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Press Release

Top Tips For Fixed Asset Management

Assetware offers free Guide in response to research findings

March 2008: According to independent research, many organisations are using inefficient fixed asset management procedures and inadequate asset management software. In response to these findings, asset management specialist Assetware www.assetware-technology.com has produced a new Guide which contains tips and advice on improving fixed asset management processes and systems.  The Guide, entitled ‘The Least you Need to Know about Fixed Asset Management’ also includes practical information about an asset inventory to reduce expenditure and improve profitability. It is available from Assetware’s website http://www.assetware-technology.com/request-1.htm

A study by Gartner indicates that up to 30% of organisations are in a ‘chaotic’ state, meaning that they do not know what they own, where the assets are located or who is using them. According to research by KPMG, UK companies are wasting £17 billion a year because managers have not applied proper asset management concepts. Other research indicates that companies are overspending by up to 40% because of under-utilisation, inefficient maintenance and petty theft of their assets.

“These findings bear out our experience,” says Assetware’s General Manager Chloe Harlick. “In many companies we find that fixed asset management is just not seen as an important business issue. Yet we’ve seen amazing results in companies that improve their asset management systems and processes. One of our clients reported immediate savings of £17,000 a month on maintenance contracts as a result of our doing an asset management process review. There’s no doubt that effective fixed asset management can save companies a lot of money.”

Assetware’s new Guide is a succinct summary of key asset management issues. It includes a review of the vital issues in financial asset management, guidelines on carrying out an asset inventory, and an overview of IT asset management. For smaller businesses currently using spreadsheets for asset management, there is a summary of their advantages and pointers to their drawbacks.

Continues Harlick ‘Our “Least you Need to Know about Fixed Asset Management’ is a practical reference guide. It’s intended to alert people to the importance of asset management, and show them the real bottom-line benefits they can get from putting in place best practice fixed asset management. We’re offering the Guide free, and we anticipate that a lot of people will benefit from it.”

“Perhaps the next time there is a fixed asset management research survey,” concludes Harlick, “the results will be a lot better!”