De-facto Standard

Today, ITIL® is used throughout the world as a de-facto standard. Its principles and methodologies are adopted by major organizations. ITIL® defined processes allow you to measure and benchmark system performance and identify improved opportunities in both cost as well as quality. It further allows you to provide your internal customers with objective information based on practical experience, not vague or theoretical ideas.

But what exactly is ITIL®?
ITIL® is the IT Infrastructure Library and ITIL®® is a Registered Trade Mark and a Community Trade Mark of the Office of Government Commerce.  Developed in the late 1980’s by the CCTA (now the OGC). By the latter part of 1990, it had become the established governance standards in service management.  ITIL® establishes best practice norms for the industry and may be adopted in individual business in different ways by the IT industry.  
ITIL® offers a set of best practices standards for Information Technology (IT) service management. The United Kingdom’s Central Computer and Telecommunications Agency (CCTA) created it in response to the growing needs of the IT industry to meet its goals.
Additionally, it provides businesses with a regularized framework of best practices to achieve optimal service and get through the challenges associated with the ever changing and fast moving IT sector. Being a framework, it is completely customizable for use within any type of organization that uses IT in any form whatsoever.
Information Technology Infrastructure Library is considered to be best practice ideology for IT Service and infrastructure management. It is currently maintained and upgraded by the office of Government Commerce.