Asset Management: Solutions For Capital, Equipment And Technology Management

Asset Management

Asset management refers to the processes and procedures used by companies to manage finances, information, hardware, software and equipment. In the traditional sense, the term 'asset management' is usually associated with the practice of funds management, wealth management, portfolio management and anything to do with the management of products associated with the financial industry. In actual fact, asset management systems in the modern business environment can literally include anything that is tangible or intangible. In companies that are capital equipment intensive, this will include hard assets such as machinery, equipment and infrastructure. Companies that are data dependent place a high value on the sensitive and proprietary nature on their data information. Compromising system data could paralyze and render an organization inoperable. Asset management solutions, therefore, have a considerably broad scope and take on differing degrees of significance depending on the nature of the organizations business.

Enterprise wide asset management seeks to optimize processes for performance improvement and to manage the lifecycle of the asset. This permits reporting and strategic decision making from the 'cradle to the grave'. By modeling and monitoring the companies assets, maintenance can be scheduled on an as per need basis rather than pre-established set time. This reduces maintenance costs and eliminates inventory. Capital savings can be redeployed to other areas of the companies business to support business expansion or process refinement. It also reduces labor costs and avoids costly downtime that can result from poorly managed maintenance practices. Strategic reporting and planning that results from asset management software empowers senior managers to make purchase and disposal decisions.

Asset Management

Asset management technology solutions also provide the ability for companies to track and resolve problems. Advanced asset management software now supports barcode reading and sophisticated 'GPS' tracking allows companies to monitor the location of assets in real time. Mobile asset management inventory software improves the accountability of assets and acts as a deterrent for corporate theft. Corporate hardware solutions also monitor company infrastructure which is important for maintaining data integrity. With the ability to scan local personal computers for hardware and software status, companies can detect when proprietary data has been accessed, detect penetration points, remove unlicensed or prohibited software and safeguard against malicious intrusion. With companies increasingly dependent on integrated information flows, compromising system processes can cause significant damage if systems are rendered inoperable. Asset management solutions safeguard important systems processes and should be part of any strategic and responsible information technology framework.

Companies derive productivity, cost savings and extend the life of their business assets by utilizing asset management utility software. With companies becoming increasingly integrated on a global scale, enterprise asset management solutions can increase business transparency and enhance business decision making. 

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