Showing posts with label Business. Show all posts
Showing posts with label Business. Show all posts
Against All Odds -Tips on How to Protect Your Assets
- Asset protection shields your assets
- Protect your possessions against credit claims
- Easily dismiss complaints
- Crucial in company security
1. A Good Investment
For example, when an individual opt to buy some insurance for his or her car or house that is already one good illustration of asset protection. In this case, finding some means to protect your property because you value most the things that you own and the money, time, effort, and hardships that you have employed just to acquire the items is decent and practical. Hence, people who insist that getting asset protection is an immoral thing does not know anything about asset protection in one way or another. Nevertheless, for people who deem it more necessary than just buying some properties without insurance, there are some tips that you may find useful when getting asset protection.
2. Consider the different types of asset protection
Basically, there are three categories of asset protection: wealth-segregation asset protection, insurance-type, and the liability-limitation asset protection. Each category has its own function and description.
3. When using wealth-segregation asset protection
Today, there are many ways and laws made to segregate one's wealth through asset protection method. In this method, you get to protect your assets that your creditors are aiming to get or your complainants who wish to obtain your assets. Good examples of asset protection are those that are stated in bankruptcy law. By filing bankruptcy, you get to protect your assets from imminent claims of your creditors. With bankruptcy proceedings, the court will usually issue a written order curbing your creditors from any claims against you or from continuous harassments. It is, however, still important to carefully consider such options before jumping into conclusions. Asset protection methods such as bankruptcy cases may have adverse effects on your credit history and may do more harm than good. So, when trying to utilize wealth-segregation type of asset protection, it is best to choose those that can safely shield your properties from any imminent danger without having to employ additional risk.
4. Insurance protection
This is one of the most common and well-known type of asset protection. Here, you pay certain amount of money in exchange of insurance policy that you will use in case something gets out of hand like accidents. The insurance company will be the one who will cover the cost of expenses incurred therein. In this way, you get to protect your asset against any claims of your complainants in lieu of the incident that had happened. When choosing insurance-type of asset protection, it is best to always shop around before deciding to get one. Keep in mind that not all asset protections are made equal and may vary from one company to another. That is why, it really pays to shop around and compare prices first so that you will get to choose the best asset protection for your property.
5. If you want the liability-limitation asset protection...
This type of asset protection entails the coverage for the assets incurred or invested by the company. This means that when things get out of hand, the company is bound to lose only the things that were invested by the company. It will not include the owner's personal properties and other assets outside the company's jurisdiction. Whereas, if a company does not have any asset protection, chances are, the owner will lose not only the things he or she had invested but all the other things outside the company as well, including cars and everything. Whatever protection it can give you, it is best to consider the rates and charges that it will cost you. There are instances that this type of asset protection usually charges big especially when the people behind the company who provides these asset protections know that they are dealing with a big business.
Article Source:
http://www.bestmanagementarticles.com
http://asset-management.bestmanagementarticles.com
About the Author:
John Morris For more great asset protection related articles and resources check out http://assetmanagement.taxnlegal.com
John Morris For more great asset protection related articles and resources check out http://assetmanagement.taxnlegal.com
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Asset Protection - Why Do You Need It?
With your growing financial portfolio and asset, it is imperative that you take steps to protect your assets. A practical solution for creating an additional umbrella of security for your family is to take advantage of asset protection that minimize the risk of losing your assets or being taxed heavily.
The three vital steps toward asset protection planning
To set up an effective asset protection, you have to:
* Be clear about your goals and objectives
* Plan early
* Plan safe
You are more than painfully aware that it took much effort to build up your assets. But you need to know that it takes even harder work to protect them. Beware that you do not start asset protection planning too late or you are only inviting trouble and headache for your family. Upon your death, there is nothing more gut wrenching than your family having to fend off greedy money suckers trying to lay claim on your family assets that should rightfully belong to your family. Even worse is fighting amongst your own family members for a bigger share of the family asset. If you do not want to put your loved ones through this, then for their sake, initiate the asset protection planning right now.
If you are a truly practical person, asset protection should be a part of your asset-building plan from day ONE.
Be Focused About Your Objectives
You must be sure of your goals and objectives in order to be able to draw up a well thought up asset protection strategy and plan. There can be no universal process to asset protection as every individual has different needs; you have to tailor it according to your future plans and objectives.
Follow The Law When Protecting Your Assets
Never ignore the legal aspects while dealing with asset protection. Of course you can divide your assets according to your own wish, but at the same time you have to abide by the restrictions put forward by law in this regard. A legalized deal will help you avoid all sorts of discrepancies later.
