Asset management software includes a wide range of computer applications that help you track, maintain and analyze assets and revenues. While the field of asset management was initially restricted to physical assets, such as real estate, equipment and inventory, it has expanded into the realm of the nonphysical to include such items as leases, contracts and even business software. IT asset management software is an example of a tracking tool for nonphysical holdings.
Features and Advantages of Asset Management Software
It is important to distinguish between asset management software and software asset management. The former deals with both physical and nonphysical assets, while the latter refers to a means of managing your company’s digital assets. By and large, digital asset management software is useful only to medium- and large-scale enterprises whose software holdings and proprietary licensing investments are significant enough to warrant tracking.
Regardless of the type of asset being managed, these products are indispensible accounting tools. They help you calculate appreciation and depreciation, make projections and forecasts, track your inventory and perform in-depth analyses of the health of your holdings. Some products also double as supply chain management software tools, helping you organize and manage the various leases and contracts your business relies on. You can also get specialized fixed asset management software that focuses solely on your property, plant and equipment (PPE) holdings.
Proper asset management is crucial to the overall financial health of your business. Overvaluing or undervaluing your holdings can lead to incorrect business decisions, which can harm or even ruin your enterprise. It also helps you streamline business operations and identify the strengths and weaknesses of your asset diversification strategy.
Popular Asset Management Programs
Well-known asset management software products include Altiris’ Asset Management Suite, AuditWizard, MAXIMO Asset Tracker and Track It! Microsoft also offers asset management software as part of its systems management server product family.
For software asset management tools, check out Express Metrix, FrontRange Solutions and Snow Software. Of course, it’s also recommended that you draw on the wisdom and experience of other users. Software review sites will show you what others have to say about the various programs available on the market.