PART 1 – Take control of your business: know your assets and your customers’ assets

March 14, 2017
Loc8 Insights PART 1 – Take control of your business- know your assets and your customers’ assets

As Albert Einstein used to say:“The measure of intelligence is the ability to change” and you, where are you at in terms of changes and management of your assets? Any transformations in the way you operate since the invention of the excel spreadsheet? Driven by governance, risk management and compliance requirements; asset management has always been on the corporate agenda and not only large companies are dealing with the issue.

Be organised and think ahead

Whether you are a small or a big company, asset management is no longer an aspect of your business that you should neglect. Performance, productivity and cost are key metrics highly influenced by the degree of attention dedicated to the management of your assets.

Ideally, every company owning or being in charge of assets, should be able to create a proper asset structure that matches the physical location of their assets. They should also be able to standardise each types of asset, centralise the information they put on them and set specific preventative schedules to run against them. Doing so, is the best way to reduce costs, improve workflows and avoid having to purchase unnecessary assets. It also enables you to make the right business and project decisions and optimise the delivery of value.

No, being a small company is no longer a good excuse!

The use of a software is key, so forget about the old excel spreadsheet if you want to be able to obtain meaningful insights that will help you to make strategic decision for your business. It is striking to see how small and medium businesses often don’t even consider the idea of approaching a software provider simply due to their size. There is no minimum amount of employees that you need to have before you decide to get a software application in order to facilitate the operations of your business.

Although, it is probably when you are small that you want to be able to focus fully on the core activity of your business rather than being slowed down by peripheral management issues, right?

You should see the acquisition of a piece of software as an investment from which you will undoubtedly benefit. Imagine being able to collect data effortlessly and organise your workflow strategically?

It is proven, relying on software allows better control of assets, helps to drive standards into organisations and improve reliability and efficiency!

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