What assets do you own?
What are their current life cycle stages?
How are they supported?
Organizations often subject themselves to wasteful spending that results from ineffective or inadequate management processes related to asset life-cycle management. Corporate IT organizations are responsible not only for the implementation of new technologies that provide their companies a competitive edge, but must also account for the aging technologies that provided that same edge in years past.
As technology assets become dated or too inefficient to meet growing demands, IT organizations must account for the decommission and disposal of aged assets.
A process which must include the management of both the physical and non-physical elements that represent the assets total cost of ownership. Failure to account for the termination of ongoing licensing, maintenance, and subscription services often exposes organizations to significant wasteful spending within their shrinking IT budgets.
As the cycle is repeated, where annuity agreements are not terminated as the asset they are intended to support is disposed, it becomes increasingly difficult for companies to identify valid from invalid agreements related to a specific manufacturer or service provider. As the failure to implement an annuity management strategy persists, a significant percentage of an organization's IT spend is exhausted on annuity agreements that serve no useful purpose to the company’s operation.
ROVE TraX, a vendor-provided annuity management platform, provides customers the visibility required to help clients account for the physical and non-physical assets and annuities present in their corporate compute environments.
ROVE TraX allows customers and their vendors to account for the termination or modification of annuity agreements that must be addressed upon the retirement of the assets in which they support. The ability to efficiently identify these related agreements allow customers to mitigate instances where costly annuities remain in effect beyond their asset’s retirement.
The ability for customers to identify poorly-managed annuities allows them to realign the applied service level agreements to best meet the needs of the particular device throughout its various life-cycle stages. This represents a direct cost-savings impact on the total cost of asset ownership. By implementing a solution to automate the collective management of IT assets and their associated annuity agreements, organizations are able to ensure business efficiency, strengthen customer relationships, “and cut costs up to 50%” according to IAITAM.org, reclaiming a significant portion of the corporate IT budget.