What Is Asset Management Software?

Asset management is the administration of a company's asset by a group of individuals, entirely dedicated to the purpose of maximizing profits. It deals with the company's future economic benefits in monetary terms by keeping a check on cash balances, credit cards, debit cards, margin loans, and brokerage services. Asset management also involves infrastructure, plant, property, and human resources of the company. Company's assets can be managed either manually or using software applications. However, for avoiding wastage of resources and the resulting inefficiencies that slow down business returns, asset management software is a high-quality solution.

The asset management software is designed in such a way that it can keep track of the company's assets and provides data for analysis. In other words, asset management software helps to keep track of, monitor, and analyze business processes and resources. It replaces the manual work of asset management and provides with automatic solutions, which help to speed up the work and minimize errors. This asset management software helps in diverting individuals to more productive work; it saves time by eliminating manual file management. It proved beneficial to skilled professionals to manage time and efforts in searching for the required data. This results in the optimum utilization of resources, thus, increasing the productivity of the company.

This software helps in keeping track of an asset, its purchase value, all service costs, reduced value, and its benefit. The team then uses this information for analyzing and evaluating the present value of the asset. This analysis helps companies to implement their further plans regarding allocation of assets to the company's various departments. It also helps the organization to evaluate whether the asset is in usable condition, needs upgrades, or needs to be replaced.

Asset management software is an effective tool for a company to manage its material goods, analyze statistics, and arrive at business decisions. Various departments can access this asset data by the company's intranet. The accurate data analysis leads the company towards a better assets management.

Asset Management Software provides detailed information on Asset Management Software, Digital Asset Management Software, Inventory Asset Management Software, Fixed Asset Management Software and more. Asset Management Software is affiliated with Free Project Management Software

Asset Management in the Supply Chain

Over the last decade more and more companies have implemented returnable and reusable transit packaging fleets and pools, whether it is pallets, tote bins, steel stillage, cages or even wooden crates. What is guaranteed is that these fleets require a capital investment, (whether directly or by a fleet / pool provider), and should be protected as you would any other company asset.

The specifications of the packaging vary enormously depending on the industry, the application and budget. However one thing common to many of the established packaging fleets or pools is that when they were originally specified, costed and implemented, a number of elements were not considered, and often still aren?t. These include repair and maintenance costs due to normal wear and tear as well as misuse, equipment loss, stockpiling and extended dwell and cycle times, lifespan of the equipment and the flexibility of the chosen design to adapt with developing and changing supply chain demands. These elements all have a cost impact, which can be substantial, and surprisingly many companies are either unaware of the real cost of their packaging pools, or just accept that it is a high cost and budget accordingly.

The key to managing costs of a packaging fleet is the in the initial equipment design and specification, the processes specific to the fleet within the supply chain and having an effective management and control system which can be easily integrated into the existing supply chain operation.

The starting point is therefore establishing the objectives of the packaging fleet and the requirements within the supply chain that you are looking to satisfy. Analysis of the operation and supply chain requirements, now and for the next five years, needs to be carried out and once the objectives and requirements are confirmed then the methods of handling and the type of packaging required can be established and specified. Success will be facilitated by a simple cost effective process design, which adds value to the existing operation by generating ?self funding? fleets, to include cost control mechanisms to reduce cost of damage, loss and misuse.

Process designs are unique to the individual customers supply chain needs, whether it is a simple hub and spoke operation or a complex multi tiered supply chain. Identifying the subtle differences between the needs if an inbound or outbound pallet or container pool is crucial to a successful solution.

The actual equipment design must take into account the physical requirements of the packaging, as well as the lifespan under actual working conditions, the ease of maintenance and repair, the ease of handling and of course the capital investment. It must be remembered that when costing a fleet it will probably be an initial high capital cost, compared to disposable packaging, but it is also an asset that can be depreciated over a number of years. The annual cost of running the fleet can be budgeted and this will vary depending on the individual supply chain needs. However these costs can also be monitored and controlled with a suitable management system.

There are a number of asset management systems being used to manage fleets or pools, and experience shows that a simple system, using established technology can provide the perfect tool for controlling your fleet effectively.

The objectives of a fully integrated pro-active fleet management system are as follows:

? To reduce overall packaging fleet costs
? To increase fleet visibility and cost control
? To optimise packaging fleet utilisation and minimise cycle times
? To provide proof of accountability for damage and loss
? To manage a repair and maintenance program

A suitable system should be modular, enabling it to cope for example, with a simple hub and spoke operation developing into a more complicated multi-tiered supply chain over a 3 to 5 year period.

