Asset Management

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Horizon Asset Management: The Key To Success

Asset management is key to a company’s continued growth. If a company’s assets are properly managed, its production is likely to increase greatly. Every company needs to pay attention to asset management, from multinational corporations to small local businesses. Most business people around the world now recognize that asset management is an important part of their work, and this article will detail some of the more important aspects of asset management.

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.

Choosing The Right Asset Tracking Solution

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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.

Source: Free Articles

Autor: infocus

Why Enterprise Asset Management is Vital for Any Company

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In any business organization, enterprise asset management is vital in achieving a greater return on assets. This primarily involves curbing operating costs, maximizing results on periodic asset maintenance, and effective management of capital. In any industry, the employees also need to recognize the importance of asset management, and have the knowledge on a variety of asset maximizing responsibilities.

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.

The Importance of Timely and Valuable Asset Management Solutions

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The need for effective and efficient asset management has given way to a range of asset management solutions. The assets of a company all play significant roles in the achievement of corporate goals, and therefore must be utilized and managed optimally. Asset management in the modern age has become all the more critical, seeing that technological and information changes have shifted the way industry managers and company leaders make vital decisions.

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.

Asset Management FAQs

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Although asset management has been around for some time now, its popularity among industries has only been apparent in the last few years. People do have quite a number of questions regarding asset management especially if they are interested in employing the services of asset management companies.

What is asset management?

Asset management refers to the method that a company or a specialized asset management firm uses to track all fixed assets such as equipment, chairs, tables, computers and technology and even building which are owned by a company or an individual. The tracking of he physical location of these assets, the ways which can be used to manage these assets, and accounting for amortizations, depreciation values and future resale values of these assets are also part of asset management.

How can asset management be an affective financial tool?

Asset management makes it easier and more efficient to manage the assets owned by the company or the individual and looks into ways of investing these assets for added returns. Collective investment schemes, pension funds, private banking and wealth management are some of the ways which handle assets that make asset management more efficient and increase one's assets.

What are the processes involved in asset management?

Asset management involves a number of processes which are all designed to increase the productivity of companies or individuals. Asset management services include planning, procurement, accounting for daily operating costs through disposal; tracking physical location of these assets; and accounting tasks such as amortization and depreciation. Asset management also establishes contact with suppliers which make it easier for companies to contact these suppliers for service, warranties and replacement.

Why is asset management useful?

When one keeps track of important information regarding one's assets, assets may be properly accounted for, from whom these were purchased from; who uses these assets, where these assets are located, the suppliers to contact for support, and even lease expirations and the right disposal period may provide the basis for managing and optimizing the assets of the companies or the individuals.

Asset Management provides detailed information on Asset Management, Asset Management Software, Asset Management System, Digital Asset Management and more. Asset Management is affiliated with Offshore Asset Protection.

Article Source: http://EzineArticles.com/?expert=Alison_Cole

Fixed Asset Management

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Fixed asset management is an accounting process that seeks to track fixed assets for the purposes of financial accounting, preventive maintenance, and theft deterrence. This applies to all industries because doing so makes the workplace more productive.

Without fixed asset management, the equipment and resources of the company are not used both effectively and efficiently. Think of it like a car. If you do not have the oil changed, it will break down. The net effect is being able to save money instead of spending it on repairs which could have been avoided in the first place.

This is why companies take various steps to manage these closely. For instance, machines that are used undergo regular maintenance. If anything needs to be replaced or replenished, this is ordered well in advance so there will not be any disruptions at the workplace.

If the machines are already obsolete and there are newer models that can do a better job, management must consider the costs of buying it or maintaining the old one. In recent times, new equipment is purchased to avoid being left behind the competitors.

Management also has to coordinate with the various departments in the company to see how each one is doing. This is done on a monthly basis to determine whether the company is achieving growth. If it is not, find out why and then do something about it.

For large companies that need to ship goods nationwide, management has to check on their logistical support. Will it be cheaper to maintain their own set of trucks or should they outsource this to someone else?

