Asset Management The ServiceNow® Asset Management application 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 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 information managementAsset management starts with finding out information about the assets your organization has.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.Asset classesThe default asset classes are Hardware, Software License, and Consumable. These general classes can be used to manage a variety of assets. Consumables life cycleConsumables are assets that are not tracked individually, but as a group of the same model.Create fixed assetsFixed assets are containers that can hold multiple assets. Fixed assets are commonly tracked at the corporate level by a finance or accounting department, but may contain IT assets such as hardware and software. Create pre-allocated assetsA pre-allocated asset physically exists, but is not yet a financial liability.Example Asset Management processThe best method for managing assets depends on business needs and how your business is organized.Transfer orders for Asset ManagementTransfer orders move assets between company stockrooms.Transfer order line asset trackingAs transfer order line actions are triggered, the stock information and states of any affected assets are updated. Consumables and non-consumables are tracked differently.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.ITSM Software Asset ManagementThe ITSM Software Asset Management feature of Asset Management can be activated using the Software Asset Management Foundation plugin, or the Software Asset Management plugin, depending on the release version of your base system.Organization ManagementThe Organization Management application provides an easy way to perform such asset management tasks as updating users and adding vendors.Installed with Model ManagementSeveral types of components are installed with Model Management.Installed with Asset ManagementA number of tables, user roles, UI policies, script includes, client scripts, and business rules are installed with Asset Management.