There are several reasons for the relevance of IT Asset Management for all companies - whether big organizations or small businesses. For once, it provides them with a single source of truth: a complete, up-to-date IT inventory that allows them to see what they own or lease, the Total Cost of Ownership of their assets, and their current status.
In line with that, implementing an ITAM framework reduces waste - including unnecessary procurement costs, extraneous third-party support and maintenance costs, ""shelf-ware,"" and the internal maintenance of assets that should have been decommissioned. Hence, optimizing the business investments and saving unnecessary bucks spent on vacant software and hardware.
And lastly, it improves productivity and supports all the other ITIL practices, like Incident Management, Problem Management, and Change Management.