Whether you decide to set up offshore asset protection or asset protection trust, taking a little trouble to protecting your assets will benefit your family greatly, and they in turn will be grateful for your foresight and generosity.
Article Source:
http://www.bestmanagementarticles.com
http://asset-management.bestmanagementarticles.com
About the Author:
Protect your family assets with good Asset Protection at Asset-Protection-Group.info.
Protect your family assets with good Asset Protection at Asset-Protection-Group.info.
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Horizon Asset Management: The Key To Success
Production management is very important to running a business well. It is just as crucial that businesses consider asset management to be important. Without proper asset management, companies cannot expand, grow and stay ahead of their competitors. Because there are so many different types of business assets and this task is often complicated, working with an expert such as "horizon asset management" is imperative.
In the field of business, there are two strictly defined types of assets. One of these is movable asset, which can be physically moved. The other is immovable asset, which cannot be moved. For the company to profit, both types of assets must be evaluated with equal importance.
The next topic to cover is the concept of fixed, or immovable assets. These are the types of assets which directly will affect an organization’s productivity. A business must ensure that these fixed assets are constantly monitored. All of us make use of movable assets in our daily lives. An example of this is service on our personal automobiles. As such, movable assets have a great importance in our day to day lives.
The topic of business accounting plays an extremely important part in administering and managing assets. We must always look at the importance of accountancy in asset management. Each and everyone encounters road blocks in life, but during this time it may become difficult in remaining calm. If one is consistent in managing its assets the chances are you would come ahead in your financial problems with relative ease.
You should take help of the horizon asset management if you want to safeguard your assets for a safe future. In the field of asset management the valuation of property is very important. It is impossible for everyone to foresee the future. And just for this reason horizon asset management group guarantees that your assets are taken care of in the best possible way.
Production management is of great importance to the overall aspect of running a business. There are many types of assets to be concerned with, and the horizon asset management can help take care of all such assets. Business accounting plays an extremely important part in administering and managing assets. We must always look at the importance of accountancy in asset management. Each and everyone encounters road blocks in life, but during this time it may become difficult in remaining calm. If one is consistent in managing its assets the chances are you would come ahead in your financial problems with relative ease.
Article Source: http://www.articlenorth.com
George Purdy is a well-known public speaker on horizon asset management and has written several articles and essays on this subject matter. The following site on horizon asset management might be interesting for you.
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Duties Your Asset Management Company Must Perform
| The duty of your asset management company is undoubtedly to make a proper management of your business' reserves - better known as assets - but there are several other things that the asset management company must look into. Let us look into the duties that an asset management company is supposed to perform: - The first and primary duty is to keep and maintain a record of all the physical assets of the client's company. The most obvious assets to look into are the property and the finance of the company, but they must also look into investments, stocks, insurance policies, and anything else that constitutes money. - Asset management companies will also look into the bookkeeping affairs of the company. They will maintain the records for accounts, and will provide updated records in regular timeframes. They are sometimes expected to perform additional tasks that the company requires during taxation, such as filing of returns. - Inventory maintenance is also a responsibility of your asset management company. They have to keep all records of the inventory in stock, and even suggest limits for stocking up on them. They can alert the company whenever the raw materials are running low. Apart from the raw materials, asset management companies should also take care of the inventories of all supplies, devices and equipment used by the company for their business. - Asset management companies must maintain a list of all the suppliers to the company. In most cases, it is their duty to themselves communicate with the suppliers and stock up on raw materials for the company. Sometimes, they will also undertake to communicate with the wholesalers who take the products from the company for selling. That means, asset management companies would undertake a company's entire buying and selling process, if they are contracted for the service at the outset. - One very important service the asset management company must provide is investment advice. They must carefully instruct their clients how to make their investments properly, so that their financial assets show an improvement. - In some cases, asset management companies can also look after the software and other knowledge-based assets of the company. In companies that deal with software, the job of the asset management company would be to manage the knowledge assets, which may not be in a physical form. They will also be expected to manage the IT resources the company operates with. In this manner, there are several duties your asset management company must perform. Of course, you can decide in advance what kind of duties you really require, so that you don't end up paying for more. Also, you must draw proper contracts so that the mutually decided clauses are adhered to. |
| Author Resource:- With so many choices for managing your assets it is hard to know what company is the best. You need to find a company that is reliable and proven and invests your money in a way you are comfortable with. Let us Help! Kip D Goldhammer owns and operates http://www.assetmanagementcompanyreviews.com Certified Financial Planner |
| Article From New Ezine Articles |
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Creating Your Asset Management Team
Making Your Money Work For You
Step one for a Denver asset manager will be to address your goals. You want to get connected with an assert management company who will be able to put your needs first and not just decide on what they think is the best thing. Your goals should be the guiding force in any discussion you have with a Denver money management service. You need to make sure they know what you want to do in the long term as well as the short term. After they discover what your goals are, then they can start talking about what specifically you can do.
