Asset Management

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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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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.

Asset Management For Web Developers

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When building large scale database driven web applications which require the development effort of numerous individuals and interoperating teams as well as networked access to a central repository of assets in the form of PHP code, HTML documents, images, source code, media files, and documentation it can help to organize the workflow by keeping track of data and intellectual property assets using specially designed asset management software applications that allow for a meta searchable database of digital media and a check in/check out system to allow multiple designers to work together without doubling up on the same task.

Asset management software isn't just for enterprise class development anymore. SOHO users will find software such as Canto Cumulus asset management software to be scalable to even the needs of a small design house with only 3-4 developers.

No matter what kind of web development you are doing, proper asset management is key to an organized workflow, especially on projects that depend on numerous individuals and teams and requires the document to "change hands" and allow for the scrutiny of the entire team during every phase of design and development.

Asset management solutions allow for a more disciplined approach to portfolio cataloguing and media library organization, which can help developers contemplate their creative palette and visual media assets more thoroughly and completely when selecting templates and production from the company's supply of IP.

If you find that your design team is having trouble maintaining a manually organized library of content and intellectual property and you want to have a library witch allows for rich meta tagging and highly organized searching and browsing, you should research investing the time and effort into setting up an asset management solution for your company today! The time and effort you put into an asset management system today pays off ten fold through more efficient workflow and library management.

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Free Asset Management Software

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Can you get asset management software for free? The answer is yes but there only a handful of them around. Whether it is free or not, it is truly something that companies need in order to prevent duplication. While most vendors sell these to companies, those who are unsure whether the system will work for them can avail of free trials which can be used for a short period of time.

If your company has an information technology department, then chances are they can probably make one on their own. However, not everybody can do that so you better read on to know which ones are giving this out for free.

One company that comes to mind which offers free asset management software is SysAid. You can download the freeware from their website and then use it. The only limitation is that their program can only work for organizations that have less than a hundred computers. If you are happy with their system, you can buy the full product by submitting your details then a company representative will get in touch with you.

Another company is Footprints. You can download their asset management software program for a 30 day trial period. Afterwards, you have to pay in order to continue using their services.

But asset management software can be used for others things than just monitor the inventory of a company.

It can help guide management’s decision in dealing with non-profitable assets. If there are certain offices that are not making money, it is best to just close it even if it means cutting a few jobs from the workforce. If there is surplus, the company can convert this to cash by selling these off to potential buyers. Also, if the current equipment is already outdated, there is reason to upgrade this to something better.

One other aspect of asset management software is its ability to catalog music, videos and pictures. Technically, such data are assets of the company and these are better known as digital asset management systems because everything is encrypted digitally.

This will enable the user to get this based on the format of their choosing. Some sites that offer this users are YouTube and Multiply. But this could not be possible without the media, entertainment and advertising agencies that first used this as they needed to archive their vast video library.

It is forecasted that more companies will utilize asset management programs in the future. But those who decide to invest in such a system should remember that it is merely a tool that is to help the company. Somebody has to be trained how to use it so this can be accessed by every department via the intranet.

Are asset management software applications only for large companies? The answer is no because there are versions for personal users. These may be hard to find so it is best to just stick with web based applications.

The chances of getting free asset management software are very slim. But aside from the two mentioned, there are others to choose from so if you are in the market, it is best to look for these online. It is best to read reviews and blogs that are written about them or see it for yourself by trying the free trial version first before buying the program.

Asset Management Software: the Secret of Efficient Businesses

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Naturally, all businesses need to manage their physical and non-physical assets regardless of their size. Call centers, manufacturing firms, sales companies and other corporate offices need asset management. Everything needs to be watched from the point of choosing the assets, initiating and maintaining them, up to the point of finding no use for them and disposing the assets.

All these processes are important in determining the efficiency and organization that goes into running a company. Without making the right choices for asset management software, many disadvantages may be posed to the optimization of profits and to the business in general.

Using Software in Businesses

First of all, the assets we're talking about here is virtually anything the company owns from office supplies, company vehicles and machines to copyrights and patents. What this software does to these assets is that they keep a record of them for the company. After all, these such assets do depreciate over a certain period of time and need to be disposed of when their full potential has been marginalized.

The company doesn't need to hire people to keep track of maintenance and replacement schedules, resulting in too much people on the payroll and more expenses to slough off money on. With asset management software, you can be sure that your assets are in mint condition and are replaced efficiently when they need to be.

Once you have the software, the only manual thing you have to be doing is to run the asset management program and make sure that all assets are accounted for and all damages are reported to the respective people in charge. More importantly, in the event of emergencies that cause certain losses in assets, the company will have a detailed report of what they own and what they lost, all organized by the protocols of the software.

Specialized Software Available

There are three common kinds of asset management software being used in the business world today. Automated data collection software is used as a time log of all processes involving the assets. Inquisitive software is responsible for checking out IT systems, codes, hardware systems, software and other digital assets. Repository software has the more clerical type of job in that it archives and organizes data files for easy access, uploading and retrieval.

