Asset management is the process of making sure that assets are developed, run, maintained, and sold in the most cost-effective way possible. Most of the time, this term is used in the financial world to talk about people or businesses that take care of assets for other people or businesses.
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Why is it important?
1. To keep track of the company's assets.
2. To manage assets easily from different locations.
3. To ensure the financial statements of the business are accurate.
4. To optimize operations, that needs planning.
5. To identify risk and come up with a solution to avoid it.
Now that we know the importance, let’s look at the benefits:
1. Reduce complaints from customers.
2. Increase customer value.
3. Reduce loss.
4. Prevent theft.
5. Locate assets easily.
As you can see, every company needs to have an asset management system in place. It can help keep track of assets and help get them back if they are lost or stolen.
Reference:
Bender, P. (n.d.). 16 strategic benefits of asset management and Asset Tracking Software:
Blog: Link labs. Blog | Link Labs. Retrieved June 15, 2022, from
https://www.link-labs.com/blog/16-strategic-benefits-of-asset-management-and-asset-tracking-software
Regalado, M. (2016, May 18). Top ten reasons why asset management is important. AER Worldwide. Retrieved June 15, 2022, from https://aerworldwide.com/top-ten-reasons-why-asset-management-is-important/
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Thank you for your sharing 😊
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