The growing importance of Asset management.
It used to be so easy!
Asset management, not all that long ago, was a simple matter.
A business’ assets consisted of a relatively small number of high value items – buildings, vehicles, office furniture, perhaps manufacturing equipment.
Computers came along.
30 years ago
One mainframe computer.
15 years ago
A PC on every desk, fax machines, printers… – resulting in a many thousand-fold increase in the number of assets to be controlled. But still, a task that could be done with a spreadsheet (although it was much easier with a specialist asset management system)
PCs are being replaced by laptops and handhelds
Mobile phones are standard issue to large groups of workers
Both assets and people are much more mobile – c.f. teleworking, hot-desking.
An explosion in the number of assets to be controlled.
The average asset register will grow by at least one third over the next five years
The value of a company’s assets is likely to increase
Physical tracking of assets is as important as financial (depreciation) control
Asset management is straightforward?
Ask the Finance, Facilities Management and IT professionals who have to deal with it. Here are some of the issues with which they grapple.
• What are the criteria for defining an asset as either fixed or intangible?
• Should an asset be written off on purchase, or depreciated over time?
• Should an asset be split into separate elements to cater for different depreciation elements and rates?
• Is a simple straight-line depreciation policy appropriate for all assets?
• How often should a physical audit of assets be carried out?
• What is the best way to comply with statutory requirements (FRS 10 and FRS 15)?
• When is it appropriate to revalue or index assets?
• For public sector organisations, what are the asset management implications of Best Value?
• How can asset management be tied in with capital budgeting?
• How can asset management contribute to security policy?
• Can an asset management system help ensure that all software is licensed?
• Can I integrate a helpdesk system with an asset management system?
• Is there a system available that deals with all of these issues?
Asset management is what we do and what we specialize in and nothing else. We believe that makes us unique and an expert in our field.