What is Technology Portfolio Management?

According to KPMG's major IT research, the percentage of companies increasing their technology investments has reached the highest level in the last 15 years. Research results showed that 54 percent of CIOs increased their budgets in 2019. In addition, according to another research, 59% of technology leaders state that the pandemic accelerated the digital transformation of the company.

In line with the information above, we observe that the technology inventories of companies grow over time. Companies need a monitoring and control process to maximize the efficiency they get from these technology investments. Here we meet "technology portfolio management".

What is Technology Portfolio Management?

Technology portfolio management (IT asset management) is the process of monitoring and managing technology assets owned by companies throughout their lifecycle. Technology portfolio management begins with the acquisition of technology and continues until the asset is disposed of. It shows the efficiency and benefits that companies' IT budget affects the company.

Steps of Technology Portfolio Management

Creating of the technology inventory.

Within the scope of technology portfolio management, companies first detect cloud servers, software, computers, printers, firewalls, virtual machines, systems and integrations and build an inventory containing detailed information. The process of creating an inventory is critical for the effective management of technology assets. All company employees must take an active role in the inventory creation process.

Detailing the technology inventory.

After all IT assets are fully recorded, necessary information about these IT assets must be collected. Detailing information about these assets provides information that will increase the company's IT efficiency and optimize their budgets. The following information is collected within the scope of companies technology portfolio management.

• Purchase date of assets
• Cost of assets
• Locations of assets
• Employees and departments using assets
• Supplier of assets
• License and maintenance dates of assets

Shaping technology the investments.

Technology portfolio management is actually more than an inventory. At the end of the day, companies aim to optimize their IT structure with this. As a result of IT portfolio management, companies can obtain data and insight that will shape their IT investments.

In this process, technology assets are analyzed along with their IT value and costs. After determining the needs and priorities on the IT side, companies should get rid of unnecessary assets and invest in their needs with the budget they increase.

How can Companies Manage Their Technology Portfolio?

Firms first began managing their IT assets with spreadsheets. Although the management of IT assets with spreadsheets is useful to a certain extent, it has lost its function over time. The biggest reason behind this is the growth and complexity of companies' IT structures. In addition, not determining a single management center in the ITAM process causes many errors to occur.

Technology Portfolio Management Software

Technology portfolio management software, also known as IT asset management software, enables all IT assets to be managed from a single platform throughout their lifecycle. Loggle is an IT asset management software and offers application management, hardware management, integration management and IT cost management modules.

Loggle, an easy-to-use solution, offers an end-to-end solution to the needs of companies in IT asset management processes. With the reports it offers, Loggle increases the IT visibility of companies and provides insights that will shape their IT investments.