IT Asset Management (ITAM) is a business practice aimed at managing, controling and optimizing the selection, purchase, deployment, maintenance, utilization and decomissioning of computer hardware, software and cloud services within an organization. ITAM goals include the reduction of information technology (IT) costs and risks related to the ownership and use of IT, while maximizing IT responsiveness, utilization, security and end-user productivity.
Particularly important for large corporations is that ITAM enables the management of licenses and legal risks associated with the use of (cloud) software through the ITAM subdiscipline of Software Asset Management (SAM). The international ISO/IEC 19770 family of standards include a process framework to enable an organization to incorporate ITAM (including SAM) processes and policies to comply with corporate governance requirements and ensure effective support for IT service management overall.
As investments in IT and IT complexity grow exponentially, ITAM is critical to an organizations’ IT business and risk management strategy.