---
sourceDocument: Asset Management
sourceDocumentLink: https://www.servicenow.com/docs/r/it-asset-management

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    - brazil

ft:locale :

    - en-US

ft:publication_title :

    - Asset Management

ft:clusterId :

    - itam

bundleId :

    - itam

workflow :

    - Technology


---

# Configure the Total Cost of Ownership of assets

# Configure the Total Cost of Ownership of assets {#ariaid-title1}

Release version: Brazil  
Updated September 10, 2026  
![](https://www.servicenow.com/docs/portal-asset/ico-clock) 1 minute to read  
Configure the Total Cost of Ownership (TCO) of assets by creating rate cards for each task in a Hardware Asset Management workflow.

Rate cards capture costs for a task or on the time consumed on the task.
* **[Create a task rate card in Hardware Asset Workspace](https://www.servicenow.com/docs/wL8XaKUyPxLFv4m7yB2LaQ)**   
  Create a task rate card to define the type of task and the method of calculating the associated costs.
* **[Create a labor rate card in Hardware Asset Workspace](https://www.servicenow.com/docs/oe_2nSPtizvu7TSrUpEicQ)**   
  Create a labor rate card to record the time worked on a task and associate a rate to the task.

**Related concepts**   

* [Asset Total Cost of Ownership for Hardware Asset Management](https://www.servicenow.com/docs/Gj9h7OPzU9CPz2ftJLP0FQ "Assets incur costs throughout their life cycle, including initial capital costs and operational costs. Asset Total Cost of Ownership helps Asset managers to understand, analyze, and track the Total Cost of Ownership (TCO) of assets, where the total cost includes initial capital cost and operation cost.")
* [Asset analytics view](https://www.servicenow.com/docs/NUf8Z~M6zd7JahD_3dbLBA "Use the Asset analytics view to get a detailed view of all your hardware assets, the total cost of ownership (TCO) of your assets, and the asset performance.")