The ISO/IEC 19770 family of standards centers on IT asset management (ITAM) including managing software assets and hardware assets (SAM and HAM).The objective of the standards is to give organizations of all sizes information and assistance with reducing risk and optimizing the cost of IT assets. Through implementation of the standards, these same organizations will acquire a competitive advantage through:- Management of the risk of interrupted IT service delivery, breach of legal agreements and audit;- Reducing overall software costs through the implementation of various processes; and- Better information availability leading to improved decision-making based on accurate data.