IT Asset Life Cycle Process (ITALC) is a systematic approach to managing/processing IT assets. It is a core process of IT asset Management (ITAM) and encompasses strategies and best practices for optimizing and managing an organization’s IT systems, hardware, and data. Proper practice of IT asset life-cycle involves security, finance, legal, and HR teams, each involved in the following steps planning, deploying, securing, maintaining, analyzing, and then retiring IT assets. ITALC helps enterprises run efficiently, protect organizations from attackers and deliver a strong employee user experience.
ITALC helps increase organizational productivity to make informed decisions on IT needs and services. Better purchasing decisions can be made by looking at life cycle stages and resources.
Stages Of Asset Life-Cycle Process
- Planning:-This is the first stage of maintaining the asset life cycle, which holds the actual purchase of an asset.
- Deployment:-In this stage, all the action takes place before the asset is finally used.
- Utilization/maintenance:-Asset is finally put to good use for which it was purchased. This stage is the longest stage of asset life cycle management.
- Disposal:- Data collected throughout the life of assets will allow leadership to make better decisions. Assets slated for disposal are retrieved or quarantined as needed.
Benefits
- Reduce IT waste and improve asset utilization.
- Reduce workload on HR, IT, and legal through programmatic and automation workflows.
- Better planning for dispositions of IT assets.
- Improve IT employee experience by ensuring assets are better cared for and available when needed.
Effective IT asset life cycle process can extend asset lifespans and reduce the cost to maintain assets throughout their life, and make assets more reliable.
IT asset life cycle process is accurate, simpler, flexible, and easier for organizations to operate and optimize the performance of the asset.
When properly configure and maintained IT assets can bring a greater return on investment and minimize unexpected issues.
If an organization is truly interested in implementing an IT Asset Processing Solution it should have a better understanding of asset life cycles that is an integral part of a preventive maintenance strategy as well as future planning.