An effective asset management system allows companies to manage all the assets in your portfolio to create the most proactive operation.
Let’s learn more about this concept and how it works…
What is asset management?
In simpler terms, if we think of fleet management as incorporating all aspects of managing a fleet, asset management is similar, but incorporates all of the company’s assets, including its fleet.
Buildings, equipment, tools: indeed, the management of all company assets can be centralized in one place.
What is an asset manager?
An asset manager oversees the management of the company’s physical resources. By developing an effective asset management plan, you are able to develop, operate, maintain, upgrade and dispose of assets profitably. To this end, he participates in all aspects of management, performing administrative, financial and accounting management tasks of the company’s asset portfolio. Therefore, the asset manager must have in-depth knowledge of the company’s strategic and operational processes.
Sometimes, companies outsource this task and turn to specialized companies. These companies play the role of manager, analyzing the resources available to the company, the treasury and the finances available to guide the company in its investments to optimize its benefits.
How does asset management work?
Asset management provides a holistic view of the life cycle of each asset, meaning it will manage the resource from the time it is ordered to the time it is replaced once the asset is considered obsolete. This management can be followed using spreadsheets, but the most effective management is achieved with appropriate software, for example one to create a dashboard.
What are the advantages of asset management?
There are many. To be effective, an asset management plan must have the ability to look at all angles of available resources.
They are similar to fleet management programs, but can be applied on a larger scale.
This type of system allows everything to be centralized in one place and resources to be managed by anyone with access to the system from anywhere. Working collaboratively in this way allows companies to reduce both the overall capital expenditure and the operational expenditure associated with their assets.
Implementing an asset management program offers you the opportunity to anticipate financial, operational and legal risks, create more efficient operations and the ability to track performance, promote economic stability and business growth.