If the company is experiencing some hard times because of a few companies that are not pulling their weight, management has to decide whether to sell it or find a way to improve it. Should there be an opportunity to gain something, then they also have to consider if this will be beneficial to their portfolio.

Companies also let their auditing teams conduct an inventory to take into account their fixed assets. Sometimes, they may need outside help to do it and there are a number of established companies that have the manpower to do exactly that. They can even suggest to management improvements that need to be done that may well be worth the expense of hiring seasoned professionals.

In order for management to see how well the company is doing, the asset management data has to be put on paper. These days, this means computerizing everything so everyone in management will be able to give their input and agree to a suitable plan.

Fixed asset management is what every company needs to survive in the 21st century. This will serve as a guide whenever money has to be used to buy things or whether the funds of a certain project have to be diverted elsewhere.

Before any decision is made, they have to ask themselves a series of questions. For instance, will this be good for the business long term? How much can we make? How much do we stand to lose? Is this the latest technology around? Is this the best thing in the market today?

These are just some of the questions that companies have to ask themselves in order to practice effective fixed asset management.

Achieving Successful Asset Management Growth

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Asset management growth is indisputably one of the goals of any business organization. This is tangible evidence that the industry has undertaken successful asset management, and is already experiencing general growth and improvement. It also implies that the enterprise has chosen the right asset management system and module, one that works compatibly with the already existing systems within the company.

Asset management gathers even greater importance during these technologically advancing times. Gone are the days of manual work; the administration of assets today has certainly evolved to include diverse and complex database systems and reliance on accurate and timely information.

What makes for effective asset management?

Asset management should be on the forefront of the strategies being adopted by any industry. However, it will be futile to speak of asset management merely on the tangible sense, since the generation of businesses nowadays relies heavily on technological systems and data maintenance. Thus, in order to be wholly effective, asset management must allow for both the hardware and software assets of the company.

Essentially, asset management must make room for the effective organization of production, facilities, transportation, and even digital assets. The budgeting, procurement, maintenance, and depreciation calculation of the fixed assets must be undertaken with value maximization and cost minimization in mind. Asset management solutions being offered to various industries nowadays have organizational modules on managing assets, human resources, materials, and softwares.

Asset management systems must provide tools for improvement on assets return and cost-cutting of asset ownership. These systems must also assist in license compliance and promote enhanced security. Especially for businesses that span different branches in different locations, a good asset management solution must have facility for assets tracking, whether these assets are physical or intangible.

The growth goals of asset management

In order for asset management to be successful, it must be able to achieve several goals. First of all, it must assist industry managers in making the best use of its assets. It must be able to pinpoint which assets need to be worked on, and which of these are just being idle. Simply put, asset management is geared towards bringing about greater value from the assets of the company, and using them to achieve more competitive performance and productivity.

Asset management tools should also be effective in the curtailment of asset ownership and the calculation of asset-related risks. It should also be able to provide for accurate inventory control and data storage. Most of all, it must engender wiser decision making where assets management is concerned, in the face of consistently shifting technology and cutthroat competition.

Why asset management is essential for organizational growth

Asset management encompasses not merely the actual physical and intangible assets of any organization, but more importantly, the effective utilization of each. This essentially means that asset management caters to various disciplines- from administration to engineering, and from production to information management.

With successful asset management, growth is imminent. Labor and production becomes efficient, downtimes on equipment and facilities are minimized, and the total cost of fixed asset ownership is significantly reduced. Solutions for better asset management are available from providers, all offering different solutions to the more specific asset-related concerns. Organizations must be able to pinpoint the areas that need to be enhanced, seek the assistance from management solution providers, and to work alongside these management tools.

Asset management growth is not a one-way street, nor is it expected to happen in a momentary tick. Asset management will continue to shift and evolve, and industry managers must be able to understand this from the beginning, to achieve the most favorable results for the entire organization.