Within a company the processes of enterprise asset management refer to the set of operations that have the capacity to deliver benefits, through optimized administration of each of your physical resources, with the aim to maximize their value, life cycle and in this way improve the overall performance of the company, competitiveness and the return on investment.
All companies regardless of the sector to which they belong have machinery, capital in cash, investments, etc.; elements that make up the associated series of accounting components. In other words, the business assets are those resources, rights and values that overlap the usefulness of the company, these can be technological equipment, infrastructure, vehicles, computer systems, machines, also include the services provided to third parties and the sale of products or services to customers.
The business assets are classified into two groups:
- Current Assets. Are the assets that the company expects to sell or use over a period of time of less than 1 year.
- Circulating assets. Are those assets that are expected to sell or use in a period of time in excess of 1 year
The processes of enterprise asset management are the sum of both groups that grant assistance in monitoring, supervision and management of information related to the use and exploitation of all the resources so that a comprehensive management of the physical infrastructure of a company.
Enterprise Asset Management
The demand for better enterprise asset management has increased due to a variety of factors, in which preponderated the capital, because of the risks and strengths that may represent a loss or an opportunity for the company, depending on the control and visibility of their assets.
To the constant risks and opportunities that relate to the assets, the pressure has increased on the companies to acquire a system that supports in the follow-up to the resources of each area. For this reason, an efficient management and optimum use of the assets is no longer an option, now it has become a guarantee of investment that provides multiple benefits to the companies that implement it.
Variety of assets
All information related to the life cycle of business assets allows you to optimize the operation of each, as well as their reliability to ensure the profitability of the company. In addition to this, you can add the reduction in operating costs and increase the quality of the final products.
Having a specialized system means having control of the management of corporate assets, such as:
An asset management solution provides comprehensive results in the utility of resources, as it renews its maintenance through the data collection and analysis that track the activity of assets, and exalts its qualities by corrective actions in the presence of a problem; preventive actions, in relation to previous practices few functional and predictive analytics to run the asset that will represent a greater advantage.
Supply chain management:
thanks to technology, traditional processes have been centralized and updated so that the operations and functions of a company is now managed by applications that allow you to establish a universal system for all assets and in this way, refer to the information related to your activity.
In the same way, with a management system it is possible to obtain the maximum return on assets that comply with the standards of the business sector and encourage the development of innovative processes in order to provide a full action and practical mode.
Management of services
When performed a correct administration of services, it is the result of an effective utilization of assets, based on the requests of the business objectives to define the products that support to improve the profitability and competitiveness of the company.
The processes of enterprise asset management monitor in an active way the results generated by each area to assess their performance and move those who represent a productive and economic expense, also they promote those that represent a better service for the company.