Equipment losses can be put into two categories, actual loss and perceived loss. Perceived loss is where it is assumed that the equipment is lost as no one can account for its physical location. In reality the equipment is sitting in a warehouse or yard area unaccounted for and ignored. Actual loss is as its name would suggest and the equipment has been permanently mislaid or destroyed. Effective management will identify actual loss via audit trailing facilities and should negate perceived loss.

Damage will always occur to packaging equipment in the supply chain. However experience would suggest that an estimated 70% of damage is avoidable. Effective management will allow you to identify who is damaging equipment in the supply chain and handling processes of regular offenders can be examined and changed or improved to ensure damage is reduced. Damage data can also identify any design areas within the equipment itself that could be changed to reduce overall damage levels and therefore costs.

The example below shows the effect that increasing or decreasing the delivery trip cycle time in a pallet pool has on the pallet pool costs.

Cycle time management is key to the fleet size and therefore cost, so all efforts to reduce or maintain a minimum cycle time are paramount. This can be achieved through synchronous container flows integrated with lean manufacturing process. Cycle times should not be averaged out across the whole fleet and a good system will enable you to set individual cycle time parameters for specific user requirements. Minimising and reducing cycle times can create a surplus of equipment in the packaging fleet or pool. However this should not be regarded as wasted capital, but as cost avoidance on future packaging requirements as your business expands.

In order to ensure your objectives and requirements are met the system specification process must be thorough and realistic and tailored to suit the individual customer and supply chain needs.

? Your current management systems and process will be evaluated, and a suitable packaging management system designed and implemented
? Packaging fleet data can be captured via RFID readers, bar code scanners, or by manual entry of bulk movements.
? Data entry should be minimal so as not to increase on-costs and the risk of human error.
? There must be a high degree of control and a wide range of reporting capabilities, available via a local network or over the internet on a secure password access basis.
? The system must manage overall packaging fleet performance, including additional operations such as repair and maintenance, cleaning, damage inspection procedures and KPIs.
? There should be no limit on pallet / container types or the amount of locations where the fleet can be used in order that it can be flexible to a growing business.
? Data synchronisation with other systems within your business will facilitate accurate equipment planning for future or seasonal requirements.

The impact of packaging on overall supply chain costs, and indeed the impact on packaging costs brought about by changes elsewhere in the supply chain, can be tested theoretically using various cost modelling soft ware prior to actual implementation.

Gideon Hillman Consulting can assist you with knowledge and experienced based proposals and modelling solutions for Asset Management in the Supply Chain Investment into planning and consultative project management at the outset can negate over investment and additional cost in the longer term.

Gideon Hillman was employed at a Senior Management Level throughout Europe within the Materials Handling, Logistics and Specialist Supply Chain Services industry for over 12 years, (7 of which with TNT Logistics), prior to establishing Gideon Hillman Consulting in 2004. Gideon is a Member of the Institute of Logistics and Transport & The Institute of Management Consultants. As well as presenting to, and working with, Industry specific forums such as BARD / BPI in the music retail industry, the IISRP in the Global Automotive Tyre Industry and the Odette Group for Automotive Materials Handling, he was a Keynote speaker on "Asset management in the supply chain", at the 1998 IFPWA Global conference and has worked closely with the IARC (International Automotive Research Centre) on RFID implementation for Automotive Stillage Tracking. He was also a speaker on Asset Management in the Humanitarian Aid Supply Chain, at the 2006 Aid & Trade Humanitarian Relief Conference in Geneva.

Understanding Asset Management

Asset management is a form of investment management. The term asset management is sometimes used to refer to the management of all investments, including assets, or it may be used to refer to assets that don't fall under the more standard categories of investment management, fund management or portfolio management.

Asset management is one facet of the vast global investment management industry. Large financial institutions manage billions of dollars in assets for businesses and individuals all over the world.

Many insiders feel that independent firms are more successful and more dynamic in investment management than are large banks and insurance companies.

Asset management helps to protect and grow investments. The assets under management may be a large company's pension fund, or an individual's retirement savings. Institutions that manage assets have great weight in the financial markets because of the amount of funds under their control. The decisions these companies make as to how to invest and move around the money they control can affect the overall rise and fall of financial markets.

Pension funds accounted for more than $15 trillion of funds that were under asset management in 2004. In comparison, more than $30 trillion of private wealth was in investments in 2004, about one third of which was being managed by investment management firms. Asset managers in the United States account for almost half of all funds under management globally.