What about Retirement?
Retirement planning in Denver starts with the savings you have on hand and how you can build it up through further financial planning. If you are close to retirement, you need to get with a Denver asset manager who can go over how to build the biggest nest egg you can before your last day on the job. Retirement planning should focus around making your assets grow over the longest time period possible. No matter where you are on the timeline, you will be able to do this with the assistance of a Denver financial adviser.
Discussing the Money You Already Have
You may think you have plenty of money now. But that doesn’t mean that you will have enough to meet all of your future needs. You need to talk to an experienced Denver financial adviser, who can look at your situation and give you wise advice. The best adviser will be experienced in estate planning and can help you take care of your tax obligations and take into account bad moves in the market. Don’t start with a solid amount of savings only to see it run out when it’s needed most.
In a Denver money management specialist, you have an advocate who has the best interest of your money in mind. You can feel good that the money you’ve invested will be managed well and grown by managements with the best intentions. Sometimes, you will see that your money even grows more than you may expect it to.
Denver asset manager Patrick Johnson is one of those special managers who can give you piece of mind. His experience gives him the foundation to listen to your goals, help you plan and give you the help you need. Patrick has your best interests in mind and can help your money grow.
BlueWaterArticles.com: - Creating Your Asset Management Team
About the Author
This article is provided by Patrick Johnson of SimonDavis Asset Management, based in Denver, Colorado. Mr. Patrick D. Johnson, a certified financial planner. He offers asset management and financial planning services. As a Registered Investment Advisor, Patrick serves his clients within a context that offers the complete confidence that all recommendations will be objective and only in their best interests.
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Inventory Asset Management Software - Can It Save Time and Maximizes Profits
| Managing inventories is one of the most complicated tasks that an organization has to deal with if they have an global exposure. It is truly important to know how inventory are being managed before appreciating the true value of an inventory asset management software. How do we know we need this software? Each company need to examine how their staff track the inventory when access to the software was not given. Once this is determined, the management might decided to implement an inventory asset management system within the company. Can expenses be eliminated with the use of this software? More than 10 years, most companies employed staff to manage the company inventory. They might hired one person to examine all of the items ordered by the employees. He or she will then determined whether each order was approved. With the introduction of this system, it eliminates the expense of hiring such an employee. When routine orders are recognized by the software, the company only require one or two person to take a look at the requirements for new projects. If the orders for a new project were found satisfactory, then those newly-ordered items could be added to the information on the inventory asset management software. Can time be saved using this inventory asset management software? Some one decade ago, most companies relied on using paper to get their items ordered to be delivered to the right people. One or more staff would be required to receive, examine the invoice that came with each order. Then, the person in the receiving department would use a lot of their time taking the items to the right people. #1 This software eliminates the need for a long examination of paperwork. #2 The software can identify where each incoming item must go to. #3 It provides a way for keeping track of produce generated within the company walls. The ability for the software to keep track of product generation has often been the problem in research labs. However, in the absence of the software, the staff could not find a way to illustrate the extent of their production efforts. Lots of time are wasted in trying to retrieving the stored items in their warehouse. Therefore, the usage of an inventory asset management software saves company employees much valuable time. In conclusion, the software frees staff from the time-consuming task of finding a way to store items that had remained "under the radar" of the old system for keeping track of company inventory and allows them to attend to other pressing tasks. By doing that, most companies would definitely improve their efficiency and productivity thus leading to increasing profits for shareholders. This way, I am sure your company profits to soar to greater heights. With that in mind, Eddy believe he can help bosses to better manage their assets. |
| Author Resource:- Eddy Kong WW is the webmaster of a website called, Using Inventory Asset Management Software To Save Time. This shared resource will be able to help companies manage their assets better so as to improve their profitability and productivity. Drop by at his site now for more information on asset management. |
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Forex As an Asset Class and Financial Instrument
Forex has always been classified as an asset and an instrument of financial transaction including both the spot and futures market. By one argument, the forex market makes a pretty much bigger turn over on a daily basis than the commodities and services trade although conceptually forex is there to facilitate the latter two. Need any more evidence for forex's status as financial instrument and an asset class of its own right?
