Talk:Asset management/Archives/2013

AMBUJ Shekhar(AIM)

Not sure where this has come from:
simontheboldAmbuj Shekhar|talk]]) 23:40, 8 August 2008 (UTC)

ASSET MANAGEMENT

Asset management is the processes of planning, designing, and implementing advanced systems in managing a company's assets. It controls and increases the efficiency of the assets owned by an organization. It includes management of a company's infrastructure, plant, property, and human resources. The various components of assets may vary according to the industry type and needs. As business scenario is becoming more complex with large number of employees, their individual work profiles, and workflow spread over various departments; managing data and records manually is nearly impossible and hence, asset management software provide the apt solutions.

Much asset management software is presently available in markets. It enables efficient managing of companies' assets and is considered an important tool in any company's performance. This software also manages physical attributes of an asset such as finalizing the purchase requests, valuation, depreciation, asset receipts, and maintenance, warranties, and user data. They entirely manage all the business management issues comprising of cost management, capital budgeting, expense accounting, financial planning and reporting. With the administration of tangible goods, raw materials, finished products this software also manage their intellectual assets.

Asset management software provides analysis of data, which helps company to make new strategy plans for cash flow, helps in the finest utilization of resources, and in turn increase the productivity of the company.

Some other benefits of asset management software include automatic tracking of all hardware and software across the entire network of management systems, identification of unlicensed software installations, enhanced helpdesk productivity by presenting accurate inventory information, and generation of web reports that can be printed or emailed IT asset management services keep inventory, track hardware and software assets including licenses and management technology in asset procurement

It includes data about what assets you have? Where they are located? How well they are working? How much they cost? How effectively they are supporting your business?

FEATURES • Automatically discover hardware and software inventory information. • Reduce cost of ownership and improve resource utilization. • Ability to attach assets to scanned workstations. • Ability to manually add missing software. • Asset repository database. • Minimal impact on network resources and user performance. • Manages visual asset-related data, providing quick and easy identification of critical asset information to improve operational efficiency. • Increased customer satisfaction • Improved IT security through advanced Configuration Item control • Integrated task management BENEFITS

It keeps your work in flow without paper trails. • We can keep track of the Asset companies, Hardware, Software, Electronics and Automobiles, etc. • It also provides management reports on the company’s assets. • It provides facility to make changes in the Asset Management Software. • Helps in reducing total cost of ownership.

IMPORTANCE OF ASSET MANAGEMENT Asset management tracks any equipment used by employees, software licenses and hardware, including computers and laptops. ROLE OF IT ASSET MANAGEMENT IN AN ORGANIZATION The IT Asset Management function is the primary point of accountability for the life-cycle management of information technology assets throughout the organization. Included in this responsibility are development and maintenance of policies, standards, processes, systems and measurements that enable the organization to manage the IT Asset Portfolio with respect to risk, cost, control, IT Governace compliance and business performance objectives as established by the business. IT Asset Management integrates the physical, technological, contractual and financial aspects of information technology assets to enable a holistic and proactive approach to achieving the objectives. GOALS OF ITAM ITAM business practices have a common set of goals: • Uncover savings through process improvement and support for strategic decision making. • Gain control of the inventory. • Increase accountability to ensure compliance. • Enhance performance of assets and the life cycle management. • Risk reduction through standardization, proper documentation, loss detection.

RETURN ON INVESTMENT (ROI) A performance measure used to evaluate the efficiency of an investment or to compare the efficiency of a number of different investments. To calculate ROI, the benefit (return) of an investment is divided by the cost of the investment; the result is expressed as a percentage or a ratio. ROI = (Gain from investment-Cost of investment) ---------------------------------------------------- Cost of investment

Return on investment is a very popular metric because of its versatility and simplicity. That is, if an investment does not have a positive ROI, or if there are other opportunities with a higher ROI, then the investment should be not be undertaken.

The calculation for return on investment can be modified to suit the situation -it all depends on what you include as returns and costs. The term in the broadest sense just attempts to measure the profitability of an investment and, as such, there is no one "right" calculation. For example, a marketer may compare two different products by dividing the revenue that each product has generated by its respective expenses. A financial analyst, however, may compare the same two products using an entirely different ROI calculation, perhaps by dividing the net income of an investment by the total value of all resources that have been employed to make and sell the product. This flexibility has a downside, as ROI calculations can be easily manipulated to suit the user's purposes, and the result can be expressed in many different ways. When using this metric, make sure you understand what inputs are being used.

IMPORTANCE OF RETURN ON INVESTMENT (ROI)

Profits happen when a company operates effectively. We can tell that the management team is doing its job well if the company prospers, obtains funding, and rewards the suppliers of its funds. ROI is the principal tool used to evaluate how well (or poorly) management performs. ROI is used for: 1. Measure the performance of individual company segments when each segment is treated as an investment center. In an investment center, each segment manager controls both profit and an investment base. ROI is the basic tool used to assess both profitability and performance. 2. Evaluate capital expenditure proposals. Capital budgeting is long-term planning for such items as renewal, replacement, or expansion of plant facilities. Most capital budgeting decisions rely heavily on discounted cash flow techniques. 3. Assist in setting management goals. Budgeting quantifies a manager’s plans. Most effective approaches to goal setting use a budgeting process in which each manager participates in setting goals and standards and in establishing operating budgets that meet these goals and standards. Most budgeting efforts begin or end with a target ROI.

PRACTICES AND STANDARDS It represents the collective knowledge and experiences of the entire IT Asset Management industry. These best practices were created from the best practical experiences of industry’s pioneers, leaders and professionals. There are twelve volumes addressing the twelve Key Process Areas (KPA's): Acquisition Management Asset Identification Communication and Education Compliance and Legislation Disposal Management Documentation Management Financial Management Vendor Management Policy Management Project Management Program Management A Best Practice Library couldn't be called practical without including industry standards and regulations. The IBPL addresses standards such as ISO's 19770 and the UK-OGC's ITIL, and regulations such as Sarbanes-Oxley and HIPAA. Unlike other standards, the IAITAM Best Practice Library addresses not just the what, but more importantly, the why and the how. The why enables the IT Asset Manager to educate and justify the improvements to the organization's ITAM processes and the how provide the IT Asset Manager with a practical implementation guide that is easily modified to the organization's unique environment. Further supporting the how, each volume contains templates and workflows that can easily be customized to meet the organization's ITAM program.

The companies with the asset management software are: 1. Pinnacle Softwares 2. Activa 3. Assetware 4. Kemma Softwares 5. Salvage Data 6. GHG Corporation

Page redirect

I have moved the non-financial asset management part of the article to asset management (physical). Nearly all links to this page are financial in context. This article and the article Investment management cover the same topics, therefore I am adding a redirect to that page and merging the best parts from both articles. simonthebold 17:31, 7 June 2006 (UTC)

Should be stand alone

The life cycle management of Physical Assets to achieve the stated outputs of the enterprise. —Preceding unsigned comment added by Sunnydiky (talk • contribs) 22:52, 15 April 2009 (UTC)

Asset management now is a stand alone area and it should have its own definition. The definition comes from the asset management council's AMC Asset Management Fundamentals. Asset Management Glossary.

?

More than a year on, and I still agree with your suggestion about being stand alone. --Graham Proud (talk) 07:22, 8 June 2011 (UTC)