The ITAM Executive: A Podcast for IT Asset Management Professionals · Anglepoint

Inside the 2024 Update to ISO/IEC 19770-1

·20 min·1 clip

Rather than rigid rules, the standard teaches organizations how to think about IT management and improve continuously.

This episode details the 2024 update to the ISO/IEC 19770-1 standard for IT Asset Management (ITAM). Host Chris Johnson interviews Ron Brill, the Convener of the ISO committee that writes the standard and a key industry leader. They explain the standard's evolution and its new alignment with the FinOps methodology for cloud financial management. The 2024 update formally adopts FinOps terminology—inform, optimize, and operate—to replace the previous tiers of trustworthy data, lifecycle integration, and optimization. Gartner predicts over 50% of organizations will converge their ITAM and FinOps functions by 2025 or 2026. The standard expands its listed process areas from 15 to nearly 30, adding granularity for daily ITAM and FinOps tasks. A new, dedicated process area for sustainability has been incorporated based on industry trends. The definition of an IT asset is clarified to unequivocally include cloud resources, whether on-premises or off-premises. The update also streamlines the document using feedback from the first organizations to undergo certification audits. The draft will enter its first ISO ballot with member countries in Q1 of 2024, aiming for publication by the end of the year. A core insight is that the standard is built on a management system framework, which follows the Plan-Do-Check-Act (PDCA) cycle for continuous improvement. This framework is not prescriptive but teaches organizations how to determine their own scope and processes based on risk assessments. An auditor for certification would not judge *what* assets a company manages, but rather verify it has a systematic process for managing whatever it chooses. This structure is identical to other ISO standards like ISO 27001 for security, allowing for joint implementation. The hosts emphasize that organizations can derive value from the standard's framework even without seeking formal certification. The tone is educational and conversational, with two experts clearly explaining a complex, technical subject. The style is interview-based, with the host prompting the guest to elaborate on specific aspects of the standard's development and application. IT asset managers, FinOps practitioners, and anyone involved in IT governance or compliance would find this episode highly valuable. Listeners seeking a high-level business overview without technical details might find it too specialized.

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