Asset management can be one of the most intimidating of all processes that the modern business has to face; whilst accountancy and professional services have served well in asset management in years gone by, savvy businesses are now looking to ever more resourceful ways to ensure that their processes are working as efficiently as they can.
Asset disposal: Not just scrap
All too many businesses consider asset disposal to be the scrapping of equipment and outdated resources; whilst such items inevitably have lost their value as an asset to your business, collectively they represent a rather complex problem.
The problem with asset disposal
Asset disposal is complicated by the fact that there is generally a number of parties involved in the process, and the fact that the assets in question are generally not in the business owner’s possession. Identifying and locating assets to be disposed is therefore a demanding task. As well as this, knowing the status of the asset in question (e.g. whether the asset is being, or is going to be used in the near future) can be nigh on impossible without comprehensive asset management.
So, how is ‘responsible’ asset management and disposal defined?
Managing and disposing of your assets responsibly means one thing: that the way in which you’re managing your assets is doing the greatest good to your company. Disposing of assets prior to their sell by date will obviously leave a company out of pocket, however the soft costs involved in disposing of an asset prior to its replacement can be tenfold that of the replacement itself. If vital business operations can’t continue, then the knock on effects for the remainder of the corporation can be both surprising and difficult to remedy.
Businesses also find the same issue in relation to asset management; on a daily basis businesses can struggle with assets that are in the wrong place at the wrong time, and various sites throughout the corporation can find that they have the wrong piece of equipment to undertake necessary daily activities.
So, what’s the answer to this difficult situation? Well that’s relatively simple: efficient, real time asset tracking.
Asset tracking through tailored software is the answer to responsible asset tracking and disposal
Asset tracking through software that is bespoke to your business model allows for rapid asset management; it can tell a company not only where their assets are at any given moment but can additionally tell them how often their assets have been used, and whether they are indeed redundant and in need of disposal.
The main reason businesses find asset management disposal slow is that their processes are inefficient, and, worse still, can lead to poorly made decisions as to when the right time is for disposal. Asset tracking through advanced software is a robust solution to an age old problem, and not only makes a business more efficient, but inevitably makes it more profitable.