Asset Management Asset management integrates the physical, technological, contractual, and financial aspects of information technology assets. Asset management business practices have a common set of goals. Control inventory that is purchased and used. Reduce the cost of purchasing and managing assets. Select the proper tools for managing assets. Manage the asset life cycle from planning to disposal. Achieve compliance with relevant standards and regulations. Improve IT service to end users. Create standards and processes for managing assets. Most successful ITAM programs involve a variety of people and departments, including IT, finance, services, and end users. Asset Management and configuration management (CMDB) are related, but have different goals. Asset management focuses on the financial tracking of company property. Configuration management focuses on building and maintaining elements that create an available network of services. Asset Management Overview moduleThe Asset Management Overview module displays various asset management widgets showing information such as configuration item by manufacturer, computers by manufacturer, configuration item types, and asset information for a specific vendor. It also includes a report widget showing pending asset retirements for the current week, month, and year.Asset Management processThe best method for managing assets depends on business needs and how your business is organized.Asset information managementAsset management starts with finding out information about the assets your organization has.Asset classesThe default asset classes are Hardware, Software License, and Consumable. These general classes can be used to manage a variety of assets. Asset and CI managementAsset and configuration item (CI) management refers to creating assets, setting appropriate states and substates, synchronizing assets and CIs, managing consumables, and retiring assets.Transfer ordersTransfer orders move assets between company stockrooms.StockroomsStockrooms are places to which assets are assigned.Stock rulesStock rules are defined criteria stating that when inventory of a particular asset in a particular stockroom reaches a specified threshold, a certain number should either be transferred from another stockroom or ordered from a vendor.Software Asset Management pluginServiceNow® Software Asset Management plugin is a feature provided with the Asset Management application.Organization ManagementThe Organization Management application provides an easy way to perform such asset management tasks as updating users and adding vendors.