Best practices for IT asset management includes knowing what you have and where you have it, says Kelly Cannon, vice president for operations solutions at Nationwide Mutual Insurance Co. It also involves aligning IT decisions with a company's business strategy."We've gone from siloed decision-making within individual business units to what I think is a great partnership between business and systems," Cannon says.

Previously, IT decisions at Nationwide Insurance were made independently by each business unit. "When you're trying to get the most out of your IT investments, that's a difficult strategy to be successful with," Cannon says. "There are always interrelationships between different organizations and you need to take those into account when developing systems strategies."

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