Glossary
A repository of acronyms, jargon, and useful words
Application packaging
The process used to get software onto devices of relevant users with ease. This involves creating a package of files for each type or piece of software that a company uses.
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.
Benefits of application portfolio management
Application portfolio management reduces the complexities of your information technology asset management (ITAM) processes, simplifying the entire management process by identifying and removing unnecessary applications from your IT infrastructure.
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 cost optimization refers to the process of efficiently managing and reducing the expenses associated with using cloud computing resources.
Cloud migration
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.
Cyber security assessment and management
Cyber Security Assessment and Management (CSAM) involves a range of practices and strategies, all aimed at protecting an organization's digital assets from various cyber threats. As organizations delve deeper into the digital realm, understanding and implementing effective CSAM practices is crucial for their security, efficiency and overall success.
Data normalization
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)
Effective license position (ELP): A reconciliation of your current license entitlement against your current software consumption.
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.
Enterprise IT infrastructure components
‘Enterprise IT’ refers to the structures and services designed for the operation of large-scale business. For large companies, understanding the components of enterprise IT infrastructure is like studying a blueprint for their digital success.
FinOps
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.
ITAM versus CMDB
ITAM and CMDB are important services for managing IT assets in an organization. They offer critical details about your company’s IT assets. Each service serves a specific purpose and offers unique value to an enterprise.
ITAM versus ITOM
IT Asset Management (ITAM) is responsible for tracking and managing IT assets, and IT Operations (ITOM) deals with the processes required for maintaining and delivering IT services. Understanding the roles and interactions of these two structures is a key strategic advantage in a technology-driven market.
IT asset management (ITAM)
The end-to-end tracking and management of IT assets to ensure that every asset is properly used, maintained, upgraded and disposed of at the end of its lifecycle.
IT asset management process flowchart
An information management (IT) process flowchart is a strategic outline of what is in your IT infrastructure, how it’s being utilized and what needs to be retired. This flowchart helps streamline your IT assets, improve their operational efficiency and control their costs.
IT asset management workflow
The process of digitizing all asset management tasks so that operators and users can manage all of their assets and IT processes in a single platform.
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 modernization strategies
IT modernization involves a wide range of tasks including the assessment and organization of your existing IT infrastructure, as well as the identification of areas that require upgrading. You need a well-designed IT modernization strategy outlining key goals, available resources and timelines necessary for your modernization project.
IT risks and threats
IT infrastructure faces numerous risks and threats, including insider threats, external threats and advanced continuous threats. Fortunately, an IT asset management system can help identify IT risks and threats in your infrastructure allowing you to keep them at bay.
IT spending efficiency
IT spending efficiency is best achieved through strategic planning, regular reviews and investing in the best tools. As companies look for ways to increase their standing and surpass their competitors, understanding the nuances of IT spending and its optimization is more crucial than ever.
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
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.
Shadow IT examples
‘Shadow information technology’ (IT) refers to any software, hardware or IT resource used on an enterprise’s network without knowledge, approval or oversight from individuals in charge, such as members of a company’s IT department.
Software asset management
The business initiative for actively governing and automating procurement, usage and deployment of software licenses and subscriptions.
Software vulnerability
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.
What is application portfolio management
Application portfolio management (APM) is a framework for managing enterprise IT software applications and software-based services. The goal is to balance the portfolio for optimal performance, risk management and return on investment.