Making Choices through your Options on Asset Management Software

Before you begin browsing through the different kinds of software available for your company, the first thing you need to ask yourself is if the company needs it. Are certain processes being held up because of delays in maintenance and repairs? Do you find that there are discrepancies in the way certain assets of the company are being managed? If so, then you can try your hand at investing in this type of software.

There are some aspects that you may need to be looking into when you decide on it. How much does the software cost, and is it worth it or will you end up spending more than if you have people manually managing assets? What kinds of services do you need the software to be doing for your company?

How many people in the company will be running the asset management program? Is it available for international use or is it limited to local usage? With the answers to these questions, you will be able to find the asset management software that is perfect for optimizing the business processes in your company.

Industrial Asset Management

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Industrial asset management is the trend these days in order for a company to optimize profits. This is done by exploiting assets to the fullest by taking consideration not only the measurement of assets and resources but also analyzing data, current market trends and quickly taking business decisions based on information collected. In short, you take everything into account to ensure productivity.

This is achieved by first identifying what are the current resources. This could be capital investments or the plant itself. Once it has been identified, it is time to come up with policies that preserve them. Some companies keep track of this by using asset management software that makes the information accessible to all departments.

This program is better known as enterprise asset management systems. It was first developed in the 1960’s with improvements being done constantly so it may encompass all the stages of the asset life cycle from planning, designing, purchasing, installing, operating, maintaining and finally disposing. Customized maintenance management software forms the subset of EAM.

With the assets stored in the company’s server, this will ensure that it is not possible for the duplication of resources. This means not having to spend money on new equipment and supplies when there it is still available in the company’s inventory.

Another benefit of industrial asset management is that the company can focus their energy on non-productive assets. This will enable the company to convert for instance idle land into real estate development or simply get rid of this by making some money out of it.

This is very useful for banks that have confiscated assets which the clients could not pay for and then auction these off to interested buyers so money can be made.

Should there be a surplus after taking everything into account, they may also decide to sell these off and make a few bucks. To compute the selling price, it is best to inspect it, have it appraised then advertise so interested buyers will come over and buy it.

Industrial asset management may also work for those who buy the goods from the company in terms of inspection of the assets for sale, contract reviews, search and comparisons to see if there are any alternatives and the procurement and shipping of the item.

Industrial asset management can do one other thing for the company. If they see that there is something they lack and there is an opportunity to acquire it, they can check if it can be added to their portfolio so the company is able to grow.

Companies that have used the software include aerospace, automobile, mining and service companies because even if they do have assets worth billions of dollars they do not want to see a single penny go to waste.

Will installing a software program to monitor industrial asset management do the trick? The answer is no because you still need management to be involved throughout the whole process. Each company has different needs and these have to be addressed accordingly.

Industrial asset management is a good thing because it helps the company stay productive. You have to remember that it is simply a tool so there is still a lot of work to be done to ensure you get maximum returns on your investment.

Asset Management for Business in the Digital World

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The traditional definition of asset management is that it is a well-organized process of maximizing the utility of assets for a long period of time with the objective of providing benefits to the community. It involves engineering and business concepts in that it maintains the quality and usability of assets through an engineered framework. Today, it has greatly progressed in the way it gets the job done. In this article, you'll find an overview of the process of managing assets and how it has evolved to meet the public's needs in the 21st century -- a digital age.

Functions of Basic Management of Assets

If you work in the field of managing assets, you'll be expected to work on an asset from full to zero potential. This means that you are responsible for seeking out the necessity for such an asset based on public demand, initiating and maintaining the operation of the asset throughout the time of its usability, as well as the termination of the asset when it has no more use for any benefits to the community or to the company.

Digital Management of Assets in a Business

Manual management of assets may sound like such a tedious job considering that it must be looked after from beginning to end. With that in mind, one of the many brainchilds of the digital age is digital asset management. It has become a useful tool especially for big and branched out organizations that have resorted to electronic management of data and files for a more efficient time schedule in the workspace.

This doesn't mean that only multi-national corporations and worldwide franchises can use the digital process. Even small businesses can utilize this kind of software to cut on labor costs and other expenses that are unnecessary and take up a lot of time. After all, what's a digital age without adhering to the times?

In the context of a business, for example, DAM or digital asset management essentially includes uploading and storage of files, backing up files for safety, and renaming and organizing files in folders for easy retrieval. They're easy for computers but tedious and somewhat boring for people to do all day.

There are different kinds of software that businesses and organizations employ for DAM, but are too complicated to explain here without needing computer software jargon. The most important thing to know is that DAM is one of the necessary business strategies to utilize considering the increasing demands of consumers today.

DAM helps a company run more smoothly with automated protocols and quicker responses. They are able to incur, maintain and dispose of assets at a faster and more efficient pace. Press kits, sales kits, marketing and advertising data, presentations and videos are easier to get by with DAM because of its archiving features and multimedia libraries.

Having DAM to sort out all the data files mentioned previously can cut off a big chunk off the company's time. Now there is more time for businesses to focus on brainstorming for marketing and advertising, optimizing profits and community benefits, among others.

Essentially, DAM helps not only to set the wheels in motion but also to set the pace at full speed, thanks to the continually developing software in cyberspace. More and more businesses, regardless of size or sector, are beginning to see the advantages of investing in digital asset management software for a better and more efficient approach to data management.