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Configuration and asset management govern the items under different lifecycles.For example, asset management manages a server from procurement through disposal.Configuration management also differs from asset management in that it does not seek to manage financial accounting aspects of the CI.

Other metrics can improve, such as time spent searching for data, data quality and accurate reporting on the IT estate.

Configuration management is referred to as Service Asset and Configuration Management in ITIL V3.

For a configuration management system to operate, it needs some form of mechanism in which to store the information it governs.

A configuration management tool can improve the organization's change-impact analysis, reducing the outages caused by production changes.

Configuration management combines valid service models, CI interdependency mapping and correlations made between CIs and requests for changes to help restore services faster during an outage.