The current recession is hitting companies all around the world, so managing your fixed assets UK and getting the most money from them is becoming extremely important. A large number of companies are seeing that asset management is becoming more vital within business as every company attempts to get the most from their business assets.

This need for efficiently managing asset tracking UK has led to more companies using real time solutions to manage their assets. By knowing the latest information about your assets, you can make informed decisions to avoid making poor deals. It has also led to more companies using asset management services like reliability centered maintenance (RCM) or condition based maintenance (CBM).

RCM is a way of assessing your assets and trying to ensure that equipment failure that could damage the business does not happen. RCM looks at what and how the item is used within the company. It then looks at how failure of that item can occure and what effect is would have on the companies’ work. Finally, it looks at how changes within the company can help to avoid failures.

A study has been carried out by the Aberdeen Group called “Asset Performance Management: Driving Excellence Though a Reliability Approach in Real Time”. The study looked at companies and ranked them based on 3 different factors, overall equipment effectiveness, unscheduled asset downtime, and complete and on time shipments. The study found that the best companies managed a 89% equipment effectiveness, 97% complete and on time shipments, and finally only 2% unscheduled asset downtime.

The study also discovered how a wide range of techniques were normally used by the top companies to ensure they get accurate data from their assets. There were a few technologies that the study found to be the best for the top companies. It was found that the top companies would often invest in advanced asset management techniques such as remote monitoring.

The different technologies help companies to get thge latest information about their assets to help their company employees. This now means that informed decisions can be made based on the information retrieved about their assets. It also aids companies to see how their financial earnings are effected by the performance of their assets.

The overall requirement for more advanced methods of asset tracking has led to a rise in companies offering different asset accounting UK software to help you manage your asset data once you have retrieved it.

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This entry was posted on Friday, September 4th, 2009 at 12:07 pm and is filed under business finance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.