Adopting robust asset management system to businesses


     
Business in the current age need to adopt and effective robust asset management system and programmes to enhance their efficient operation.
   In today digital age, business failed to pay attention to their asset and end up spending huge some of money on them later instead of maintenance .This could be resolve if organization put adequate maintenance plan in place to increase their  life span of their asset and equipment.

    Asset management when implemented properly will impact positively on the well being of all industrial establishment and could help organization to achieve their goal and objectives.Asset life cycle is likely to increase if it inculcate the culture of maintenance and concept of asset management and that organization begin to train their staff to understand the important of asset management programmes.

   In addition to the above, asset management will  help business keep track record of all asset in stock and to ensure recovery promptly.They allow implementation of risk management plan, remove ghost asset in your stock while incident of theft are lower.Proper accounting for asset recovery process also ensure company maximize the return on asset with no items lost during the process

Comments

Post a Comment

Popular posts from this blog

Innovation development in Financial Service Sector

Image
  The 2008 global financial crisis not only marked the end of the the benign credit environment, it also change the way corporate client and their bankers views transnational banking.Sound transnational banking practices like payment, receivable and reconciliation and trade risk instrument moves back to the center of corporate client business agenda increasing competition for better products offering         Visibility of information become critical as clients sought real time access to their global cash position in order to manage their working capital requirement and liquidity..Equally, international trade products become more important in managing risk and banks are seeking more annuity-based revenues with lower capital cost and less capital consumption while regulator are drafting raft to prevent another collapse.         In Africa, both corporate client and banks have had to invest in technology and operation supporting t...
Read more

Progressive Tax System and Income Equality

Image
  The major innovation in taxation in the economy is the the creation and development of progressive tax systems which play a key role in the reduction of income inequality and support  the economy growth      A proportional tax system, assesses tax rate to taxpayers regardless of income or wealth. It is meant to create equality between marginal tax rate and average tax rate paid. Under a this tax system, individual taxpayers pay a set percentage of their income regardless of total income earned. For example, an income tax of 10% that does not increase or decrease as income rises or falls results in a proportional tax. In this example, an individual who earns $20,000 annually pays $2,000 under a proportional tax system, while someone who earns $200,000 each year pays $20,000 in taxes.       The progressive tax system, assess tax liability as an individual or entity's income increases. Tax burdens are meant to b...
Read more

Turning Business around in the 21st Century

Image
   Many business today operate within complex and competitive environment and likely to suffer the crisis throughout their life cycle and this could lead to the failure or require recovery.Therefore it is very necessary to proffer solution in accordance with business structure, economic circumstance and financial availability.    Business today may required turnaround  due to fundamental challenging such as lack of fund, ineffective personnel, poor products/services, and weak marketing strategy which may lead to business distress and therefore will require a recovery strategy. Management Diagnosis   The success and failure of any business in the 21st century will depend on the management team capacity which is crucial for the good health of any business. Therefore management need to put together good business plan worthy of business growth, profitable and sustainable. A diagnosis of business performance and position should be regularly be re...
Read more