ITAM is a management system concept, an overlay that allows organizations – if they follow the ISO/IEC 19770-1 standard – to manage asset-related risks. In the past people working in the ITAM field had a significant focus on contractual compliance or cost savings. To put things into perspective: This is a fraction of what ITAM can bring to the table. It is a perfect extension to other controls in an organization, e.g. related to IT operations, service management, security, controlling, and more.