Asset Management Software

What Does Asset Management Software Mean?

Asset management software is a dedicated application which is used to record and track an asset throughout its life cycle, from procurement to disposal. It provides an organization with information like where certain assets are located, who is using them, how they are being utilized and details about the asset. The asset management software is used for management of both software and hardware assets.

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Asset management software is also known as an asset management tool.

Popular Asset Management Software

Manage your assets in one place with these popular software providers:

 

Techopedia Explains Asset Management Software

Asset management software tracks every aspect of an asset and is very useful to an organization because, aside from keeping track of assets, it can also provide additional functions like:

  • Measuring vendor performance
  • Optimization of supplier portfolio
  • Vendor audit and policy compliance
  • Optimization of costs for licensing
  • Streamlining of procurement processes

Benefits of asset management software include:

  • Maximize utilization and value of assets
  • Enable informed decision making through cost transparency
  • Proactive software license compliance
  • Manage services as well as assets
  • Track vendor and supplier performance through transparent metrics
  • Optimized allocation of assets for greater return on investment
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Margaret Rouse

Margaret Rouse is an award-winning technical writer and teacher known for her ability to explain complex technical subjects to a non-technical, business audience. Over the past twenty years her explanations have appeared on TechTarget websites and she's been cited as an authority in articles by the New York Times, Time Magazine, USA Today, ZDNet, PC Magazine and Discovery Magazine.Margaret's idea of a fun day is helping IT and business professionals learn to speak each other’s highly specialized languages. If you have a suggestion for a new definition or how to improve a technical explanation, please email Margaret or contact her…