Why is automated asset management important for your organization?
As businesses expand, they invest in more and more assets to up-size their resource portfolio. This hints at positive growth opportunities and increasing ROIs in the future. However, these ever-growing assets can get quite a handful to manage over time.
How often do you use the office printer? Or better yet, the company laptop? Businesses all over the world use several different types of equipment to carry out key business tasks. So, with so many employees and a vast inventory base in play, how do firms control utilization?
Robust asset management is considered a best practice, whichever sector you operate in. It is equally important in schools that house various Assets of different sizes and kinds across different locations.
All modern companies know that IT assets play a chief role in meeting business targets. These assets include the many software programs used to streamline business tasks, and the main server that stores critical internal data. With technology so deeply inter-woven within company tasks, survival without a robust management structure is extremely difficult.
Whether you work in the retail, construction or health sector, there’s always a steady stream of inventory management problems rushing your way. The most common of these issues is that of asset shrinkage – the difference between an inventory item’s book and physical count.
Equipment, whether big or small, is crucial to running the daily tasks of a business. It is the core resource of your organization. For this reason, it is important to keep your equipment inventory in good shape. Continuous upkeep of equipment lowers instances of machine downtime, enhances productivity, and ensures that you conclude your projects in time.
You’ve probably heard of the old adage, “time is money”. This holds especially true in the corporate world where companies regularly complain of plummeting employee productivity levels and increasing overhead costs. Continue reading →
Fixed assets are assets that have a useful life of more than a year and are acquired for long term use. They are neither sold off after one year nor consumed by the organization like most short-term inventory.
Regulatory Compliance – What is it and why is it important?
Regulatory compliance can be defined in many ways depending on the prevalent rules in an industry. However, it generally refers to following a set of legal standards and policies to fortify your presence in the market.