What is IT Asset Management (ITAM)?

IT asset management is the process of efficiently managing IT equipment throughout its lifecycle or period of ownership to maximize its value to the business.

IT asset management definition

Also known as “IT asset lifecycle management,” or just “asset lifecycle management,” ITAM is a framework for proactively and strategically managing the acquisition, usage, maintenance, and retirement of IT assets.

Not to be confused with IT operations management, which is concerned with delivering IT services and optimizing system performance, ITAM focuses on implementing and automating processes for managing complex asset inventories from purchase through disposition.