What is Asset Management Process?
The Asset Management is the process of monitoring the goods and tracking the order, company’s fixed or moveable assets for a financial accounting, preventive maintenance, and theft deterrence this is the purposes of asset management.
Asset management is essential for compliance and managing the bottom line, but, it becomes especially complex for organizations with multiple locations, field services workers, fleets and the other complex situations. Effective asset tracking solutions are critical for effectual location Observing, inventory counts, and oversight of maintenance, asset condition, and depreciation for high-value and business-critical assets. an organization can use asset management software solution that helps to automated tracking process with fixed scanners and bar codes, or asset tags with portable bar code readers that produce reports to help them manage their asset.
an organization can use asset management software solution that helps to automated tracking process with fixed scanners and bar codes, or asset tags with portable bar code readers that produce reports to help them manage their assets, If any company base on small skill it can also executing effective asset management, mainly, with the comprehensive, scalable solutions available today.
Benefits of asset management
There are many advantages of asset management taking such a global, holistic view of IT to ensure cost-efficient operations, achieve corporate objectives and maximize ROI (Return on investment), asset management helps to improve following points:
Operational efficiency:
Realizing efficiencies depends on aligning needs and requirements with existing abilities. what can be a benefit before more spending is considered? What can be disregarded to save money? asset management puts a full understanding of IT assets, there upgrade, capabilities, expectations, lifecycle, etc., at the disposal of executive decision makers to response these and other questions.
Maintenance savings:
At different stages of the lifecycle, assets require the different maintenance activity, so asset management can help to ensure spare parts and human resources cover corporate needs, without over-spending. Asset management also enhances the capability to take benefit of lower cost support contracts when hardware hits maintenance, usually in the 3rd or 4th yr.
Multi-site integration:
Organizations that boast many locations or multiple areas or multiple data centres can easily create inventory report and provide other IT asset information that may be insurers, auditors, finance executives, or others.
Risk management:
Having an IT function inherently entails risk, asset management system helps to identify the type of issues and what type of proactive solutions can be employed to avoid them
Accuracy:
It very difficult to keep track of all the pieces that comprise enterprise IT. with the help of strong asset management system, it becomes easier to tell when items are lost or stolen and deal with the underlying causes
