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Broadly speaking, asset management refers to any system that monitors and maintains anything of value to an entity or group. This management applies to both tangible assets, such as buildings, and intangible assets, such as people, intellectual property rights, goodwill, and financial assets.
Asset management is a systematic process to develop, operate, maintain, and increase the usefulness of assets in a cost-effective manner.
The term asset management is also often used narrowly in the financial sector to describe human resources and companies that manage investments on behalf of others, such as investment managers who manage pension fund assets.
Explicitly, the definition of an asset from an economic point of view is an item (thing or anything) that is owned by an individual or organization that has:
- Economic Value (Economic Value ),
- Commercial Value (Commercial Value), and
- Exchange Value (Exchange Value).
Asset management aims to keep the value of these assets high and have a long life by providing adequate operating costs so that they can produce high output efficiently, provide satisfaction to customers while respecting the laws and regulations and aspects of work safety, and without disturbing the environment provide a good image to the public.
So, in general, the purpose of asset management is to assist an entity in meeting the objectives of providing services in an optimal, effective, and efficient manner.
This includes planning, guiding procurement, utilization, optimization, elimination, and management of associated risks and costs over the life cycle of the asset. Asset management also aims to determine the clarity of asset ownership so that asset owners can safely and not face legal problems in utilizing their assets.
The experts at CAC assist clients by imparting expertise and knowledge in the management of fixed assets. Its experts have detailed knowledge about local requirements and relevant updates derived from their experience in the same field with many government agencies.
The following are the main services provided:
- Compliance with fixed asset policies and procedures.
- Register of fixed and accounting assets
- Inventory of fixed assets.
- Numbering of fixed assets.
- Valuation of fixed assets
Keep track of all your assets without spending huge amounts of money on costs; Own a record of all your fixed assets in one place without a safe; CAC provides solutions to all of these considerations. Fixed asset management is crucial– companies often find themselves stuck in the question of where their fixed assets are located.
Fixed asset management services provided by CAC help you dealing with such problems and enable you to reduce asset costs and increase the lifetime value of fixed assets effectively and significantly.
The plan starts with an in-depth assessment of your fixed assets, from counting the number of assets to understanding what each one is; and even a comprehensive analysis and study of asset schemes.
Fixed asset management differs from one company to another, and whether your company is small or medium with few assets/resources; or a global facility with a large physical inventory, CAC’s fixed asset management service provides a simplification of every complexity.