One of the virtues that a business has is its capacity to possess assets. These assets typically cost huge amounts of investments, hence it’s important to manage and secure them. They may not only come from the business owner but also other entities such as local and international loaners and private investors (shareholders). All of them gamble to make the venture work and because it’s no small thing, business asset management is necessary to protect their investments.
Managing the assets of your business is the process of safeguarding them to ensure that they last long and not get tampered, used irrelevantly, or even robbed. In the following, let’s learn more of this.
Assets may be tangible and intangible. They may pertain to computers, desks, chairs, vehicles, patent, cash, software, insurance, and the likes. Managing them involves the costs of their selection, maintenance, inspection, and renewal. That said, you can gather that they hugely affect the computation of a company’s operation costs. Not only that, the decision-making approach and the optimization of every required process are also greatly affected by them.
Now, let’s delve into the kinds of assets further and how to protect them.
One, any business involved in creating, selling, or distribution needs to invest in tangible assets. Without them, it can’t operate. The story doesn’t end there though. After getting the right machinery, maintenance is a must to follow. This is a chief and practical part of physical asset protection.
Physical assets are basically maintained by ensuring that they are working properly. The longer they last, the more the investment is maximized. When replacement becomes necessary, the equipment is discharged in an organized manner. It is done without disrupting the operation in a major way. This, too, is part of managing the assets right.
Ebele Kemery says that when it comes to intangible assets, equal importance should be given. If you are an entrepreneur and totally clueless about how to go about it, what you can do is seek advice from a business asset protection firm. It can give you wise counsel on how to keep your company protected even when a negative situation arises.
Mainly, a business asset management firm gives advice with regard to both the tangible and intangible assets of the company– from structuring the business, to protecting the technology, to appropriating tax strategies. While you will have to spend paying for their service, you can gain a lot from them in return.
There’s also the possibility of using a kind of business asset management software. This, of course, is not something as personal as working with a pro, but, it can be quite useful in monitoring your company’s resources. It keeps thorough details of the maintenance records, service appointments, as well as replacement schedules of all the physical resources of the firm. It can be programmed to provide warnings for these events to keep you right on track. This kind of software can also secure the very computers you are using. It can block and inhibit malware which may severely affect business operations. The downside is it’s limited to the details that you input, but, it can be pretty handy in a lot of ways.
Ebele Kemery a Portfolio manager and associated with JPMorgan Investment Management. Ms. Kemery is responsible for formulating our view and investment decisions for major energy commodities including, but not limited to: crude oil, gasoline, heating oil and natural gas.
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