A repository of acronyms, jargon, and useful words
Application portfolio management tools
Application portfolio management tools typically refer to software that’s designed to discover and keep track of different applications that a company uses for its systems and processes.
Business service mapping
Connection and correlation of assets that meet the needs of a segment of the business that has its own plans, metrics, income and costs. Each business unit owns, implements, and manages assets to create value for customers in the form of goods and services.
Cloud cost optimization
Cloud migration refers to the process of moving digital assets such as data, applications and workloads from on-premises infrastructure or existing cloud environments to a different cloud service provider or cloud platform.
Configuration management database (CMDB)
A configuration management database, or CMDB, is an organization-wide database created as a reference for technology assets, also known as configuration items (CIs), and their contextual relationship information in the IT estate across various business functions. Technology assets typically include hardware and software, but increasingly may include additional hybrid technology.
Data normalization is a systematic approach to refining and structuring raw IT data, transforming it into a consolidated, categorized listing of hardware and software. This process ensures uniformity, accuracy and streamlined IT asset visibility, enabling organizations to derive actionable insights, make informed decisions and maintain a clear view of their IT landscape. It's a cornerstone for achieving optimal IT governance and risk management.
Effective license position (ELP)
End of life (EOL)
End of life (EOL) signifies the predetermined date after which a product will cease to receive full support from its vendor/manufacturer. Recognizing EOL is essential as it indicates the phase where products might become outdated, potentially posing security and operational risks. It's a critical milestone in the lifecycle of IT products, impacting both strategic planning and operational efficiency.
End of support (EOS)
End of support (EOS) marks the designated date when all formal support for a product by its vendor/manufacturer concludes. It’s the final stage of a product’s lifecycle, and it can expose organizations to vulnerabilities, inefficiencies and potential compliance issues, underscoring the importance of proactive IT management. EOS is also sometimes referred to as end of service.
FinOps is the practice of optimizing cloud costs through collaboration between finance, operations and engineering teams. FinOps helps organizations manage cloud spending effectively, aligning spend with business goals and optimizing resource allocation.
IT asset management (ITAM)
IT asset management workflow
IT governance frameworks
IT governance frameworks are established sets of guidelines, best practices and standards that can be used to design, implement and manage IT governance. When applied with the right IT asset management solutions IT governance frameworks can help organizations reduce risks, optimize strategies and enhance performance.
IT versus OT
IT and OT are two important technological components of any organization. While they seem similar, especially in how they benefit operations, there are some key differences between the two.
IT visibility is the ability to have a comprehensive, real-time insight into an organization's entire IT estate. This encompasses everything from traditional on-premises hardware and software to cloud-based services, applications and the vast array of interconnected devices known as the Internet of Things (IoT). This clarity ensures that businesses can proactively manage, optimize and secure their IT resources, fostering informed decision making, risk mitigation and strategic alignment with business goals.
Software asset management
Software vulnerability refers to a weakness or flaw within a software application that can be exploited by malicious actors to compromise the confidentiality, integrity or availability of the system, data or network on which it operates.
Technology value optimization
Technology value optimization (TVO) involves increasing the return and reducing the cost of information technology (IT) costs. This requires fueling better-informed, data-driven decisions and proactive management of spend and risk to maximize value from technology investments.