What is IT Asset Management (ITAM)?
IT asset management (ITAM) is a framework involving a set of business processes and practices that are directly tied to an organization’s IT infrastructure and assets. Some mistake ITAM as simply the process of cataloging, tracking and maintaining the IT assets of an organization. However, ITAM combines financial, inventory, contractual and risk management responsibilities to create a more holistic approach to the management of IT assets throughout their lifespan.
IT asset management is generally a part of IT Service Management (ITSM) which includes all activities related to designing, planning, creating, deploying and managing IT services.
ITAM fundamentals and key process areas
The International Association of Information Technology Asset Managers (IAITAM) is an organization that offers documentation on ITAM to help guide organizations through the process of asset management, see the 12 key process areas below.