Both digital and tangible assets can be managed from procurement to payment with the help of asset management software applications. While there are several common features and functions they share, not every asset management application is compatible with every asset type by default. So, read on to learn about the various types of assets that can be managed with the right asset management applications.
Digital Assets
Digital asset management software applications are designed to help both corporations and professionals manage all aspects of their copyright-protected digital assets. A digital asset is a broad classification for a wide range of products, which is why you should always check with the software vendor to verify whether their application is designed for managing the kind of digital assets that you need it to. Everything from media (images, videos, movies, audio, songs, etc.) and software to NFTs can qualify as a digital asset.
Renewable Energy Assets
Renewable energy assets can be either fixed or productive, but you can invest in both simultaneously. Investments made in the renewable energy infrastructure itself, or any of the various renewable energy products (wind turbines, solar panels, etc.) can be managed efficiently with the help of a dedicated renewable energy asset management software. The software applications are designed especially for simplifying and automating the various complicated aspects of renewable energy asset management. For example, the software will either automate or provide aid with:
- Tracking, monitoring, and keeping records for all due taxes.
- Maintaining and preparing tax reports, while maximizing the green energy tax rebates, as applicable.
- Performance tracking, monitoring, and analysis.
- Planning steps for optimizing the present green asset investments.
- Estimating and making calculated predictions to produce better results from future investments in green assets.
- Technical report creation and/or analysis related to present problems and future plans.
- Tracking, monitoring, and ensuring compliance with all applicable government standards and contractual agreement terms.
Enterprise IT Asset Management
Enterprise IT asset refers only to the investments made in hardware and not software. However, you will find asset management solutions that provide comprehensive IT asset management. They can be used to manage most assets related to information technology, including the digital assets mentioned previously.
However, the world of IT is so vast that a comprehensive solution might become overcomplicated for investors who have a really diverse IT investment portfolio. A dedicated enterprise IT asset management solution, on the other hand, can be highly useful for keeping a separate, less complicated, and more accurate tab on all hardware assets.
Perhaps the most generalized asset management software out of them all is the financial asset management tool. While it was the original and the only classification for all asset management tools once, it makes very little sense in today’s world. After all, every asset in asset management is essentially a financial investment by default. If you opt for a financial asset management tool, just make sure that it has the specific class of asset management tools that you will need.