Meaning ● IT Lifecycle Management (ITLM) within the SMB landscape represents the strategic approach to planning, acquiring, deploying, operating, and ultimately retiring IT assets. This involves a focus on optimizing value and minimizing risks at each stage of the lifecycle to support SMB growth objectives. ITLM is critical for SMBs, particularly in areas that involve automation, where efficiently managing IT infrastructure reduces operational costs and enhances productivity. ITLM further ensures compliance and data security, vital when implementing new technologies and scaling operations, by providing standardized procedures and controls. Proper IT lifecycle oversight enables businesses to effectively plan budgets, avoid technical debt, and adapt their IT capabilities in alignment with evolving business needs. Furthermore, a proactive approach to ITLM helps small and medium-sized businesses to maximize return on investment from technology, supporting both immediate gains and long-term competitive advantages in the marketplace.