ITIL® is the world’s most renowned framework for IT Service Management (ITSM). ITIL® 4 is the latest version of the ITIL® framework that offers a modernized and community-driven approach. ITIL® 4 provides the users with comprehensive guidance for the effective management of information technology in the modern service economy. It offers to the users a myriad of new ITSM tools, along with a renewed focus on the latest best-practices for ITSM and integration with other popular standards, including Lean, Agile, and DevOps. Some shortcomings of the previous version have also been addressed in this latest version of ITIL®.