamlessly continue your project through product lifecycles and transition your IT solutions to the next generation.
• Proactive Endpoint Solutions: Streamline and consolidate device management. Secure, control and manage devices, operating systems, and locations through a single asset solution.

IT Asset Management Best Practices

Managing assets, especially when there are many involved, requires teams to follow a few best practices for smooth sailing and zero wasted effort. Below are some to keep in mind and implement in the management of your own IT environment.

Lifecycle Management Best Practices

• Monitor market price fluctuations to prevent surprises
• Acquire products based on a set pricing structure
• Leverage products through OEM-authorized channels
• Catch and fix development stage mistakes early
• Build to specification through ISO and quality assurance processes
• Make projects consistent and compliant
• Stick to timelines and watch market competitiveness
• Gain complete visibility and transparency in all components and processes
• Create open lines of communication to establish expectations and prevent setbacks

Asset Management Best Practices

• Create and update a complete asset inventory
• Determine what constitutes a critical asset
• Manage software licenses to stay compliant
• Keep track of vendors, locations, users and disposal info
• Establish KPIs and regular reporting efforts
• Outsource ongoing IT functions

Benefits of IT Asset Management

There are many reasons why the companies that dominate their market are successful, but one of them is that they know how to manage their technology to better serve their employees and their customers. Leveraging IT asset management tools and the knowledge of top experts is part of this effort and brings countless benefits.

• Improves technology and experiences for end users
• Optimizes and protects critical IT assets and manages ongoing risk
• Leaves more time for continuous innovation and business enablement
• Makes employee’s jobs easier to attract and retain top talent
• Reduces strain on internal IT teams that have greater responsibility
• Boost market competitiveness and encourages easy business scaling

What best practices are you already following? What benefits could you introduce to your business to move the needle forward? This year, make prioritizing the health of your IT infrastructure and your internal IT employees a primary goal to start seeing greater ROI from the tech and tools you use at your company. For information on IT lifecycle and asset management, download the free eBook, Improve Your IT Management: A Quick-Start Guide to IT Lifecycle & Asset Management.

Are you ready to work with a trusted IT partner who knows their stuff? Speak with a team member from Dynamic Computer Corporation today to get started. Call 866-257-2111 or email us at info@dccit.com.