Abstract: The purpose of the present invention called Information Technology Asset Management (ITAM) is to develop and monitor the processes and metrics to perform the orderly planning, acquisition, entry, use, insight, refresh, and retirement of all IT assets (desktop computers, servers, network components, software, etc.). The goal of the present invention is to lower the Total Cost of Ownership (COT), increase a company's technological agility, and improve the company's cash management. Other benefits are cycle-time reduction in the procurement, payment, and accounting of IT assets, with substantial cost savings in software licensing, property taxes, and stealth (or shadow) support.