Short for Information Technology Infrastructure Library, ITIL is a set of processes, procedures, and tasks that help IT to align its services with the needs of the business. The components of ITIL are not specific to one company, and can be adopted by any business, big or small. Using ITIL helps deliver improved value and integration with the organization's strategy, and measure improvement in its IT services.
AXELOS, Ltd. purchased ITIL in July 2013. It provides licensing to organizations and maintaining the ITIL framework.