An IT asset is classified as any company-owned information, system or hardware used in
business activities. The IT asset management process typically involves gathering a detailed
inventory of an organization's hardware, software and network assets and then making
informed business decisions about IT-related purchases and redistribution.

An information technology (IT) asset is any piece of information, software or hardware that
an organization uses in the course of its business activities. Hardware assets include physical
computing equipment like physical servers in data centers, desktop computers, mobile
devices, laptops, keyboards and printers. Software assets, on the other hand, include
applications for which licenses are typically issued per user or machine, as well as software
systems and databases built using open-source resources. Software assets also include cloud-
based assets, such as Software-as-a-Service (SaaS) applications.