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Imagine if your company's server suddenly stopped working. Everything would come to a halt. Without a backup server and a solid plan, it could take days or even weeks to get back online.During that downtime, you're losing money every hour.How can companies prevent such costly incidents?Quality IT providers and internal IT departments use a strategy known as IT Asset Lifecycle Management to anticipate declining hardware and plan for its replacement.WEBIT Services has been developing IT strategies, procuring equipment, and deploying technology for over 25 years for hundreds of clients in the greater Chicago area.By the end of this article, you'll understand what IT Asset Lifecycle Management is, how it works, and the impact it can have on your business – either positively or negatively if not done right.
IT Asset Lifecycle Management (ITAM) is a strategic approach to managing IT by knowing when to replace hardware and software.Your IT provider or internal IT department should know your organization's every IT asset in use, its age, and when it needs to be replaced. The idea is to replace hardware or software before it becomes problematic or obsolete.
Computers typically have a lifespan of 3-5 years. Technically, you can use a computer for over five years.But will it work well beyond that point?More than likely, an older computer will be slow, unreliable, glitchy, and incompatible with new software updates or applications.Even well-maintained computers will struggle after five years due to environmental factors. Moisture, heat, and dust contribute to the breakdown of electronic components.Turning on a device generates heat, while turning it off gradually cools it. This constant change between hot and cold can cause parts inside the hardware to bend or bubble over time. Eventually, either the part or the hardware will need replacing.Moreover, the technology industry operates on a "planned obsolescence" model, making older technology incompatible with new advancements.
IT Asset Lifecycle Management is a crucial part of your IT Roadmap – the short and long-term plans for your organization's IT.When you onboard with an IT provider, they assess your current setup during onboarding.They will record the age and use of your equipment and then recommend replacement dates. This information and budget considerations are added to your IT roadmap for effective future planning.
Your IT provider or internal IT team recommends hardware or software within budget that meets your company’s needs or requirements.For example, if you need a new computer for video editing, your IT team will research which computer models can perform the required tasks. Once they have narrowed down a list, they will present a proposal.If the proposal is accepted, the new device is purchased and prepared for delivery to your location.
After an inspection, the required files and software are installed on the new hardware. Once the asset is ready for use, it is delivered to the office location or user.As soon as you receive the asset, it is plug-and-play ready.This process is known as technology deployment.
The asset is actively used for its intended purpose, with performance monitored for efficiency.Utilization is the longest phase of the hardware’s lifecycle. This is the stage where the hardware is used for its intended purpose.During this stage, asset updates and performance will be monitored to ensure it is performing well and aiding productivity.
As hardware is used, it develops wear and tear and requires more attention and maintenance.Modern technology is also created with planned obsolescence in mind. Planned obsolescence, in conjunction with Moore’s Law, dictates the effective lifespan of technology.Moore’s Law anticipates that computing power doubles every two years. Because manufacturers and developers know this, they plan for hardware to have a lifespan of 3-5 years.Planned obsolescence means that older hardware can’t accommodate newer software updates. Newer updates are made for faster components not found in outdated hardware.The combination of wear-and-tear and planned obsolescence eventually brings a computer to the end of its productive lifespan.There comes a point where it's more costly to keep and service older technology than it is to invest in new technology.
Once an asset is no longer productive, it's marked for disposal, and data is wiped according to the environmental laws of the area.
If your IT provider is proactive and has a solid IT roadmap, ITAM will be essential to your IT strategy.The benefits of good ITAM include:
Reliable technology leads to fewer interruptions, delays, and lost files. Replacing computers before they decline ensures smooth operations.
ITAM helps plan for your company's growth, determining the technology needed to accommodate a larger workforce.
A well-planned ITAM allows for setting and scheduling your IT budget, avoiding surprises.
Potential issues arise if the initial IT roadmap and ITAM are created without considering the business's needs and anticipated growth. Unaccounted assets, unnecessary recommendations, and poor planning can lead to complications.If any assets are unaccounted for, this presents a problem. For ITAM to work well, all assets must be identified. Without every asset identified, there are wildcards at play that your provider did not know existed or know to plan for.If your IT provider is more worried about selling you equipment than meeting your needs, this will cause complications and poor ITAM. If your provider recommends equipment you do not need, this presents unnecessary costs, resources, and frustration.Ideally, the equipment in ITAM will match your needs with no redundant hardware or software. Everything aids in productivity.If ITAM is not set or followed, you will face failing equipment. In a mild case, this causes frustration due to slow loading speeds, glitches, and unpredictability. In extreme cases, a vital hardware piece crashes, and your business is shut down for days or weeks as you wait for a replacement.ITAM challenges can be attributed to a lack of knowledge or lack of commitment to the plan for asset use, replacement, and budgeting.
IT Asset Lifecycle Management (ITAM) is the process of identifying technology assets, understanding their lifecycles, and planning replacements for efficiency.When done correctly, ITAM improves productivity, aids growth, and helps manage your IT budget. However, it requires a quality IT provider and a comprehensive IT roadmap.If executed poorly, reactive ITAM can lead to frustrations in the very areas it’s designed to help. Therefore, it’s important to be matched with a quality IT provider and a thorough IT roadmap for your business.If you are curious about how ITAM is helping your organization, talk to your IT provider and review your IT roadmap. If you do not have an IT roadmap or ITAM plan, it might be time to look for a new IT provider.For over 25 years, WEBIT Services has helped clients in the greater Chicago area develop and follow solid IT strategies, including IT Asset Lifecycle Management.If you are looking for a new IT provider, schedule a free 30-minute consultation to see if WEBIT Service can help you and your organization.If you’re not ready to commit to a new IT provider but would like to learn more about technology replacement, we recommend the following articles:
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