Theview of IT has universally evolved from being just another cost center to an important business driver with mission-critical functions. Rapid changes in technology, compliance, and business have created a need to work smarter, more quickly, and with less resources. In the past decade, IT Asset Management (ITAM) has been on the forefront for IT executives and executive committee discussions—from cost cutting to increasing efficiencies to better management of the entire operations process. However, the following nagging question remains: what are we getting out of our IT investment?

ITAM must be approached as a key corporate activity that needs executive approval and support, along with planning from finance, human resources, and operations. The primary reasons for this relate to the need to control costs, the increasing importance and complexity of the enterprise's technological infrastructure, and the heightened risk associated with regulatory, cybersecurity, and contractual compliance issues.

As a strategic-level function, ITAM must be aligned with the strategic business plan. The approach must be strategic yet practical, with the recognition that all assets exist to support business services. Simply put, IT assets must be managed throughout their life cycles so as to support business strategy.