Asset lifecycle management is the process of increasing organizational productivity by helping them make informed decisions on IT needs and services. IT teams can make better purchasing decisions by looking at various assets and their lifecycle stages. If a particular asset is about to expire, and if it's already in the inventory, teams will have more lead time to order and replenish. Similarly, providing a seamless experience is a crucial metric for good quality IT service. IT asset managers must know of an asset expiration before the end-user does.
A better asset lifecycle management solution helps you with holistic reports and comprehensible dashboards for a clear view of all IT assets and their respective lifecycle stages. It can forecast your needs better, enable teams to make informed purchase decisions, help managers proactively replenish resources, improve the quality of IT services, and also provide insights into the total cost of ownership (TCOW) of an asset.