Enterprise and international companies that deploy IT or industrial equipment have a common problem—a lack of visibility into the various lifecycles of their dispersed technology assets. Senior decision makers often don’t know what assets they have, let alone what unnecessary costs they are incurring, nor the impact of those inefficiencies.
Procurement teams across different locations often lose visibility of equipment lifecycles after purchase. This loss of visibility creates gaps between asset management, end-of-life processes, and procurement teams responsible for replenishing those assets when their periods of use come to an end.
What’s missing is a central service management system that brings together technology, financial, geographical, and asset lifecycle information for a unified view of the equipment. New technologies make this possible—no matter the original acquisition methods or financing options leveraged at the start of equipment lifecycles, and no matter the size or complexity of the organization.
A centralized financial and technology lifecycle management platform can streamline procurement processes, help teams monitor asset lifecycles and locations and centralize corresponding financial and contract information with universal transparency. Best of all, digital tools and automated processes that scale mean the more complex the organization, the greater the value of a centralized lifecycle management system.
A centralized financial and technology lifecycle management platform can streamline procurement processes, help teams monitor asset lifecycles and locations and centralize corresponding financial and contract information with universal transparency
As companies grow, they often don’t prioritize visibility even as they procure technologies and supply their expanding locations. They don’t prioritize congruity between financial documents and information about their technologies and the lifecycles of those assets themselves. Finally, they don’t have company-wide tools and best practices to ensure this information is maintained.
A centralized, digital platform can reduce the manual efforts associated with establishing visibility, congruity and best practices across the organization. Software that links financial information—such as contracts, payment information, and lease agreements—and asset management information—such as equipment type, age, efficacy, and location—in a centralized way can open doors to new cost savings and performance improvements.
The caveat to that approach is that the technology must be accessible, scalable, and universal. Decision makers at all levels and locations within the organization must be able to access and update the system, albeit with a governed and roles-based approach. The system must reduce manual efforts to manage lifecycles as well through automating processes, workflows, and integration with other applications.
TESMA® allows decision makers to manage their assets proactively and with predictability. From department leaders to senior executives, decision makers across the organization can access transparent reporting and anticipate future challenges, whether in equipment performance or equipment financing.