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IT Asset Management (ITAM) is a type of business management that is directly tied to an enterprise's IT infrastructure. With ITAM, professionals review the an organization's total business hardware and software inventory and make comprehensive decisions about sourcing, use and all other aspects related to an asset lifecycle.
ITAM is essentially a form of business process management (BPM) that focuses on the overall deployment, use and lifespan of products, rather than other IT management components. ITAM managers are responsible for maintaining control over inventory and ensuring that business assets fit the organization's operating needs. Other ITAM goals include compliance with industry standards, best practices for environmental usage and efficient asset reuse or purchases.