What is Asset Management?
Asset management is the maintaining and cataloging of your company's computer equipment. That can include laptops, headsets, servers, firewalls, and keyboards.
As companies get bigger, they have more and more equipment and without the proper tracking and managing of all the equipment, it's common for items to be misplaced. This can be an added and unnecessary expense not to mention confusing for your team to organize when it comes time to get new equipment or software.
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Asset management and good organization/documentation is very important if an insurance claim has to be filed. In the event of a disaster, insurance requires documentation of lost, stolen, or destroyed equipment. Without proper documentation, insurance companies may deny replacement of that equipment.
Equipment warranties also fall in the asset management category. If the equipment fails or needs to be replaced, there could be a warranty. If the warranty information isn't managed in an organized fashion, this could result in having to replace the equipment, costing you money.