You may not be familiar with the term “information technology asset management” (ITAM), but most businesses deal with it on a regular basis (for better or worse). ITAM is what helps control the costs of computers, servers, software, and services used to create the computing environment modern businesses need to function.

Ideally, the ITAM team (you do have one, right?) should be able to tell their business leadership the exact number of laptops in use by a remote sales force, or if more software licenses are needed to avoid a monstrous audit penalty at year’s end, or the costs of limping along on Windows 7 because that one CAD/CAM tool can’t handle the latest operating system.

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