What is Asset Management?

Asset Management Definition

Asset management is the process of managing and organizing a company’s tangible and intangible assets to maximize their value and facilitate the achievement of business objectives. The term “”assets”” encompasses a vast array of items, including buildings, equipment, vehicles, intellectual property, and financial investments.

Asset management entails identifying and cataloging a company’s assets, establishing goals and objectives for their utilization, and developing strategies to maximize their value. This may involve activities such as maintaining and repairing assets, tracking and forecasting their performance, and investing in new assets to support the expansion of the business.

Asset management may involve the use of specialized software or other tools for tracking and managing both tangible and intangible assets. Effective asset management is an important aspect of many businesses, as it ensures that the company’s resources are utilized efficiently and effectively.

What is asset management?

Best Practices for Item & Document Management

Read our best practice articles on effective item and document management.