Asset Management

Asset Management refers to the systematic process of tracking, maintaining, and optimizing the use of an organization’s physical and digital assets throughout their lifecycle. In an IT context, this includes hardware (like computers, servers, and networking equipment) and software (licenses, applications, and subscriptions).

The goal of asset management is to maximize value, reduce costs, ensure compliance, and improve decision-making. It involves asset procurement, inventory management, maintenance, depreciation tracking, and disposal.

Effective asset management enhances operational efficiency, helps prevent asset loss or misuse, and supports budgeting and strategic planning. Tools like IT asset management (ITAM) platforms and enterprise asset management (EAM) systems are commonly used to automate and streamline the process.