An organization’s physical assets (e.g., desks, computers, chairs, etc.) are often involved with major expenditure, which means that it’s in an organization’s best interest to avoid losses in this area wherever possible. Asset management is a system by which these physical assets are catalogued in a single system of record as a means of minimizing losses and maximizing value for existing equipment. Proper asset management can lead to a reduction in overall equipment costs and increased returns from property as management avoids unnecessary expenditures and cuts down on the chances of items randomly going missing.