Sequentially, the logic goes that any financial instrument can be thought of as fit to be an asset class.
So What Is A Financial Instrument?
Any document, either virtual or real, which is assigned some monetary value and legally tradeable in the market as a package of an asset, is a financial instrument. The most traded one amongst all financial instruments is the equity based one.
Plain vanilla is an example of simplest financial instruments which has a simple strike price and expiration date. This option is devoid of advanced features but optionally there can be what is known as a knock-in option which activates the instrument only if the underlying stocks strike a preset price.
But coming back to the discussion of forex as an asset class, the overall foreign exchange traded daily has jumped by 38% between April 2005 and April 2006 and has more than doubled since 2001. One significant reason that can be attributed to this is growing acceptance of forex as asset class strongly backed up by the fund management assets such as hedge funds and pension funds. On the same breath, one can not negate the advent of easier internet based retail trading platforms which pitched into attract large volumes.
We have said that forex is an asset class. The asset class is basically categorized as debt based and equity based depending on whether the investor gets to own the asset or not. For example, debt asset is when an investor extends a loan to the owner of asset and the equity based asset reflects the ownership of the investor.
What Does It Mean To A Retail Investor?
The categorized forex asset class is a wise investment opportunity for a retailer. You can systematically acquire and hold a foreign currency, such as euro or pound sterling till it appreciates sufficiently over time. Speculative forex trading is another avenue but it is ridden with significant risk factors. Transnational executives hold a considerable amount of forex in their kitty.
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Choosing The Right Asset Tracking Solution
Many companies literally have assets accounting to thousands within the firm that requires tracking; this is because if a business does not correctly track their assets, this results to substantial financial losses.
Whereas traditional inventory provide you with information particularly on the number of assets your company has, generally it does not address those essential information attached to that particular asset, like location, maintenance, cost and utilization.
An implementation of an appropriate asset tracking solution within your firm allows you to efficiently track assets so that an employee for instance will know to locate a specific asset should it requires a maintenance confirmation, how old it is, determine its value depreciation as well as its maintenance cost.
An asset tracking solution can be hand-held based or PC and used to manage and track a companys assets. These assets can either be non-fixed or fixed and identified with a label that contains a distinctive bar code or number.
Asset barcode labels are efficient particularly when performing an audit. Benefits of asset tracking solutions generally include:
Track asset by location, building, supplier, user etc. Determine what your business has as well as that client or employee has them.
Enable you to calculate asset depreciation easily.
Obtain comprehensive reports.
Determine asset costs.
Reduce expenses because you know what you have therefore you will not buy the same items.
Spend lesser time looking for needed equipment.
Reduces items unreturned or lost.
Reduces borrowing with no permission.
Operate with a much tighter budget but with much better service
Asset tracking solution packages today are available with convenient import tools that gets you started on a simple inventory system quickly.
Types of asset tracking solutions:
1. Software-based asset computer tracking. For a tracking to start, a software is set up into you the hard drive of your computer, then it dials unto a central monitoring station on a specific schedule by means of an IP connection or modem so that if your computer is accounted stolen or lost, it is identified in a protected database in order that next time this computer calls in, its whereabouts is efficiently tracked.
2. Software tracking
By means of monitoring license software and license contracts compliance, organizations can successfully manage their software investment at the same time avoiding penalties and fines associated with non-compliance.
3. Barcode Systems
Generally this incorporates barcode tags with readers like handheld scanners, barcode wands and PDAs. These systems efficiently combine maintenance and valuation scheduling, location-centric asset tracking and other essential functions.
4. GPS Solutions
This uses a two-way satellite technology, capable on locating asset trailers and vehicles.
5. Proximity tagging
This is linked to access system control that helps to discourage theft, however should a certain asset disappear, this system can quickly track its location.
Here are features to look for when selecting the right asset tracking solution:
1. Navigation
This section covers the interfaces layout and design, including ease of access to principal program functions, data entry and general operation, thereby providing you with a general idea of how a user could easily get the system up and running.
2. Management Features
This segment recognizes how many books can be supported, available depreciation methods, asset editing utility and many other capabilities including mass edits, splitting assets and dispositions.
Also, whether the system supports barcode scanning or not, is addressed.
