I was first introduced to ITIL about 10+ years ago. I was, at first, extremely skeptical and agree with the article's comment that "it looks like a lot of bureaucracy". By following ITIL's guidelines (and doing a little picking-and-choosing of what guidelines to follow and what not to) I was able to expand both my team's ability to perform work (and cost of that work) and keep management apprised of what work was being performed (without adding to my workload).
A caveat here: to get to that point it took me several weeks of writing documents while performing my up-till-then usual day-to-day tasks. This made for about 2 months work of 6-7 day work weeks with, on average, 15-18 hour work days. However after that initial period I rarely had work days that lasted longer than 9 hours (unless there was an emergency). I should also point out that there was no one else available who could assist me in my work AND I had been transferred into the department without knowledge of the 2 month deadline to get ITIL up-and-running for my team.
I have introduced this concept to every company since that I have worked for. Whenever I could convince the management, the improvements were always readily apparent after initial setup. The teams/management I couldn't always pointed to the "extra effort" it would take to setup.
Just my 2 cents...