ROI – Return on Investment. In today’s competitive markets and challenging economy, it is more important than ever to ensure that the investments we make have an effective return. As members of our organizations – and even as consumers – we’re all constantly looking for the ROI, where it stands and how it can be improved. In Asset Management, ROI includes not only the investment in the assets being managed, but also in
the methods used to manage those assets – where they are, what shape they’re in, how much it costs to own them, etc.
Traditionally, Asset Management activities have been focused on periodic inventories to capture asset information. These can be time consuming, prone to human error, and in many cases, given a low priority with all of the other things that our teams need to get done. As a result, we may overbuy items to ensure availability so we don’t get caught short and over- or under-report our assets based on whatever information we do have. We just never seem to have a complete view and reliable on what we own and where it’s located.
Enter the Asset Management Solution. There are great Asset Management Solutions (AMS) on the market – each with their own advantages and challenges. An AMS needs to be easy to use, cost effective and, most importantly, improve the asset data. So when we talk about Return on Investment for Asset Management, if it isn’t exception is all of these areas, it isn’t worth considering.
So what does a solid ROI in Asset Management look like? In our next post, we’ll break down the ROI components critical for an Asset Management Solution beginning with the all-important Data.
HL Group’s Asset Advantage PLUS is the foremost Asset Management Solution for PeopleSoft AM. Asset Advantage PLUS, coupled with our proven experience and comprehensive implementation methodology allows us to deliver quality Asset Management solutions quickly, on-time and within budget.
Find out more about Asset Advantage PLUS and HL Group by contacting us at firstname.lastname@example.org.