We are independent & ad-supported. We may earn a commission for purchases made through our links.
Advertiser Disclosure
Our website is an independent, advertising-supported platform. We provide our content free of charge to our readers, and to keep it that way, we rely on revenue generated through advertisements and affiliate partnerships. This means that when you click on certain links on our site and make a purchase, we may earn a commission. Learn more.
How We Make Money
We sustain our operations through affiliate commissions and advertising. If you click on an affiliate link and make a purchase, we may receive a commission from the merchant at no additional cost to you. We also display advertisements on our website, which help generate revenue to support our work and keep our content free for readers. Our editorial team operates independently of our advertising and affiliate partnerships to ensure that our content remains unbiased and focused on providing you with the best information and recommendations based on thorough research and honest evaluations. To remain transparent, we’ve provided a list of our current affiliate partners here.
Finance

Our Promise to you

Founded in 2002, our company has been a trusted resource for readers seeking informative and engaging content. Our dedication to quality remains unwavering—and will never change. We follow a strict editorial policy, ensuring that our content is authored by highly qualified professionals and edited by subject matter experts. This guarantees that everything we publish is objective, accurate, and trustworthy.

Over the years, we've refined our approach to cover a wide range of topics, providing readers with reliable and practical advice to enhance their knowledge and skills. That's why millions of readers turn to us each year. Join us in celebrating the joy of learning, guided by standards you can trust.

What Are the Different Types of Asset Management Products?

By D. Nelson
Updated: Feb 24, 2024
Views: 9,190
Share

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.

Share
WiseGeek is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.

Editors' Picks

Discussion Comments
Share
https://www.wise-geek.com/what-are-the-different-types-of-asset-management-products.htm
Copy this link
WiseGeek, in your inbox

Our latest articles, guides, and more, delivered daily.

WiseGeek, in your inbox

Our latest articles, guides, and more, delivered daily.