Asset management has evolved from the Maintenance Management Systems. It aims at the optimum utilization of both tangible and intangible resource for maximum returns. It acts as a Preventive and Predictive system. Preparing financial investment portfolios is an important part of asset management. This helps you to track and manage costs. It helps in maintaining records of service schedule, replacement schedule, depreciation values and procurement details.
Asset management involves the analysis of the tangible resources like the actual property, buildings, equipment, their effectiveness, their depreciations and intangible resources like procurement functions, production, human resources, training and development effectiveness, skill sets. The complexity and the high volume of diversified assets can be handled easy through Asset management solutions. It becomes highly complex when it is done manually.
Advantages of Asset Management:
Operating cost can be decreased
Optimum uses of resources
Proactively manages the organization
Optimize maintenance, repair and replacement of equipments
Track the financial performance of assets, resources and revenue generated from each individual process
Quality of revenue can be increased