Making Asset Management work for your business

Every firm invests considerably in asset management in order to meet their organisation’s goals by weighing costs against asset performance. The world of asset management is seeing rapid changes caused through an increase in investments, emerging markets and more wealth reserves. As costs rise, there will be a growing need for businesses to manage their assets effectively to maximize their use and ensure transparency in their usage. This will bring an increased focus onto asset management and will bring increased pressure on asset management business.

As your company grows and manages increasingly diverse portfolios, it’s important for you to focus on an asset management software that can provide you the benefit without a parallel cost impact.

Asset management software can help you in the following ways:

• Get the most out of your assets by keeping a close check on licenses, inventory and usage. This helps you to maximize usage of assets and prevents undue costs incurred through purchase of assets that may not be required in view of existing assets.
• Combines both physical and soft data for consistent management of IT assets. Inventorying of all network related assets is made much easier and you can even assign certain assets to the right departments within your firm, making resolution of issues much faster.
• Helps with supply chain management. An asset manager can help you manage relationships with vendors and keep accurate records of contract lifecycles for each of your assets.
• Keeps a track of licenses. Managing licenses can be very complex, especially when you have a large number of users in the firm. Asset manager can help you stay on top of licensing and keep an accurate count of their use.
• Manages integration of assets with technology. With the help of an asset manager, you can centrally detect and manage various assets without the need to install software for each user. This makes reporting much easier and accurate.

Asset management software helps move your business from the traditional Excel-based analysis to more effective and accurate means of tracking that takes just seconds to view. Track all your assets with one central, easy to use tool that helps you make the most out of your investments. Asset management business can expand, resulting in incremental costs and expenditures. The good news is your software will expand with it, recognizing additional assets and investments, without the need for you to incur additional expenses in tracking the newer assets.

In an asset management business, you need to monitor various cost spending strategies, align investments to match risks, measure performance of assets and monitor cashflows. The right software can help you effectively meet all of these requirements while managing risk effectively for diverse asset classes.

Don’t get left behind! Use the right asset management solution to ensure that your business is safe and in keeping with the times. Share this article with your peers who need to be convinced of the need for such inventorying and do share your thoughts with us on this topic!