Asset management is a combination of tools and processes that proactively manage a company's entire asset base from a cost, contractual, support, and inventory viewpoint. This definition stems from the basics of a company's business functions; several common threads lead to a fundamental definition. At the root of business you find a basic equation: assets+people=profits. Since this equation underlies basic business fundamentals, business managers must support each aspect of the equation, and asset management tools and processes must address each area. Companies must possess certain competencies to maximize their effectiveness in each area. Ownership data allows companies to look at their asset base from a strategic business perspective. Help desk and deployment tools remain tactical tools to solve today's problems. Separately or together they do not constitute asset management. To truly manage assets we need all three competencies. Help desks support people and deployment tools support the assets. Ownership management tools support the process by maximizing asset use while lowering the cost of ownership.