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About tracking the total cost of an asset

Asset Management Suite

Asset Management Suite lets you track all the costs that occur during the lifecycle of an asset.

On average, 25% of an asset costs come from the initial purchase and 75% of the costs are the services and the indirect costs that arise later. Tracking the total cost lets you keep track of all the costs that incur against an asset, a user, or an organization.

To track the costs that are associated with an asset, you use the cost items. You can apply the cost items to an asset manually on the Edit configuration item page, or automatically through the procurement process or through imports.

Tracking the total cost may involve any or all of the following costs:

  • Initial purchase cost

  • Contract costs

    Any contractual costs that are related to an asset are included in the total cost of an asset. For example, the software licenses that a computer uses.

  • Costs of the additional fixed assets or consumable items

    For example, you buy a mouse for a computer or replace the toner for a printer. The receiving feature in procurement process lets you automatically apply a fixed asset or a consumable item as a cost item to an existing resource.

  • Maintenance, servicing, and technical support costs

    You can extend cost items by customizing a workflow to apply cost items to an asset if a certain event occurs. For example, you can apply a cost item when an incident ticket is resolved with a particular closure code.

This task is a step in the process for managing configuration items.

See Managing configuration items