Asset management services refer to a system that monitors and maintains things of value to a company. These can be both tangible (physical assets like building and IT equipment) and intangible (assets that aren’t physical like trademarks, patents and intellectual property). Asset management is a systematic process of deploying, operating, maintaining, upgrading, and disposing of assets, in a cost effective manner.
Although the term is more commonly used in the financial world to describe individuals and companies who help manage investment for others, asset management also relates to facilities management, where external organisations help manage the assets of companies, enabling them for focus on core business functions. Below we look at 5 such circumstances where asset management services may be required.
5 Asset management services that can help your business:
- Help desk assistance
Depending on the size and scale of your business, you may require help desk assistance from time to time. What this does is provide support (often 24/7, 7 days a week), often as one central information management system. These support desks can be a huge benefit to organisations of all scales and sizes.
- Health and safety
A big area that asset management companies can help is health, safety, quality and the environment (HSQE). Not all companies will have this sort of expertise in house, so to have a highly qualified HSQE team that you can call on as and when needed, can prove hugely valuable to an organisation.
- Fire and security expertise
One area that often requires asset management assistance is fire and security expertise. These are resources that most organisations simply don’t have access to themselves and therefore need to rely on the expertise of third party asset management companies to help. From emergency lighting and fire extinguishers to CCTV and 24 hour security staff, asset management companies can help organisations efficiently and effectively manage their building and other tangible resources.
- Compliance and risk management
Safety laws, regulations and standards update on a regular basis, and keeping on top of all of these changes can often prove challenges for organisations of all sizes. Failure to have the right controls and culture in place can often result in injury or major financial loss, so ensuring you are compliant with safety standards and other key industry standards is important. From risk assessments and fire checks, to asbestos surveys, asset management companies can help you remain compliant and remove elements of risk that may currently be in place.
- Maintenance services
One final service to be aware of from asset management companies is maintenance services, both planned and reactive maintenance. This can be regular maintenance checks to ensure your building is compliant, again reducing potential risk for your organisation. Maintenance is often required for building structure, electricals, mechanical and HVAC assets, allowing you to stay on top of how your infrastructure is performing.
These are just some of the ways asset management companies can help you better manage the day to day and weekly running of your organisation. With continued advances in technology and changes in laws and regulations, having experts to call upon when required can really help organisations prosper across many industries.