3. Integration
This segment identifies the ability of the system to share information with GL programs, tax software and supplementary accounting systems.
4. Reporting
Look for a system with reporting functions, including report and customization writer features and support for a variety of IRS schedules and forms.
5. Help and support
Look for a system with built-in help utilities as well as gauges support options available such as regular updates.
Determine whether these are already incorporated with the system license or does it entail additional purchase.
Without asset tracking solution, assets maintenance costs can not be determined, therefore you have practically no reference how much your assets are costing to run your business as well as your maintenance staff has no efficient record of work previously carried out that could assist them to fix a concern inexpensively.
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Top Asset Protection Strategies
Are you someone who has made a considerable amount of fortune in recent times?
Or are you a person who is self employed or in a white collar profession?
Are you in the medical profession?
Does your job require you to deal with people everyday?
Do you own rental income properties and earn income from them?
Or are you the owner or boss of a company?
If you happen to fall under any of the above mentioned categories, you need to consider planning for asset protection right away.
If you are not sure what asset protection is, asset protection is a type of advanced financial planning technique that helps protect your assets from any type of legal liabilities now and in the future.
Contrary to popular beliefs, asset protection does not mean hiding assets, and is not a trick to evade authority. Asset protection also does not involve deceptive agreements or fraudulent transfers. It is simply smart and safe financial planning. It uses the cunning of business and tools of financial planning to safe guard your assets from being extracted by outsiders who do not have any right to or claim on your hard earned money.
In a nutshell, asset protection is the simplest and most inexpensive way of safe guarding your assets in case the situation arises where there is a threat to your assets. These are simple strategies that will make it unnecessary for you to hire the services of attorneys and other experts if the situation suddenly turns against you.
When it comes to protection of your assets, there is no one-size-fits-all asset protection plan or strategy. Defining your goals and needs, and using common sense will ultimately help you to work out the best plan for protecting your wealth against unscrupulous people and endeavors. Below are some useful asset protection strategies:
* The first tip is to keep a low profile by resisting the temptation to show off your wealth and being extravagant. Do not own all your assets directly under your own name.
* If you have more than one asset, then register the names of each asset as separate legal entities.
* Stay away from any types of ventures involving general partnership or handshake agreements. Partners are more likely to drag you into all sorts of legal troubles where you and your assets become directly liable.
* The liability laws differ from state to state. Some states follow more stringent rules while laws in other states are comparatively more flexible.
* Do not trust your financial advisor fully. Before trusting somebody with your money, just remind yourself of all the scams that routinely appear in the front pages of the leading newspapers.
Even if you have worked out a foolproof asset protection plan, you should keep a liability insurance, so that if something unfortunate were to happen, the insurance will strengthen your defense.
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Autor: secmit
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Why Enterprise Asset Management is Vital for Any Company
Asset Management Elucidated
Essentially, asset management in any enterprise involves the effective administration of its physical assets, for the purpose of increasing profits and minimizing downtime expenses. The scope of this administrative function includes activities such as construction of facilities and fixtures, plant and office building design and engineering, production operations, and finally the maintenance of equipments and the replacement of the necessary parts.
As an example, physical assets would encompass machines like computers and printers as well as furniture like desks, chairs, and filing cabinets. Transport systems are also included, as well as cable and plant machineries, in the case of bigger industries. Of course fixed assets would differ depending on the type of industry the organization is engaged in, such as food production, textile, corporate services, or healthcare.
Thus, from the procurement of supplies and tools, operation of machines for production, to the maintenance of facilities, all these should be handled with asset value maximization in mind.
The modern approach to asset management by organizations and entrepreneurs has shifted from the traditional type, which had merely involved short term planning. Today, any organization is taking an active role in ensuring that its asset expenditures and utilities are geared towards achieving longer-term returns. Moreover, asset management is very crucial for enterprises that maintain units across various locations or those that utilize fixed assets in different departments within one unit.
Why this type of management is essential
Effective asset management commands importance in the same manner that physical assets play very important roles in the day-to-day operations of any industry. The purchase and the ownership of fixed assets, while very important in any business, require excellent management and maintenance skills. Entrepreneurs for instance, should have a system wherein the cost of owning equipment or expensive machinery is minimized at all times. Poor performance, downtimes, and repairs all add up to the cost of these fixed assets over time.
