Asset management is the effective and efficient oversight of resources, both tangible and intangible. It is most commonly seen in physical assets such as buildings, infrastructure, and equipment. Managers use advanced analytics and technology to optimize the performance of these assets over their life cycles. They strive to protect a business's bottom line by improving ROI with strategies like cost reduction or reinsurance. Implementing the right system can help streamline processes, improve risk mitigation, enhance customer service, and increase workforce productivity. In an ever-changing environment where new regulations are regularly introduced, asset management is vital for companies of all sizes.