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The Asset Challenge – What, Where & When

Overwhelmed!  I think that’s a pretty accurate description of what most of us are feeling these days.  We seem to be moving from one worldwide/nationwide/local/business/personal challenge to the next – and (especially lately) almost waiting for the other shoe to drop.  It never seems to end (which is true, that’s just life).  But that doesn’t mean that challenges can’t be addressed and improved.

The Asset Challenge

I cannot begin to list the number of times when we started working with an organization on an asset inventory solution we found that they really just wanted a magic bullet to make it all go away.  Who wouldn’t?  But no such “bullet” exists for most situations – so eventually we have to face them.

Many challenges are ignored or denied.  But they are still there – and growing – until something forces your attention.  In the case of asset challenges, these events make you face all of those issues that grew out of inadequate record-keeping and inefficient processes.

The Asset Challenge Approach

HL Group’s focus is on assisting organizations with getting a handle on their fixed asset investments.  Once you have that, you can then focus on leveraging this information into better operational and financial

decisions.

Eat An Elephant One Bite At A Time

With any overwhelming situation, the first question to answer is, where do I start?  Remember the adage about eating an elephant?

Like many significant efforts, the best approach is to break down the challenge into bite-sized pieces.  For getting a grip on your fixed asset situation, you need to know:

  • What do I have today?
  • Where is it physically located?
  • When has it been seen?

Getting all the answers to these three questions can be accomplished easily with a phased approach.

Phase 1:  Get Eyes on Your Assets

The central component of our solution leverages mobilePLUS, a packaged asset inventory solution.  mobilePLUS was designed to be rapidly deployed in your existing business environment and, in many cases, using mobile devices that you already own.

Once in place, mobilePLUS will enable your team to easily scan and record any assets that they find and where they found them.  That knowledge alone is an enormous step forward in improving the accuracy of your asset data.

Phase 2:  Record What You See

Once you know what you have and where you have it, you can better assess what you need to know about it.  The next phase generally entails leveraging that information to see where we might want a higher degree of focus on going forward.

Here is where you can use the flexible configuration options in mobilePLUS to expand what is collected by your team – within the same interface they were already familiar with from Phase 1.  No additional investment in equipment, training, or other resources is mandatory – you’re just building on what you already have – without disrupting the process.

Phase 3:  Use Your Results

The final phase is maintaining all your current and historical data where is both comprehensive and accessible – and using it.  Fixed asset investments are one of the most significant investments that organizations make.  Now that you know what you have, where you have it and its history, you can make better operational decisions about how you leverage your assets – and better-informed financial decisions about how you expand and replace them.

 

Getting through these phases rapidly, with little operational disruption or expense, is the key to successfully addressing your asset challenge.  Our goal is to take the fear and uncertain path out of the process and not make it feel “overwhelming”!

As with any automation project, the mantra we recommend is “Patience and Persistence.”  Start with a good plan that can be adapted as new information is discovered, so you have a path of continuous improvement.

And don’t forget the old saying when dealing with those overwhelming challenges, “you eat an elephant – one bite at a time!”