Machine repairs and equipment maintenance are indeed important for any industry; however these should be effectively carried out so as not to hamper the daily operations of the industry, such as the production processes. Furthermore, whenever equipment or system downtimes happen, this subsequently affects the expenses of the company. Planning and management of assets, costs, and maintenance should all be done to increase the life cycle of the assets and for the business to perform more effectively even in the face of rigid competition.
The Essential Tools in Assets Management
These days, EAM tools are available for complex organizations and industries. These tools provide the best solutions in work and asset management and even asset information management. These are all geared towards helping businesses maintain their plants, maximize equipment value, effectively manage information for sales, and coordinate with production and maintenance personnel for improved quality and competence.
Successful enterprise asset management is certainly a requirement for any industry, especially in today’s rapidly globalizing and extremely competitive business settings. Through this, industry managers, business owners, and company top-level executives will be able to optimize and organize the daily operations of the business for effective performance and profitability.
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The Importance of Timely and Valuable Asset Management Solutions
The core of industry asset management
Any organization or industry is held together by assets, both tangible and intangible. The assets of a business can range from the simple, like a piece of furniture, to the more complex and expensive, as in a transport system. The company personnel or human resources can be counted as assets as well.
Intangible assets can include copyrights and patents, as well the digital systems and information circulating within the business and across units. In asset management, the assets of an industry must be made to function optimally and to be maintained in such a manner that decreases costs and maximizes value.
When assets become mismanaged, the industry could suffer seriously. From the equipment to the personnel, the assets and resources of the business must be optimized for better productivity and value. In any organization, knowing the depreciation and the value of fixed assets is important, just as understanding how the work flow systems can be best applied by the employees or the organization personnel.
Simply put, assets should be viewed as profit sources, and it is important for any industry to be able to tap into the money-making potentials of assets. Managers should be able to identify assets from liabilities so as to improve on capital.
The central role of asset management systems
These solutions, or otherwise termed as asset management services, all serve to assist organizations in identifying the assets that they possess and effectively calculate the value that they are able to provide for the company. Presently, these solutions are available in software form, and are available from a host of asset management services providers.
These services are geared towards the effective organization of various asset types, from production and facilities to transportation and human resources. Both the hardware and software resources must be given due importance, seeing that information technology within the company also needs due focus. These management tools also aim to analyze the depreciation trends of fixed assets so as to help industry managers in valuable decision making.
Physical assets need to be estimated according to its depreciation value, and to arrive at a conclusion whether to reinstate or repair the physical asset, whichever is more cost-effective.
What to look for in the best asset management services
There are wide ranging asset management systems offered by vendors presently. It is important therefore to find the one model well-suited to the needs of your company or organization. Asset management can be narrowed down to specific types like investment management, IT asset management, digital asset management, and fixed assets management.
A good asset management system should be able to enhance assets return and minimize costs of operation and maintenance, as well as calculate risk. It should also promote labor efficiency and increase output efficiency. It must also provide information on how to effectively track hardware and software assets and to evaluate their functions both in the short-term and long-term sense.
The realm of business has become more competitive than ever, and with this knowledge, organizations need to keep pace with global competition and shifts in technology through timely and valuable asset management solutions.
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Asset Management in a Volatile Economy
Asset Management Strategy 1: Go for the solid assets
By solid assets, we mean assets that are not easily threatened by changes. If you have some stocks, which are highly volatile in nature, have some investments on established entities as well. This may oppose the “Nothing venture, nothing gained” adage but a certain measure of security is still vital for success.
Asset Management Strategy 2: Ensure support from the higher ups
The higher officers of your company must support your endeavor to managing assets of the company if it were to materialize fully. The support will also prompt other members in the company to be mindful of the undertaking.
Asset Management Strategy 3: Set your priorities
You must always have an outline. What are your priorities? If your priorities are to establish one’s security, you might have to be more rigid with your asset management tactics. On the other hand, if you are planning to venture out and expand your company, you may have to manage your assets in a way that it is more open for change and risk. However, you must make risks that are calculated and make sure that you can bounce back should things go badly.
Asset Management Strategy 4: Easy does it
Make changes gradual, if you are to introduce them. Don’t shock the system with revolutionary changes. In order for it to last longer, there needs to be at least a period of transition for any undertaking. The same thing goes with asset management.
Asset Management Strategy 5: Determine patterns and learn from them
If there have been instances that occur again, make sure that the current system is able to learn from its past mistakes. This self-learning quality is one of the ways in which you can ensure that the asset management system will be able to endure even the toughest economic shakings. It would be completely useless
Asset Management Strategy 6: Get the best tools available to you
If you are talented in managing assets but undermanned when it comes to resources, you may be in for a losing trend. The technology today enables you to manage everything from the desk and without much hassle. So make the best use of the technology while it is made available for you.
