Asset management is the practise of keeping track of your assets. Asset management allows you to efficiently manage assets while also extending their lifespan. With good asset management, you can improve the performance of each asset. The majority of the time, it's utilised to keep track of assets. It is the process of maintaining and operating assets in a cost-effective manner. In medium-sized and large-sized businesses, there are numerous assets. We can gain deep visibility of assets when asset management is connected with ERP. Managers will have a greater understanding of their assets and will be able to make better decisions on asset lifecycles, maintenance, and so on.