The IT Asset Management Review has a fantastic 2-part article entitled "IT Asset Management: How to Bring Value To Your Organisation." The article talks about how ITAM programs can add value to organizations as well as key processes to yield those values.
"When evaluating the ITAM program on its merits, you can see it yields quantifiable benefits such as budgetary savings, risk reduction and enterprise-wide efficiencies. By definition, ITAM is the process of managing the business side of IT, therefore as a business practice, the targets and measurements must adhere to standard business methodologies and adhere to the organization’s goals and contribute to the bottom line."
The article suggests using 3 core foundation processes to build an ITAM program:
1. Backed by policy
2. Communication & education
The second part of the series focuses on processes which can support your ITAM program including acquisition management, asset identification, compliance management, disposal management, documentation management, financial management, legislation management, project management and vendor management. It's quite a long read. But worth it!