Asset Management Strategy 7: Review the facts regularly
Regular review is the lifeline of asset management. If your last inventory was a decade ago, then your assessment may not be at par with the demands in a company over time. Update the inventories, keep stock and review the statistics regularly. In that way, should hard times come, you will find that you have a ready answer because you know yourself fully well.
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Software Asset Management
Software is an Asset
One of the concepts that must be considered as a fact is that software is an asset. It is an asset in the sense that it can make a lot of favorable returns when you install it. At a fairly minimal cost, you will be able to get back what you invested in a particular software, especially if it is on a business setting. The thing about managing software assets is that you must first inherently believe that it is an asset to the company.
What are the software assets popular today?
Some of the more popular software assets today depend on the nature of your company operations. For example, if you are oriented on spatial data, you will find mapping software to be one of your greatest assets. Licenses for highly upgraded and updated software are quite expensive, so they need to be managed more carefully and in full detail. If you happen to be on a software business, the software inventory might be more than just a means of managing your software assets.
How do you manage your software asset?
Software assets may basically be managed by checking out license receipts and the like all over the company's operations. This way, duplication of purchases are prevented and you will already which software needs more updating than the others. A good record of the software bought will also ensure that you are able to keep track of your expenses when you are purchasing software. You might also consider getting a software that will actually help you manage not just your software assets but all the other physical assets in your company.
Constantly upgrading your software
Aside from taking inventory, part of software asset management is scheduling your upgrades. You must do it quite regularly so that you can be ensured that you get the best of all your software. Periodically inspect if the upgrades are working properly, and replace them immediately if they malfunction in one way or another. These little things may seem insignificant, but nothing beats the frustration of having wasted time because of menial things such as not having the right software when you need it the most.
Software Asset Management in the Organization
In the organization, a unified software asset management strategy is needed to be able to efficiently function with all the right updates needed by the company. If one component is updated and the others are falling behind, this still doesn't constitute effective software asset management. If you are really serious about getting it all right, all the other components within the organization must support your endeavors of making software asset management a habit.
Salient issues pertaining to Software asset management
Salient issues pertaining to software asset management involve miscommunication on the part of the software asset manager and the other end users of the software. Duplications due to loopholes in the updates of the software inventory may also cause a dent in the integrity of the software asset management system.
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What is Real Estate Asset Management?
- Operational Cost and Income Structure. We investigate the cost and income structure to identify opportunities for improvement. This can be active Supply Chain Management, combining the entire portfolio and in the next step bundling the buying power of different portfolios we manage in negotiations with suppliers.
- Capital Expenses Based on the results of the Due Diligence. We establish a rolling Capital Expenses Budget Plan which is kept up to date with the actual needs. We identify those investments that might bring a quick win through improvement of the rental situation.
- Organising and Supervising the Property Management. Based on a detailed scope of works we develop based on the investment philosophy of the investor, we help to identify and contract appropriate service providers for Property Management.Main tasks for the Property Manager is rent collection, dealing with tenants and service providers, maintenance and repairs within the framework set by the owner or his Asset Manager.
- Performance Measurement is key to our service philosophy: What you measure is what you get! (also see article "Performance Measurement in Real Estate Investment") We have developed a system of Service Level Agreements with Key Performance Indicators for Property Management including performance reviews and evaluations. We always incorporate a performance based element into any management fee, including our own.There is also the aspect of measuring the performance of each property in a portfolio and the entire portfolio against the business plan at the outset. This aspect is reflected in our performance focussed reporting. A separate posting for Performance Measurement will follow.
- Reporting in compliance with the needs of the investor/owner. We develop a reporting structure and make this part of any contract with Property Managers and/or Facility Managers. It defines time and contents of any regular or ad hoc reports. A summary report by the Asset Manager is available to the owner on an internet based Client Portal and is the Executive Dashboard.Applying the Balanced Score Card philosophy this report contains the actual data and performance against agreed targets. Besides the obvious like rental income, this might include tenant turnover (as a measurement of the customer care by the Property Manager), the meeting of reporting deadlines and financial management and other goals that are important to the investor.Operational reporting is also of growing importance for lenders. Not only in cases of securisations extensive quarterly reports are required. If you are interested to find out more about our reporting tools please check back weekly.
