7 Tips to Drive Efficiency Through Asset Lifecycle Management

IT departments can mitigate risks through a proactive approach to infrastructure procurement, maintenance and disposal -- it's a methodology known as IT Asset Lifecycle Management

IT managers know that businesses run on IT. So when an IT asset fails, a part of the business fails. Sometimes it can be a relatively low-impact failure, like a print server crashing. IT asset failure has a much more profound impact that causes lost revenue, regulatory violations and reputation damage.

IT departments can mitigate risks associated with IT assets through a proactive approach to infrastructure procurement, maintenance and disposal – it's a methodology known as "IT Asset Lifecycle Management." By effectively managing the entire lifecycle of IT assets, from evaluation through procurement, ongoing management and disposal, organizations can ensure their IT infrastructure efficiently and cost-effectively delivers the capabilities and performance the business requires.

Here are seven tips to consider when evaluating a lifecycle management program:

  • Stay vigilant. Regular assessments that monitor the impact of new technology, usage of existing assets, and shifting cost structures will provide the information required to maintain IT asset lifecycle management best practices.
  • Invest in extended warranties. While extended warranties or maintenance agreements have their pros and cons, they prevent unexpected expenditures and make budgeting more predictable. IT departments should consider purchasing them when they are buying new equipment.
  • Train employees. Teaching employees to use IT assets, including new applications or new versions of existing applications and printers, reduces help desk calls and optimizes worker productivity.
  • Minimize waste. Look for opportunities to rationalize and consolidate IT assets by consolidating underutilized servers and printers and eliminating unused software licenses. Recycle replaced desktops and PCs by redeploying them to other parts of the organization with lower computing requirements.
  • Understand true costs. Knowing how much it costs to purchase and maintain IT assets only provides a partial picture of total costs. Factoring in costs such as gains or losses in employee productivity, overhead costs and reductions in supply costs will provide an accurate view of true IT asset costs.
  • Data Security. It's important to be mindful of sensitive data on IT assets during disposition or reallocation. As a result, it's critical to have a solid process for thoroughly wiping this data prior to the asset's redistribution.
  • Environmental Impact. At a certain point, it becomes necessary to discard certain IT assets. Regardless of the way you do so (incineration, shredding, precious metal reclamation), make sure the process is environmentally friendly and the vendor has all necessary certifications.

In addition to reducing risk, a comprehensive IT asset lifecycle management program can help reduce costs and improve productivity. Proactively managing everything from employees' PCs to the data center can eliminate problems before they happen and extend the useful life of assets. This ultimately helps drive business momentum and profitability.

Does your business have plans to take advantage of a lifecycle management program? Read this list to get more information