Asset management template

Many of us think of finances when we hear the word "asset," but assets can be anything your company owns, from your office space to the raw audio file of your latest podcast episode. Your company likely has many different types of assets at any given moment. Managing all of them can get complicated if you don't have the right tools and systems in place.

That's where an asset management template comes in. In this article, you'll learn what asset management is, the different types of assets you can track, and how to build and use a template that keeps your team organized. We'll also cover the essential fields every template should include, who benefits most from using one, and when it's time to upgrade to dedicated software.

What is asset management?

Asset management is the process of organizing, storing, and coordinating your business assets. In other words, it's a specific type of project management for your assets. It can involve:

• Determining an asset's value

• Overseeing an asset's lifecycle

• Finding ways to get more value out of an asset

• Creating an asset inventory

Because it involves many components, asset management is typically a cross-functional process spanning multiple roles, departments, and teams. For example, it's not unusual for the CFO, a team lead, and an individual contributor to all be involved in the same financial asset management project.

Types of asset management

Financial asset management is just one type of asset management; here are the others:

• Digital asset management: Managing digital files, services, or products, such as media files or a company blog.

• Fixed asset management: Managing fixed company assets (assets that can't be quickly converted into cash), such as the plumbing inside your office space.

• IT asset management: Managing company hardware and software, such as Microsoft software subscriptions and cloud storage.

• Enterprise asset management: Managing physical infrastructure, such as machinery or company vehicle maintenance.

• Financial asset management: Managing financial assets, such as stocks and real estate investments.

What is an asset management template?

An asset management template is an outline of your asset management workflow. This provides a clear set of asset management steps for team members and colleagues to follow, thereby reducing confusion and producing more consistent results.

For example, let's say you're in charge of tracking company car usage each month. A key step in your process is to review how often an employee signs out a car each month. Save this (and other crucial steps) in your template so that even if someone else is managing the assets when you're out of the office, they know exactly what to do.

Benefits of using an asset management template

Whether you're a small business, a startup, or a large enterprise, creating an asset management template will help you keep your assets (and the teams responsible for them) organized. That's because your asset management template:

• Optimizes asset tracking: If you know what you have and where it lives, it's harder to lose track of your assets.

• Coordinates cross-functional efforts: Using a template ensures that all teams and departments manage assets consistently.

• Provides visibility: Stakeholders can see how you're managing assets, which is especially helpful for C-suite executives or for clients.

Note that not all asset management templates are created equal. If you build your template in a project management tool, it becomes flexible and interactive, giving you more capabilities than a simple Excel spreadsheet.

Spreadsheet template

• Requires manual updates

• Offers limited, file-based collaboration

• Relies on copy and paste for reuse

• Does not support automation

• Provides low cross-team visibility

Work management template

• Updates automatically in real time

• Supports built-in collaboration with permissions

• Allows one-click duplication for reuse

• Includes workflow automation

• Provides high cross-team visibility

How to use an asset management template

There's no strict playbook for managing assets. Assets can take many forms, and your company will likely have its own preferences for managing them. That means you'll want a template that's flexible and easy to use, or more than likely, you'll want to create multiple templates.

What if you need different templates for managing digital, fixed, and IT assets? Use work management software to build your asset management template. Once it's set up, you can coordinate all your related asset materials, connect risk management plans, add your resource management systems, and create clear roadmaps for boosting your assets'value.

You can create different types of asset management templates, including:

• Asset tracking templates

• Asset inventory templates

• Asset management process templates

• Asset management templates for specific types of assets (for example, digital, enterprise, or financial asset management templates)

What to include in your asset management template

Regardless of the type of asset management template you create, there are several key fields that help you keep things organized and consistent. Including the right fields from the start means less time spent searching for information and more time focused on managing your assets well.

Here are some helpful fields to include:

• Dates: List the purchase date, production date, or distribution date. This helps with tracking your asset.

• Assignee: Who's responsible for this asset? This is the person to go to for questions or updates on the asset.

• Asset type: If your company or team manages different types of assets, you can segment them here. Clarifying the asset type in your template reduces confusion when assets overlap (e.g., a software subscription could be treated as an IT asset or a digital asset).

