IT Service Management (ITSM) and IT Asset Management (ITAM) are separate disciplines that provide significant value independently. When combined, they deliver even greater value and organizational impact. While these two disciplines are typically implemented in separate areas of the organization with entirely different business objectives and mandates, their processes are highly interrelated. They also share much of the same technology and data to support their implementation. Enormous synergy and economies of scale can be realized by combining and consolidating the overlapping processes, technologies and data.