Assets are any items or financial instruments that have value are owned by an individual or organization. There are two different kinds of assets: tangible and intangible. Tangible assets are items that have a physical presence, such as tools and inventory, whereas intangible assets might include financial instruments, such as stocks and shares. Asset managers use asset management products to track assets, reduce factors such as risk and cost, and generate higher returns. Some examples of asset management products are asset tracking devices and financial asset management software.
Tracking devices are asset management products often used by inventory managers who work in warehouses and for manufacturing companies. Some common management products in these scenarios are barcode tracking systems and Radio Frequency Identification (RFID) systems. Barcode tracking requires managers to place barcode strips that can be scanned on each inventory item, allowing users to read information such as date received, location, and contract data. RFID tags are read by devices that communicate via radio waves.
In these cases, asset management software assists managers in knowing when to reorder or replace inventory items and pieces of equipment. This software is also helpful for managers who want to keep up with inspections of machines so that they can be repaired before they break down, leading to costly replacements. Companies with multiple locations or entities might deploy items to various locations. Software assists managers in keeping track of locations where equipment is being used and who is responsible for supervising equipment use.
Financial asset management products help financial managers to organize and analyze investments of clients. Most of these programs allow users to judge performances of various instruments. They can generate charts that enable users to gauge behaviors. Managers can project risks and gains by analyzing information provided by these programs.
Professionals who act as financial managers for large investors may use portfolio software. A portfolio is a collection of investments. Many investment experts believe that portfolio asset management products are effective management tools since they provide managers the ability to get an overview of all investments, which can help them better to determine which investments are riskiest and can be excluded and which investments are most promising.
A number of asset management products for financial managers may include interfaces that allow managers to communicate with brokers. This allows users to sell or purchase stocks. Another common feature of this software is the capability to track real time market behaviors.