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You'll find obvious benefits from implementing and maintaining a record and control over assets. Savings may be obtained from having the capability to both see current asset deployment and thereby maximizing their use. Monitoring assets will reduce unauthorized use or misappropriation and insure employees leaving a firm return assets under their control. In some cases a system is mandated by government regulations, terms of lending, public grant terms, coverage terms etc. An individual can maintain and manage all fixed assets of a business if they have software to assist them. Computer systems and software available reduce complexity, save time and stop mistakes. Why use an asset management software program?

While paper and pencil methods may be used, software programs assist in the recording, maintenance and auditing of assets. This saves time and gives a clearer picture of assets since sorting and viewing in several ways is quick and easy.

The most basic 'solution' would be using a spreadsheet program for example excel. Despite migrating to software created specifically for asset investment management you will discover times that a spreadsheet program may remain useful.

What you call an asset often depends upon your business activities. The first thing that comes to mind is fixed assets such as computers, production equipment, office furnishings etc. You might even wish to consider employees as assets or perhaps service and maintenance contracts. A flexible asset management software program can provide a way to track numerous things most of us wouldn't consider to be assets.

A sort of awakening has occurred in major industries during the past decade on the role of asset management. It has become attractive due to decreasing margins and competition growing day-to-day. To avoid major capital spending, companies are now developing strategies to get optimum performance from available fixed assets thereby getting increased returns. This involves proper schedule of upkeep to minimise breakdowns and consequent loss of production.

So that you can have reliability in scheduling, regular planning in conjunction with various departments, at least on a monthly basis is absolutely necessary. Standards must be set as well comparative analysis within industry standards has to be evaluated to ascertain whether the company is achieving optimum production in line with the sector. Otherwise, then suitable targets and best practices has to be setup in a reasonable time period to reach those targets.

Logistical performance must also be evaluated to think about whether transportation costs are economical and advantages of location are met. The management tools for evaluation can be in type of comparison studies, which will set up in form of graphs and bar charts for easy visual comparison. If fixed asset performance is seen to be below par, then priorities can be fixed for the focus on improvement.