Asset Management

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QAD Enterprise Asset Management

video introduce enterprise asset management

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.

Source: Free Articles from ArticlesFactory.com

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.

What is 'good' Asset Management?

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Asset Management is the management of physical assets (their selection, maintenance, inspection and renewal). Asset Management is the art and science of making the right decisions and optimizing these processes.

The different asset classes are stocks, bonds, real-estate and commodities.

Infrastructure owners have used ‘Asset Management’ to describe the caring for, making best use of, physical plant, infrastructure and facilities. (Interpretation of British Standard Specification PAS-55)

PAS-55 highlights the need for performance-accountable asset-business focus. Asset Management system is how an organization delivers its business goals with a clear picture of how and why business intentions are converted to ground reality.

PAS 55 defines Asset Management as “Systematic & coordinated activities and practices through which an organization optimally manages its physical assets and their associated performance, risks and expenditures over their lifecycles for the purpose of achieving its organizational strategic plan.”

How does a company get there? How do we know, and demonstrate, what is ‘optimal’? How can responsibility be established? How do we develop the skills, tools and processes to establish and sustain such an environment in the first place?

Industrial process, utilities and service companies have, over the last 5 decades developed greater specialization in niche functions. The effect of this has been to create more and narrower silos of contribution – design, construction, operations, maintenance, human resources, finance etc.

At senior management levels, the adoption of an “Asset Management” model has been interpreted to mean a new mix of functional responsibilities (new silos?):

- Asset ‘Owners’ – dealing with regulators and other stakeholders - Asset Managers – decisions on direction and strategy - Service Deliverers – work resources & methods

This emphasizes the need for directional thinking (what is worth doing, where, when and why), not just delivery efficiency (doing the same thing quicker, cheaper). ASAP Systems has 20 years of experience in Inventory Control Software and Asset Management Solutions.

Inventory Software & Asset Management

ASAP SYSTEMS

Asset Management 101

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When one is interested in knowing how asset management works o benefit their companies, it is very important to get to know how asset management really works. This includes the services that asset management employs to handle assets, the costs of utilizing asset management services, the available software designed to manage assets, even t the qualifications of certified asset management advisors.

It is very important to know that the asset lifecycle has four broad stages that asset management firms take into consideration. Planning and procurement, including carefully considering which to procure, ordering these and even receiving and testing these are salient features of asset management. Managing the daily operations of assets enabling companies to maximize productivity is also an important feature of asset management. Knowing how much it costs to operate the company and comparing it to the profits and the existing assets make for balanced returns and even more commonly returns to the part of the companies.

Ensuring accurate tax and paying for these on time is also one of the ways which companies consider an attractive option rendered by asset management. Depreciation, amortization, and other costs are also some of the costs that asset management accounts for, also valuable in increasing productivity and returns. Asset management also aids in the proper disposal of assets in ways that comply with environmental rules and regulations.

There are also various tools widely available for asset management. Would be users are advised to be aware that asset management is basically a process and these tools are just elements which may help asset management be more feasible. Ideal asset management process differ from one organization to the next, this is because each institution is unique having their own needs and objectives. IT asset management services keep inventory, track hardware and software assets including licenses and management technology in asset procurement.

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

Research for Asset Management Do's and Don'ts

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When you are trying to manage other people’s assets, there are things that you must and mustn’t do. Asset management is a very tricky job, since it involves having to go through sometimes private details of the person’s life.

Asset management research doesn’t have to be for other people. It is far easier to do asset management research for yourself. To begin with, you will have no qualms whatsoever in getting your own details together.

Asset Management Research Tip 1: Understand the Scope

The very first challenge for a researcher in asset management is to understand not just your goals for conducting research, but also the scope under which you are allowed to operate. Avoid taboos from the very beginning by inquiring the degree of penetration that you can have as far as the pertinent information are concerned. This is very crucial because it will dictate the depth of your research. The purposes of the research must also come to mind: is it to confirm existing sets of research or to start entirely from scratch? These questions may seem minor but they are important to having a productive set of research.

Asset Management Research Tip 2: Make an objective inventory and update it

When you are trying to make an inventory, make sure that it is updated. The inventory will help you show what’s there to begin with. Having an inventory is a handy tool that will help you address the issues that might come up in an individual’s asset management program. Remember that it is usually on a case to case basis, and what might work for one may not necessarily be as effective for another. The objectivity in inventory is also important for it will be a good basis of facts only if it is not selective in nature.

Asset Management Research Tip 3: Deal only with the recent sources

The recent sources will tell you the present state. This is the very first thing that you have to inspect and incorporate in your research. If you have to backtrack more for establishing credibility, read the next tip.

Asset Management Research Tip 4: Observe past circumstances as well for patterns

Patterns may only be found from past recurring experiences. Now, if you are after some intense research on asset management, trailing the past will also be as effective. Pair the findings of the past with the present situation and know its implications for your overall efficiency as a researcher.

Asset Management Research Tip 5: Have a working set of recommendations

The purpose of research is not just simply to report what’s out there. It will also be helpful if there are solutions offered in form of recommendations. Researching for asset management is not just about outlining a list of things that are present in one’s asset bin. It also involves giving the initial directions under which effective asset management may thrive.

Asset Management Research Tip 6: Be flexible for changes that may happen

Research will not tell everything, especially if it is just preliminary research. Changes may still be introduced. A new event may actually challenge your assessments. While there is a limit to editing research works, you may have to design your research in such a way that it will accommodate changes as they come along.