Assessing The Impact Of Asset Management

There is a need to manage the assets within the organization and this has to pay

homage to the new age of IT systems in a way that is both effective and efficient. We are looking for methods of improving the way that we use the resources that are available to the organization. The IT system is part of the mix because it allows these processes to be managed within the limited amount of time that is available to the company.

If the IT asset management system or ITAM is well managed then the bottom line will inevitably benefit by way of increased output and a focus on the things that improve the profitability index for the organization in question. On the other had if the ITAM is managed perfunctorily then we are officially in a realm where nothing is really sacred. The organization will suffer and the people working for it will not get the benefits that they need.

In using the system you are aiming to create a link between the financial systems and the inventory systems that are existent within your organization.

You can effectively track the development of the asset from the time that it is purchased to the final count on the depreciation table. Modern organizations cannot afford to stick to the manual systems if they are not producing the results that they need. It is important to look for ways to improve the use of technical knowledge in developing a strategy for dealing with the daily activities of the organization. That is the essence of growth in a sustained manner. The large organizations have long come to the conclusion that it is patently not desirable to continue developing working models that rely on the manual management of inventory. The sheer amount of effort would be counterproductive. Instead they have turned to the electronic systems for guidance.

Therefore it is imperative that those resources are allocated in a careful and consistent manner. The auditors will be interested in the different dynamics that drive the procurement of those assets as well as the processes that are in place to improve the communications systems within that organization. Compliance will be a major issue for the stakeholders. Employees have to understand the implications of not using the asset management technology effectively.

There are processes for dealing with the request for the assets as well as the management decisions to grant those assets. If you are working in a large organization then you also need to look at the process of redeployment. The environmental protection agenda demands that you look at the different components that make the system work. It also demands that you are cautious in the way that you deal with the ITAM system. There are real costs that are associated with the poor management of the disposal process for assets that are owned by the company.

by: Kari Harju

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