IT asset management (ITAM) refers to the systematic process of managing and optimizing the lifecycle of an organization’s IT assets. This includes hardware, software, network resources, and digital information. ITAM involves tracking and inventorying assets and managing procurement, deployment, maintenance, and disposal. The objective is to ensure that IT assets are used efficiently, remain in compliance with licensing agreements, and contribute effectively to the organization’s goals. ITAM helps in reducing costs, improving asset utilization, and maintaining security by ensuring that assets are properly accounted for and protected throughout their lifecycle.