The Information Technology Infrastructure Library (ITIL) is a set of best practices for organizations to align their IT services with the needs of the business. ITIL 4, the latest version of the framework, was designed to keep up with recent trends in software development and IT operations. It emphasizes different elements of IT security and management, including identity and access management (IAM) solutions and practices as essential parts of cybersecurity strategies.
One of the key concepts introduced in ITIL 4 is the idea of value streams. A value stream is defined as "a series of steps an organization undertakes to create and deliver products and services to consumers". This concept evolves the previous ITIL focus on processes and process outputs by helping people understand how a stream connects processes to services and how operations support business strategy.
Value streams allow greater focus on particular elements of value created, enabling IT practitioners to be more specific about which ITIL practices and activities to involve. For example, in incident management, considering it as a value stream means thinking about the journey, the skills, tools, and combination of practices in the Service Value Chain (SVC) to co-create value and solve issues.
At Profectus, we leverage ITIL 4 and its concept of value streams to deliver enduring value to our clients. Our SIAM and ITSM consulting services help manage and integrate various IT services from multiple providers to deliver a cohesive, business-facing IT organization. We support customers through the engage, plan, design & transition, and obtain/build phases of the Service Value Chain, ensuring seamless end-to-end service delivery and improved collaboration among internal and external service providers.
The adoption of ITIL 4 and the concept of value streams is part of a broader commitment to digital transformation. The Australian government, for instance, has shown a clear commitment to ITIL adoption, with change management consistently treated as a high priority. This commitment is also evident in the government's efforts to modernize its software tools and improve customer satisfaction.
The future of service management is promising, with ITIL 4 and value streams playing a crucial role. As the IT sector continues to evolve, the ability to adapt to the constantly changing technology landscape will be key. At Profectus, we are committed to supporting this vision of enhancing the service management landscape. We offer our expertise to further improve service delivery and citizen engagement, ensuring that ITIL 4 and value streams remain agile, responsive, and cost-effective. We believe that by aligning with global best practices, organizations can leverage ITIL 4 and value streams to drive growth and innovation.
Citations:
IT Service Management: How to Build an ITIL 4 Framework | FedTech Magazine
ITIL 4 Value Streams: do the right things for customer | Axelos
PowerPoint Presentation (core.ac.uk)
(1) New Messages! (sysaid.com)
Review of IT Governance Frameworks Implementation in the Context of the South African Public Sector | IEEE Conference Publication | IEEE Xplore
ITIL Value Stream: Maximizing Business Value (knowledgehut.com)
