---
sourceDocument: Australia IT Service Management
sourceDocumentLink: https://servicenow-prod.fluidtopics.net/r/it-service-management

 Release :

    - australia

ft:locale :

    - en-US

ft:publication_title :

    - Australia IT Service Management

ft:clusterId :

    - itsm

bundleId :

    - itsm

workflow :

    - Technology


---

# Base Asset Management

# Base Asset Management {#ariaid-title1}

Release version: Australia  
Updated March 12, 2026  
![](https://www.servicenow.com/docs/portal-asset/ico-clock) 1 minute to read  
The ServiceNow®
Asset Management application
integrates the physical, technological, contractual, and financial aspects of information
technology assets.{#c_AssetManagement__ovy_3pk_rx}  
Note:  
Beginning with the ServiceNow AI Platform® Washington DC release, we will provide limited support for the Asset Management Core UI interface. While it remains active in your instance, including when you upgrade to a new ServiceNow AI Platform release, we encourage you to move to the new workspace experience. For more information, see [KB1584548](https://support.servicenow.com/kb?id=kb_article_view&sysparm_article=KB1584548), [Exploring Asset Management
Workspace](https://www.servicenow.com/docs/access?context=exploring-asset-management&version=australia&pubname=australia-it-asset-management&ft:locale=en-US) and [Next Experience UI](https://www.servicenow.com/docs/access?context=next-experience-landing-page&version=australia&pubname=australia-platform-user-interface&ft:locale=en-US).  
Asset management business practices have a common set of goals.

* Control inventory that is purchased and used.
* Reduce the cost of purchasing and managing assets.
* Select the proper tools for managing assets.
* Manage the asset life cycle from planning to disposal.
* Achieve compliance with relevant standards and regulations.
* Improve IT service to end users.
* Create standards and processes for managing assets.
{#c_AssetManagement__ul_gn5_b3h_w4}

Asset Management and the Configuration Management Database (CMDB) are related, but have
different goals. Asset Management focuses on
the financial tracking of company property. Configuration management focuses on building and
maintaining elements that create an available network of services.
**Related topics**   

* [Domain separation and Asset Management](https://www.servicenow.com/docs/access?context=domain-separation-asset-management&version=australia&pubname=australia-it-asset-management&ft:locale=en-US)