ALERT

[FREE DEMO] Deploy Your Enterprise Cloud in Minutes

Asset Management Software

Definition - 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.

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

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

Techopedia Deals

Connect with us

Techopedia on Linkedin
Techopedia on Linkedin
Tweat cdn.techopedia.com
"Techopedia" on Twitter


'@Techopedia'
Sign up for Techopedia's Free Newsletter!

Email Newsletter

Join thousands of others with our weekly newsletter

Resources
The 4th Era of IT Infrastructure: Superconverged Systems
The 4th Era of IT Infrastructure: Superconverged Systems:
Learn the benefits and limitations of the 3 generations of IT infrastructure – siloed, converged and hyperconverged – and discover how the 4th...
Approaches and Benefits of Network Virtualization
Approaches and Benefits of Network Virtualization:
Businesses today aspire to achieve a software-defined datacenter (SDDC) to enhance business agility and reduce operational complexity. However, the...
Free E-Book: Public Cloud Guide
Free E-Book: Public Cloud Guide:
This white paper is for leaders of Operations, Engineering, or Infrastructure teams who are creating or executing an IT roadmap.
Free Tool: Virtual Health Monitor
Free Tool: Virtual Health Monitor:
Virtual Health Monitor is a free virtualization monitoring and reporting tool for VMware, Hyper-V, RHEV, and XenServer environments.
Free 30 Day Trial – Turbonomic
Free 30 Day Trial – Turbonomic:
Turbonomic delivers an autonomic platform where virtual and cloud environments self-manage in real-time to assure application performance.