• Priority: How important is it that you manage this asset? This shows stakeholders and team members which assets are a higher priority to the business.

• Status: Is this asset currently being managed by a team member? Let stakeholders see the status of each asset so they don't worry about whether you're managing them properly.

• Location: Where is the asset stored or deployed? For physical assets like equipment or vehicles, this field helps your team locate items quickly and avoid duplicate purchases.

• Value and depreciation: Track each asset's purchase price and current value. This is especially useful for financial reporting and helps you plan for replacements before an asset reaches the end of its useful life.

• Warranty and maintenance schedule: Record warranty expiration dates and upcoming maintenance windows. This keeps your team ahead of potential issues and prevents costly lapses in coverage.

• Specific asset details: Depending on the asset type, you may want to include additional details. For example, if the asset is your real estate holdings, you can include the purchase price, any revenue you've generated, and potential profits.

Who uses asset management templates?

While anyone can build and use an asset management template, certain companies, teams, and industries will benefit more than others. Here are some industries or departments that would greatly benefit from templatizing their asset management process, plus example use cases:

• IT teams: Use a digital asset management template to review and prioritize requests when co-workers need products or services. For example, create a template that automatically receives software license requests, assigns them to a team member, and sends the license to the requester.

• Manufacturing: Use your template to streamline your asset management system, including tracking your asset inventory and coordinating asset production across departments.

• Human resources: Similar to IT, an HR team can use a digital asset management template to coordinate professional services for employees.

When to upgrade from templates to asset management software

Spreadsheet-based templates are a great starting point, but as your organization grows, you may find that manual tracking creates more problems than it solves. Here are some signs it's time to upgrade:

• You're managing hundreds of assets: When your inventory grows beyond what a single spreadsheet can handle, errors and outdated entries become more common.

• Multiple teams need access: If several departments are tracking assets independently, a centralized work management platform helps everyone stay aligned.

• You need real-time updates: Spreadsheets require manual updates. A dedicated tool like Asana lets you automate status changes, assign owners, and set reminders so nothing falls through the cracks.

• Reporting is taking too long: If you're spending hours compiling asset data for stakeholders, a platform with built-in reporting features can save you significant time.

Moving to work management software doesn't mean starting from scratch. You can use your existing template as a blueprint and recreate it in Asana, where you'll gain features like automation, custom fields, and cross-team visibility that static spreadsheets can't offer.

Integrations and apps to use with your template

Asana offers a host of features and app integrations to use with your asset management template.

Integrated features

• List View. A grid-style view that displays all of your tasks at once, including titles, due dates, and custom fields like Priority or Status. It gives your entire team visibility into who's doing what by when.

• Board View. A Kanban-style view that organizes your project into columns by work status, such as To Do, Doing, and Done. Track work as it moves through stages and see where your project stands at a glance.

• Custom fields. Create unique fields to tag, sort, and filter work by any information you need, from priority and status to email or phone number. Share custom fields across tasks and projects to ensure consistency across your organization.

• Approvals. A special type of task with options to "Approve," "Request changes," or "Reject" a deliverable. Task owners get clear instructions on what actions to take and whether their work has been approved.

Recommended apps

• OneDrive. Attach files directly to tasks in Asana using the Microsoft OneDrive file chooser, built into the Asana task pane. Easily attach files from Word, Excel, PowerPoint, and more.

• Google Workplace. Attach files directly to tasks in Asana using the Google Workspace file picker, built into the Asana task pane. Easily attach any My Drive file with just a few clicks.

• Dropbox. Attach files directly to tasks in Asana using the Dropbox file chooser, built into the Asana task pane.

Start tracking your assets today

A good asset management template gives your team a clear, repeatable way to organize, track, and maintain every asset your company relies on. Whether you're managing IT equipment, digital files, or financial holdings, the right template reduces confusion and keeps everyone aligned.

Ready to move beyond static spreadsheets? With Asana, you can build flexible asset management templates that update in real time, automate routine tasks, and give your whole team visibility into what's happening with every asset. Get started and see how easy it is to manage your assets in one place.

FAQs about asset management templates