SLM: Service Lifecycle Management How It Should Be
Service Lifecycle Management, or SLM, has existed as an idea for quite some time, but the tools to make it work are relatively new and constantly evolving. Basically, Service Lifecycle Management handles the storage, manipulation and rendering of electronic data as it pertains to a business service. A good SLM should support the entire service lifecycle from project quotes, to lead generation, to services to billing and even asset retirement.
Tools for the all-encompassing SLM have begun to expand in order to provide users with the power and flexibility they crave for managing all their service operations. However, not all companies use SLMs. Some companies may use a CRM (customer relationship manager) for lead tracking, and an AM (asset management) to track their goods, and other programs for various functions, but it makes more sense to have one solution that supports all of the functionalities needed to run a service-based organization.
In a service-based organization, down-time is not always an option, and a comprehensive SLM will account for that. Watch the below video to learn more about Service Lifecycle Management as it pertains to the various functionalities within an organization.