It's an interesting fact that most businesses don't know how much they spend on tech.
At the same time - business owners are frustrated with how much they have to spend on their tech.
Strange combo isn’t it?
More often than not this frustration is based on spending money when something is broken.
Enter the concept of Lifecycle Management.
So what is Lifecycle Management?
Well, it's managing all of the hardware, software, services, and resources that make up your tech.
All of these items have associated costs.
They have a cost for acquisition.
They have a cost to maintain.
They have a cost to replace.
Understanding these costs and their place on your Profit and Loss Statement is critical to your business.
It’s critical to your growth.
It will help you get your arms around unplanned expenses.
If you can budget for them even better.
So next time you're thinking about your company road map.
Don't forget about the tech in your business.
It needs to grow.
It needs care and feeding.
It needs to be maintained.
It needs to be replaced.
Understanding your tech Lifecycle is key if you want to have a road map.
Need help getting your Lifecycle Management in order?
Shoot me an email.