This standard specifies the requirements for the establishment, implementation, maintenance, and improvement of a management system for IT asset management (ITAM), referred to as an IT asset management system.

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When an organization is certified to ISO/IEC 20000-1:2018 and ISO/IEC 27001:2013 they have many types of software assets they are using to support their business and their clients. To manage those assets, many organizations implement ISO/IEC 19770-1:2017 ITAM to ensure they are actively and safely managing these assets.

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ISO 19770-1:2017 specifies the requirements for the establishment, implementation, maintenance and improvement of a management system for asset management, referred to as an “asset management system”.

This standard includes additional or more detailed requirements that are considered necessary for the management of IT assets.

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This ISO standard allows for standardization in IT asset management by allowing for a common, standardize­d, and measurable approach. But the standard simultaneously allows organizations to adopt a flexible tier-based approach to ITAM. It is useful for every organization looking to ensure maximum value from IT assets while reducing a variety of IT-related risk, including security-related risks.

Having a standardized approach also allows for certification which will be useful for ensuring partners and potential partners have these processes in place; thereby reducing your risk.