Patent ID: 8504683

Claim:
A system configured to manage a plurality of information technology (IT) assets associated with an entity, the plurality of IT assets including software assets, hardware assets, or both software and hardware assets, the system comprising: a common database that stores an asset profile for one or more IT assets of the plurality of IT assets, wherein the asset profile includes information related to the one or more IT assets; and a processor configured to provide: an asset ownership, manager configured to receive ownership information relating to ownership of the one or more IT assets, wherein the received ownership information is stored in the asset profile, and wherein the asset ownership manager is further configured to generate or modify ownership information that is stored in the asset profile, and an asset process manager configured to receive process information relating to a process associated with the one or more IT assets, wherein the process includes passing information by at least a first participant to a second participant, wherein the first participant or the second participant is an IT asset from the one or more IT assets, wherein the received process information is stored in the asset profile, and wherein the asset process manager is further configured to generate or modify process information that is stored in the asset profile.