公開日:2022/04/01 / 最終更新日:2022/04/01

Asset Management continues to be one of the primary concerns of organizations everywhere in the world. Why? Assets drive businesses. Trendy businesses rely closely on physical assets to sustain effectively. Asset administration process also helps businesses derive more worth from an asset and achieve enterprise goals.

While the idea of asset administration has been in existence over a number of decades, it continues to be an ever-evolving domain. So, it is critical to keep pace with the evolution and adapt to adjustments on the fly. How well firms embrace change will determine which prosper in the years ahead.

Asset administration is the process of planning and controlling the acquisition, operation, maintenance, renewal, and disposal of organizational assets. This process improves the delivery potential of assets and minimizes the costs and risks involved. Adequate upkeep and proper deployment of systems, people, and processes guarantee a positive enhancement of capital over the asset lifecycle.

What’s asset lifecycle?

Asset lifecycle is the number of stages that a corporation’s asset goes by throughout the lifespan of an asset’s ownership. It’s the period that a company can effectively and effectively make the most of an asset to accomplish its business goals. An asset lifecycle typically covers all phases of an asset’s life from acquisition by way of maintenance and eventual disposal.

Types of asset administration

While the definition of asset administration could differ from one group to another, they are often vastly categorised into three types: physical, financial, and contractual.

Physical asset administration stands for the process of handling things like fixed asset management, inventory management, infrastructure, and public asset management.

Monetary asset administration refers back to the process of managing procurement, developing an funding strategy, controlling budget and costs, dealing with cash, bonds, and stocks.

Contractual compliance streamlines processes like IT asset management, digital asset administration, contractual upkeep, and administration of intangible assets.

Pain factors in managing company assets

Among the biggest points facing asset management is the hurdle with monitoring and managing present assets manually. When your assets have been on the grid for years, it can find yourself as loss or worse, compromised.

In addition to this dilemma, manual asset administration is subject to the pain points which can be listed below:

Guide data entry, error-ridden processes, and inaccurate data

The unstructured asset management process

Lack of writerity to enforce asset administration policies

Poor or non-existent change administration

Little to no tracking and reporting of real-time asset value and location

Inability to evaluate the potential data risk or stop it

Seven best practices for efficient asset administration

An efficient asset administration process helps companies monitor and handle their assets utilizing a systematized approach. With a stable process, organizations can improve productivity and efficiency of an asset thus enhancing the return on improvement.

Key parts of an efficient asset management process include:

Getting ready an asset register: An inventory list of available assets

Determine asset conditions and ranking system

Track asset depreciation accurately at timely intervals

Decide the value of assets and their replacement price

Move away from reactive to predictive asset maintenance

Focus more on change administration to make sure database integrity

Eliminate paperwork and automate tasks like data collection, asset reporting, and more

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