IT asset management (ITAM) is the practice of tracking every IT asset your organisation owns or uses, from purchase to disposal: hardware, software and its licences, cloud resources, contracts and warranties. ITIL 4 describes it as a practice of its own, and the ISO/IEC 19770 family of standards covers it in detail, starting with software.
ITAM and the CMDB answer different questions. ITAM asks what you own, what it costs and when it ends; the CMDB asks what your services depend on and what a change will touch. A clean, current ITAM inventory is the best source a CMDB can have, which is why we build both from the same discovery data. See the CMDB in HaloITSM for the configuration side.
This page describes our ITAM service, which works with any ITSM tool. For the asset module of the tool we recommend most, see IT asset management in HaloITSM; for the discovery product, see Lansweeper.
IT asset management is one of the practices of IT service management (ITSM): the asset data feeds the CMDB, incidents and changes.
Source: the ITIL 4 IT Asset Management practice, ITIL 4 by PeopleCert.