Asset Classification

An organization asset is any item that supports day-to-day operations and adds value for the organization.Facility management includes assisting people who operate within a facility with asset usage ranging from simple devices to high-value software subscriptions. The assets in a facility can be bifurcated into:

• Tangible Assets - Assets that one can touch, feel, or see are considered as tangible assets. These assets are physical or measurable items that facilitate seamless business operation. For example, land, vehicles, buildings, equipment, and so on.

• Intangible Assets - Assets whose physical form does not exist and could not be touched or felt are considered as intangible assets. These assets are virtual and help deliver uninterrupted services. For example, intellectual property, financial assets, software, and so on.