What is hard asset in SAP LOD-CRM - Large Enterprise on Demand Customer Relationship Management?

SAP Term: hard asset

• Component: LOD-CRM

• Component Name: Large Enterprise on Demand Customer Relationship Management

• Description: A tangible and physical item or object of worth that is owned by an individual or a corporation.

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• Key Concepts: 
  A hard asset is a physical asset that is owned by a company and has a measurable value. In the context of SAP's LOD-CRM Large Enterprise on Demand Customer Relationship Management component, hard assets are tangible items such as buildings, equipment, and vehicles that are owned by the company and used in its operations. 
  
  How to Use It: 
  The LOD-CRM component allows companies to track and manage their hard assets. This includes tracking the purchase and sale of assets, tracking depreciation, and managing maintenance and repair costs. The component also allows companies to track the location of their assets and monitor their usage. 
  
  Tips & Tricks: 
  When tracking hard assets, it is important to ensure that all relevant information is accurately recorded. This includes the purchase date, purchase price, depreciation rate, and any maintenance or repair costs associated with the asset. Additionally, it is important to regularly review the asset records to ensure accuracy. 
  
  Related Information: 
  The LOD-CRM component also allows companies to track other types of assets such as intangible assets (e.g., intellectual property) and financial assets (e.g., stocks and bonds). Additionally, the component can be used to track customer relationships and manage customer service activities.