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10 IT Lifecycle Management Benefits of Digital Transformation

IT lifecycle management

For most enterprises, digital transformation is too complex to handle alone—88% rely on third-party providers for IT lifecycle management. Despite this drawback, organizations are making their tech-savvy transformations more rapidly than ever. Why?

What’s All the IT Lifecycle Management Fuss About?

It’s still early, but thus far the evidence for enterprises that have undertaken digital transformation is encouraging. After reorganizing operations and successfully changing company culture, here are 10 IT lifecycle management benefits businesses can expect:

Reduced Costs – Optimizing enterprise technology and efficiency around digital technology means cost-per-transaction savings and increased sales.

Improved Customer Strategy – New technologies create IT lifecycle management capabilities that can help an organization acquire, retain and assist customers while simultaneously reducing marketing spend.

Consolidated Operations – The introduction of cost-effective, customer-focused digital tasks streamlines business workflows and eliminates overhead associated with outdated IT lifecycle management solutions.

Analytics – Digitalization gives companies the ability to combine data from all customer interactions and formerly unstructured sources into a useful, actionable format to optimize customer experiences and expenses.

More Customer-Centric Focus – Digital transformation’s main concern is using technology to enhance the customer experience. By shifting focus and paying more attention to what customers want, service is improved consistently across all touchpoints and channels.

New Products/Services – With this new, customer-centric focus, an enterprise is better equipped than ever before to adapt to its customers and the competitive industry landscape.

Accurate Market Segmentation – New technology enables businesses to discover more adaptive and agile IT lifecycle management models based on customer parameters that were impossible to uncover and/or track in the past.

Improved Silos – Identifying IT lifecycle management silos that span multiple functions and processes becomes much easier, allowing an organization to increase its efficiency and impact.

Universal Customer Experience – Connecting enterprise-wide IT lifecycle management systems and technologies simplifies and universalizes the customer experience, regardless of when, where or how they choose to interact with a brand.

Increased Agility and Innovation – By eliminating the dependence on slow legacy IT lifecycle management systems, transformed businesses make themselves nimbler and more responsive to current market trends and demands.

Making Digital Transformation a Success

While each organization leverages its technology differently, there are a few universal keys to making the most of digital transformation. Here are three things your company needs to focus on when making changes:

Connecting Old and New Technology – Digital innovation can only be as effective as the rest of your technology allows it to be, so understanding current IT lifecycle management workflows and how technology impacts them is critical. Review operating model differences and their speeds, agility, fluidity and customer involvement ahead of time to prevent problems from occurring down the road. Don’t let past Enterprise Technology Management (ETM) investments or failures affect future adoption.

Establishing a New Culture – Making sure your IT lifecycle management is ready for the digital age is great, but transformation falls flat if employees don’t believe in it. A workforce needs appropriate training and continuous learning opportunities to cultivate the knowledge and skills necessary for maximizing digital transformation’s impact. Start by making changes to critical processes that link legacy ETM systems to new ones.

Fostering Collaboration – During your transition, the coexistence of two different IT lifecycle management models has the potential to bog down operations and bring decision-making into question. These negatives only get worse without open lines of communication. Organizational leaders should communicate clear expectations regarding employee responsibility and accountability on a continuous basis to minimize disruptions.

As more and more companies transform themselves, new IT lifecycle management methodologies are exciting to think about. Digital transformation has the potential to revolutionize industries, so don’t be afraid to think outside the box and try something new. Need an ETM partner to help transform your company? Talk to one of Tangoe’s global technology experts!