Over 90 percent of companies are estimated to use IT Service Management (ITSM) frameworks, yet there is little research on their benefits to the Information Technology (IT) department and the business units. An international survey of 503 firms was conducted to examine the benefits of the IT Infrastructure Library (ITIL), the de-facto ITSM framework, specifically on how these benefits evolve as companies increase their adoption of the ITIL model. Also studied are the perception of challenges of the implementation and the number of ITIL processes implemented in relation to the progress of the adoption of ITIL.