Asset Management common applications

  • Release version: Australia
  • Updated May 19, 2026
  • 1 minute to read

    • Asset Management application relies on a seamless integrated ecosystem of applications to deliver complete visibility, control, and optimization of IT assets throughout their lifecycle.

    The following table highlights the related applications that underpin effective Asset Management.

    Table 1. IT Asset Management common applications
    Product Why it is required
    Base Asset Management Serves as the foundational layer for IT Asset Management, providing the core data model, asset repository, and tracking framework. Without it, there is no central system of record for asset attributes, states, relationships, or lifecycle stages. All other IT Asset Management capabilities are built on top of this base.
    Contract Management Enables license compliance and financial accountability by linking assets to their associated agreements, entitlements, warranties, and support contracts. Without this, organizations risk over-spending on renewals, missing expiration dates, or falling out of compliance during audits.
    Procurement Ensures that every asset entering the organization is tracked from the moment it is ordered. Integration with Procurement ties purchase orders, vendor details, and delivery timelines directly to asset records.
    Product Catalog Provides a standardized library of hardware and software models that normalizes asset data across the enterprise. It ensures consistent naming, classification, and attribution, reducing data quality issues and enabling accurate reporting, spend analysis, and lifecycle planning.