IT Asset Management

ITAM covers the entire lifecycle of IT assets — from procurement through deployment, maintenance, and eventual retirement or disposal. It includes hardware, software licences, cloud subscriptions, and digital assets. Effective ITAM reduces costs by eliminating unused licences, ensures compliance with software agreements, and provides accurate data for financial planning. It works closely with configuration management but focuses on financial and contractual aspects rather than technical relationships. In ITIL® 5, ITAM is recognised as a distinct practice, reflecting the growing importance of managing complex hybrid and cloud asset portfolios.