IT Asset Management (ITAM) is the process of managing an organization’s IT assets, including hardware, software, and digital data. It enables optimization of IT resources, improves operational e iciency, and reduces costs by ensuring that assets are properly managed throughout their lifecycle. This drives cost-optimized asset acquisition and utilization, maximizes return on investment, minimizes risk associated with software licensing and compliance, and ensures business continuity.
According to a recent study , the global ITAM market size was valued at $6.6 billion in 2022 and is expected to reach $12.14 billion by 2030. Savvy organizations are not just investing in ITAM, but integrating it with SAP – maintaining a single source of data but also enabling employees to use real-time SAP data directly in their front-end systems, like ServiceNow.