- Risk Management. Because financial institutions have to perform a risk assessment before any lending
, if the investor can show that he has his own risk management in place it will influence the interest rate positively. We establish and agree a risk matrix with the owner and actively manage it during the operational phase. - Outline Proposal. As a guideline we have prepared a generic Outline Proposal which will be detailed in each case for each investor and Property.For more detailed information about Real Estate Asset Management please visit the website of Berlin Portfolio Ltd.
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Author:
The author is a Berliner and active in the German property market for more than 25 years. Experienced as project manager, developer and head of the German Business for a UK based property consultancy he now owns and operates Berlin Portfolio Ltd. His international background and local expertise is an ideal combination for an international investor. Contact: E-Mail
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What Can You Learn In An Asset Management Training?
The first thing that you will learn is that assets also have lifecycles. It has four stages that all different firms consider. It starts with planning and then procurement. This includes considering which or what to procure, order, receive, and test. The thing is to manage daily business operations in order to take advantage of productivity. If you want to have balanced returns, you need to know the operation costs of the company and compare it with the existing assets and profits. And the last is ensuring the accurate payment of taxes, as well as considering amortization, depreciation, and other related costs.
Through asset management training, you will also learn to identify the right tools to use in asset management. Remember that the tools are simply elements to make asset management feasible. Each company and organization is unique and it has its own objectives and needs and so the processes used in asset management may also differ.
By definition, asset management is all about managing assets that were invested by different sectors. So if you want to become an asset management advisor or part of the team, you must undergo proper training and you should also have enough experience in order to be considered as one of the best in your chosen field.
You will learn from your training that assets consist of chairs, desks, factory equipments, computers, and buildings. You need to track all these assets but aside from that, it is also your responsibility to manage the demand for such accounts and resources for depreciation and asset values. By organizing all these pieces of information, you can have all the vital data needed by the company.
After the training, you can already espouse proper and timely management, tracking and asset disposal, and maintenance; and you can do this for corporations, companies, and even individuals. As an asset management advisor, you can help in managing the asset-loss risks through time. This is a very important aspect both for individuals and businesses. It can also help in increasing sales figures and handling costs over time. You can now maximize the utilization of financial assets.
If you want to become an expert or at least a knowledgeable person in asset management, you must get the proper training. Only through training can you gain knowledge and experience so that when you’re already out in the real world of business, you can perform at your best. So what are you waiting for? Be part of the asset management team or department and secure the right training.
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Author:
Sandra Stammberger owns and operates http://www.assetmanagementunited.com/assetmanagementtraining.html - Asset Management Training
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A strategic approach to asset management
Asset management is conventionally assumed to be a term that describes the processes carried out by the financial industry for wealth and portfolio management. In modern day business practice, this term can extend to equipment, infrastructure and even digital information. With company processes extending from the ‘cradle to the grave’, managing the stages of a companies asset lifecycle not only maintains them in good working order, it reduces the costs, increases productivity and extends the useful life of the asset. In capital intensive industries where the cost of equipment and systems is high, effective asset management can result in a significant improvement to a companies bottom line.
The monitoring and reporting process associated with asset management allows companies to make more informed choices about the distribution of resources. With inventory monitoring and pre-determined maintenance schedules, companies can reduce the capital costs associated with poor asset management and overstocked inventory levels. This capital can be reallocated to other areas of the organization for process improvement or business expansion. Managers can spend less time in fulfilling equipment requirements and more time on business initiatives that support the companies overall goals and objectives.
Asset management software permits companies to monitor and manage extensive information systems. With organizations increasingly dependent on information flows and critical data, maintaining system integrity and protecting infrastructure from external attacks has become critical for a companies operational viability. Monitoring software permits network scanning of hardware for external connections, data access and the installation of programs not approved as part of a companies technology mandate. With real time reporting and email alerts, it managers can reduce system support requirements and focus on central core it objectives. This ultimately improves productivity by reducing downtime and freeing up time that would otherwise by consumed by administrative tasks.
Asset management also supports decision making by improving business reporting requirements. Whether it be purchase, cost, replacement or maintenance issues, asset management software can provide business critical data ‘on the fly’ to know resource and capital requirements ahead of time. Integration with other centralized business reporting equips managers with important data for strategic decision making purposes across all business units. The modern demands of business require information be delivered in fast, efficient and meaningful way. An asset management framework can assist companies in this regard.
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Author:
Andrew Winthorp owns and operates http://www.asset-management-resource.com Asset Management. Learn more about the value of asset management to an organizations operational framework.
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