I once heard an IT manager say… “We do not need Service Asset and Configuration Management”! We have Asset Management and we can add a few more fields of information for IT in that database.” Is this true? Would this give the service provider the same value as a Service Asset and Configuration Management Process and System? Asset Management Most organizations have a process that tracks and reports the value and ownership of fixed assets throughout their lifecycle. This process is usually called Fixed Asset Management or Financial Asset Management. Activities in traditional Asset Management include such things as documenting the cost of the asset and projected life of the asset. Other bits of data captured might be the cost of maintaining the asset. For the most part this is financial information. Being able to determine the depreciation of an asset is year over year, Total Cost of Ownership (TCO) and Return on Investment (ROI) are key. Fixed Asset Management maintains