The Information Technology Infrastructure Library (ITIL) is a collection of specific procedures for IT tasks including IT asset management (ITAM) and IT service management (ITSM), which put the business' needs first.

1. What Is ITIL® v4?
The information technology infrastructure library's most recent edition, ITIL 4, was launched in
2019 and is now the most adaptable, versatile, and adjustable. With more stable IT
environments, lower costs, improved risk awareness, and improved customer support, ITIL 4
offers a methodical approach to ITSM. The approaches place a greater emphasis on automated
procedures, the extension and integration of service management outside of IT, and the
enhancement of teamwork and communication throughout the entire organization.
Why is ITIL important?
Although not an industry standard, the ITIL framework and suggestions are widely used by
hundreds of businesses who are benefiting from a standardized approach. ITIL is owned by AXELOS
Limited. For enterprises that decide to commit to the ITIL framework, it increases the quality of service
management, outcomes, and operations.
ITIL 4 components
ITIL 4 defines four dimensions that should be considered to ensure a holistic approach to
service management:
1. Organizations and people
2. Information and technology
3. Partners and suppliers
4. Value streams and processes.
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