Today’s technology landscape no longer allows service management to be seen as merely “IT support.” With the arrival of ITIL Version 5, the focus has shifted dramatically to value co-creation in an ecosystem where the digital product takes center stage. If you’re a technology provider or a professional looking to stand out, understanding this evolution is non-negotiable.

In this new version, concepts such as the former SVS (Service Value System) have evolved into the Value System, and the SVC (Service Value Chain) into the Value Chain. This shift reflects a far more integrated approach between product management and service management.

In this article, we’ll break down how the benefits of ITIL Version 5 directly impact those who build, manage, and deliver digital solutions in the modern market.

Read also: The Definitive Guide to ITIL 5

Benefits of ITIL Version 5 for Digital Product Providers

For companies that operate as digital product providers, ITIL Version 5 works like a governance operating system that ensures innovation doesn’t turn into chaos. Here are the key benefits:

Value Focus and the End of the “Build Trap”: One of the biggest problems for providers is building features that nobody uses. The framework ensures development stays focused on creating real value for customers and stakeholders, avoiding wasted resources on purposeless solutions.

Pragmatic AI Adoption: ITIL Version 5 brings an essential balance between adopting emerging technologies like Artificial Intelligence and effective technology governance. This enables faster innovation while maintaining security and control.

Holistic Lifecycle Management: Instead of separate “development” and “operations” teams, the framework promotes management of the full digital product lifecycle, integrating internal and external teams into a smooth, end-to-end Value Chain.

A Culture of Security and Creativity: It encourages a collaborative culture that values psychological safety, respect, and creativity—enabling teams to learn from failures and continuously improve the product.

A Global Common Language: It makes communication easier with partners, vendors, and customers by using globally standardized terminology—reducing misinterpretation in contracts and service level agreements.

Advantages for Professionals in the Digital Era

If you work on the front lines—whether as a Product Owner, IT Manager, or Developer—the benefits of ITIL Version 5 for your career are game-changing. The market wants professionals who understand the big picture, not just isolated technical tasks.

Strategic Vision and Business Context

Mastering ITIL enables you to understand exactly how your technical skills contribute to customer outcomes. You stop being a “ticket executor” or a “code writer” and become a strategic partner who understands the business context behind every activity.

Adaptability and Career Growth

The framework provides a practical structure for dealing with the latest organizational trends. By getting certified, you gain access to clear professional development pathways, with globally recognized certifications that validate your ability to manage complexity and deliver results in high-uncertainty environments.

The New Value System and Product Management

In ITIL Version 5, the Value System is the model that represents how all organizational components and activities work together. For those working with digital products, this means technology and information are treated as core resources within the value chain.

Value Chain activities—such as Discover and Design—carry much more weight. The goal is to ensure the product is “fit for purpose” and “fit for use” from day one, integrating automation tools and SRE (Site Reliability Engineering) practices to ensure reliability.

How can you apply this in your company today?

Adopting ITIL Version 5 isn’t about memorizing books—it’s about shifting your mindset toward agility and value. Start by mapping your current value streams and identify where there is “value leakage” or communication silos between product and service teams.

Integrating automation tools and upskilling your team in new AI governance practices are the first steps toward turning your digital product delivery into a sustainable results engine.

Want to lead this transformation and earn your certification?

At PMG Academy, we offer complete, hands-on training so you can master ITIL Version 5 and become the professional the digital market competes for.