ITAM

Information technology asset management (ITAM) is the set of business practices and tools used to manage the lifecycle of IT assets, from planning and acquisition through deployment, maintenance, and disposal. IT assets include hardware such as servers, desktops, and network devices, and software licenses and applications. The aim is to maximize value, control costs, and ensure compliance and risk management.

Core activities include asset discovery and inventory, license management, procurement and contract management, financial tracking and depreciation, configuration management, maintenance planning, and retirement. Data from discovery, procurement, and financial systems is consolidated in an asset repository or CMDB to support decision making and reporting.

ITAM is typically divided into hardware asset management (HAM) and software asset management (SAM). HAM tracks physical assets and lifecycles, while SAM manages software licenses, entitlements, usage, and compliance with license terms. Standards such as ISO/IEC 19770-1 and ITIL guide best practices.

Implementation considerations include data quality, authoritative data sources, and cross-system reconciliation. ITAM benefits from integration with IT service management (ITSM), ERP, and procurement, while addressing challenges such as shadow IT, incomplete records, and variable contract terms.

Benefits include cost control, improved license compliance, better budgeting, and audit readiness. Key metrics include license utilization, true-up avoidance, asset turnover, and total cost of ownership.