IT asset management (ITAM) is the set of business practices that join financial, contractual and inventory functions to support life cycle management and strategic decision making for the IT environment. Assets include all elements of software and hardware that are found in the business environment.
ITAM business practices have a common set of goals:
- Uncover savings through process improvement and support for strategic decision making
- Gain control of the inventory
- Increase accountability to ensure compliance
- Enhance performance of assets and the life cycle management
Risk reduction through standardization, proper documentation, loss detection