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What is Asset Management?
Asset management ensures the effective tracking and maintaining of each individual asset owned by your organisation.
With detailed records of every asset, your asset management system means that you can easily monitor and deal with any potential risks posed to your assets over their entire lifecycles.
Your management system for assets would include an inventory, inspection, prioritisation, identification of highest risk assets, and then appraisals of those.
There are specialised firms and software, such as Jomo247, which can help you with your asset management if your assets are increasingly vast and harder to manage in-house.
Why is Asset Management important?
A good asset management system helps to minimise lost or misplaced inventory, equipment failures and downtime and ultimately maximises the lifetime value of all your assets.
This saves you money through improving the longevity and lower depreciation of products, as well as the time it would take to resource them.
It is also important to have a wider knowledge of your assets at all times for your business accounts, and to ensure your tax costs are accurate.
How can Jomo247 help you with Asset Management?
What is an Asset Management Compliance Pack?
Our compliance packs are collections of free process templates which are free to download!
Each compliance pack has a number of relevant templates which are designed to help you with your business processes.
They have been designed using Jomo247’s process workflow designer.
To use these workflows and automate them to streamline for your business, book a software demonstration today.
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