Asset Management

  • Release version: Australia
  • Updated April 20, 2026
  • 3 minutes to read

    • ServiceNow® Asset Management gives organizations complete visibility and control over their technology and enterprise assets throughout their entire lifecycle on a single, unified platform.

    Built natively on the ServiceNow AI Platform®, Asset Management brings together IT Asset Management (ITAM) and Enterprise Asset Management (EAM) to help organizations track, manage, and optimize assets across hardware, software, cloud resources, and enterprise environments. By sharing a single data model with IT Service Management (ITSM), Configuration Management Database (CMDB), and Security Operations, it eliminates data silos and enables cross-functional automation across your entire asset estate.

    Figure 1. Asset Management product hierarchy
    Asset Management products

    Asset lifecycle

    Every asset managed by ServiceNow Asset Management moves through a defined set of lifecycle states. Automated workflows and AI agents drive transitions between states, trigger approvals, and surface optimization opportunities at each stage.

    Figure 2. Asset lifecycle management
    Asset lifecycle

    Asset Management products

    The following table provides an overview of each product in the Asset Management suite.

    Table 1. Asset Management products
    Product What it does Key capabilities
    IT Asset Management products
    Software Asset Management Manage software licenses, ensure compliance, and eliminate risk with real-time entitlement tracking.
    • Now Assist for Software Asset Management (SAM) for Software Asset Management to streamline and automate the software asset management tasks
    • Software request via service catalog
    • Discovery, normalization, and inventory coverage
    • License reclamation and cost optimization
    • License Compliance and Reconciliation
    • SaaS license management
    Hardware Asset Management Manage the physical technology assets from the moment a purchase request is raised to the day a device is securely retired ensuring end-to-end visibility.
    • Now Assist for Hardware Asset Management (HAM) for Hardware Asset Management to streamline and automate the hardware asset management tasks
    • End-to-end lifecycle management
    • Loss prevention and asset visibility
    • Automation and guided workflows
    • Barcode and QR scanning (mobile app)
    • Security and compliance tracking
    Cloud Cost Management Gain complete visibility and control over your cloud estate and usage.
    • Unified multi-cloud spend visibility across Cloud providers, Kubernetes and AI services
    • Allocate costs to teams with flexible showback and chargeback
    • Set budgets, track spend, and get automated overage alerts
    • Automate rightsizing and shutdowns through native change management workflows
    Asset Audit Response Centralize vendor audit management, automate evidence collection, and reduce financial exposure.
    • Prescriptive audit response workflows
    • Centralized audit workspace with built-in regulatory content
    • Asset governance workspace for evidence request tracking
    • Proactive data gap identification and remediation with SME task assignment
    • Audit trail cataloging and point-in-time reporting for future audits
    Enterprise Asset Management
    Enterprise Asset Management Manage the entire lifecycle of physical and non-IT business assets, including planning, procurement, deployment, maintenance, and disposal, while connecting asset data with financial, risk, and operational teams in real time.
    • Now Assist for Enterprise Asset Management (EAM) for Enterprise Asset Management to streamline and automate the enterprise asset management tasks
    • Automate the full enterprise asset lifecycle
    • Schedule and manage maintenance plans to maximize asset uptime
    • Track total cost of ownership across the entire asset lifecycle
    • Mitigate risk through asset traceability
    • Empower field teams with mobile-first asset maintenance

    Asset Management common applications

    Asset Management works with the following ServiceNow applications to support asset lifecycle management across procurement, finance, and service management.

    Table 2. Asset Management common applications
    Application Role in IT Asset Management
    Base Asset Management The Asset Management application provides a single system of record for all IT assets, including hardware, software, and cloud assets. It captures and stores key attributes such as asset type, ownership, location, status, and cost. It tracks assets through every stage of their lifecycle, from procurement and deployment to maintenance and retirement, ensuring no asset goes unaccounted for.
    Contract Management The Contract Management application links license and maintenance contracts directly to asset records with automated renewal workflows.
    Procurement The Procurement application automates purchase orders, approvals, and receiving to create asset records on delivery.
    Product Catalog The Product Catalog application standardizes hardware, software, and cloud SKUs used across ITAM with an employee-facing request portal.

    Applications and features