Assets are the largest investments most companies make. Every company therefore needs to keep track of its assets, so that stakeholders will know which assets are available to be employed to provide optimal returns. Asset management is the process of tracking and maintaining the organization’s physical equipment and assets for purposes of asset maintenance, asset tracking & preventing losses. Asset management is an important part of accurate financial reporting.
Asset management typically incorporates the following tasks: overseeing and tracking fixed assets, monitoring fixed assets in multiple locations, minimizing maintenance costs, helping to increase operational activities, and keeping a record of assets (so you’re aware of theft or losses of assets).
Businesses should implement asset management for the following reasons:
Carefully keeping track of your assets is a good way to protect your bottom line and ensure a positive enhancement of capital over the asset lifecycle.
What should you expect from this service:
To provide low-cost, outsourced finance and accounting services to our SME clients within a framework that assures control, quality service delivery, and high performance.