Because companies need to develop their programs on the latest machines to satisfy customers with high expectations, software development companies are at the mercy of computer manufacturers and their rapid pace of innovation. An increase in innovation speed has the following effects on an organization:
- Shortening the life of an IT asset
- Increasing the frequency of an asset's lifecycle events
Because developers need to work with the latest tools to create the best product possible, they experience rapid turnover in their hardware. But the 6-month old computer that is obsolete for a developer might be perfectly suited to other functions in the organization. The concept of trickling an asset down the food chain, also called cascading, can be put in place through a proper asset management strategy. Cascading prolongs the life of assets by recycling them in an organization after their initial use. It also increases asset utilization.
As the pace of technological advancement increases, organizations need to keep up by acquiring, moving and disposing of their assets. All those lifecycle events need to be performed by existing personnel. Planning for these operations might be difficult without proper visibility. Investing in an asset management solution helps organizations manage the asset lifecycle more efficiently by giving them the visibility they need on their operations and the material available.