Understanding asset management is a complicated topic. If you have large investments, you want to make sure your assets are properly managed. Various financial advisors can provide information about the best fund managers, the institutions with the best track records, and in general the type of management that may be right for you or your business. Different types of financial management are indicated, depending upon the size of the investment capital, the form of the assets, and many other individual factors.

Luke Perry is a writer and administrator for Asset Management West a site that specializes in asset management.

Asset Management 101

Asset management is the method that a company uses to track fixed assets. It is the process of controlling assets throughout their lifecycle - from procurement, through daily operations, and finally disposal. Factory equipment, desks, chairs, computers, and property are some examples of such assets. Broadly speaking, asset management involves tracking the physical location of assets, managing demand for scarce resources, and accounting tasks such as amortization. Issues that are part of asset management include asset value and depreciation; purchasing requests, orders, and asset receipts; licenses, leases, maintenance, and other contracts; vendor performance, service levels, and warranties; departmental and user data; and physical asset attributes. One of the purposes of going all these lengths and putting in effort to organize all this information is to keep track of important information such as how much the asset costs, whom it was purchased from, who is using it, where it is physically located, which department code the cost should be assigned to, which vendor should be called for support, when the lease expires, when it should be retired, what the depreciation rate is, etc. This, in turn, provides the basis for managing and optimizing an organization?s entire asset portfolio.

When we speak of property management as part of asset management, it includes property selection, implementation of policies and performance standards for that property, and monitoring of its performance in relation to the owner?s objectives.

Generally, there are four broad stages of the asset lifecycle:

Planning and procurement: This involves planning, ordering, and receiving the technology.

Operations: This includes managing the day-to-day operations of the assets to maximize productivity.

Financial management: It involves ensuring accurate tax, depreciation, and other costs.

Disposal: Once it is time for disposal, you are required to remove the asset from the enterprise in compliance with environmental regulations.

Various tools are available for asset management. However, it is important to realize that asset management is primarily a process, and the tools aspect is just a small aspect of it. Since every organization is unique, with its own unique needs and strategies, the ideal asset management process for each organization differs.

Chris Tolamalu is interested in asset management. See http://www.assetmanagementjournal.com/ for more information.

Complementing the job with Property Management Software

What is property management, a property manager, much less Property Management Software? These terms are fairly self-explanatory and they serve an important function when dealing with rental property and acting as a liaison between a tenant and their landlord.

Before we get into the role and the importance of property management, let's talk a little more about their responsibilities and the roles of a tenant and a landlord. Afterwards you'll understand better where Property Management fits into the whole picture.

The Tenant-Whether they're college students, single residents, or families, various tenants have one purpose in mind; to temporarily rent a home at a reasonable price. Things such as location, price, and quality of the overall home (furnishings, appliances, etc.) will all be taken into consideration. A tenant's responsibility will be to maintain the quality of the landlord's property including furnishings, appliances, as well as the overall interior and exterior of the property while living there. In the event that the landlord's property is damaged, the tenant is held accountable for the damages. This responsibility is almost always covered in an agreement/contract agreed and signed upon the tenant before moving into the landlord's property.

The Landlord-Landlords make profitable earnings from their real-estate, so a continual check on the maintenance on their property will constantly be beneficial. Landlords are responsible for generally updating the furnishings inside the property. Some of these basic essentials include couches, an entertainment system, kitchen appliances, desks and bedding mattresses to name just a few. In a lot of cases, a landlord is physically unable to be an on-site manager of his/her property, usually because they are living out of state or are too busy or overwhelmed to handle the many properties they may own. It is up to the landlord how involved they want to be with corresponding with their tenant. Generally, most landlords will use a mediator to control the business matters with their tenants.

The Importance of Property Management

Property Management serves as that mediator between the tenant and the landlord. Property Management helps both parties in the following ways

Benefiting the Landlord

*Advertises landlord's property to prospective tenants

*Handles all correspondence and assistance with tenants

Benefiting the Tenant

*Fast, local access with on-site management for tenants

*Serves as a neutral party with objective problems of landlord's property.

Property managers have the potential to fulfill a vital role to their clients with the right tools. An important resource such as property management software will help better organize the manager's role as the mediator between the tenant and landlord. With the internet being a popular medium to worldwide users, managers using this software will have the online edge to communicate with their clients at a faster and more efficient pace.

If you are a landlord seeking to take over your own property management affairs, this online software will help you get a jump start on the various duties of property managers. If you are a property manager overwhelmed by your current work, look at your many online software options to help ease your management duties and help you to become a stress-free manager.

Buildium's line of Property Management Software centralizes all the aspects of managing your properties into one simple online software system.