Do you know if the book value of your asset register is accurate? How about that printer in the corner – do you own that asset? More likely it’s on an expensive long-lease contract that just keeps rolling over because no-one knows it’s on a lease contract. Or there’s just never the right time to find the original paperwork and work out when best to terminate or re-negotiate the lease agreement.
The reality is that companies don’t always know where their assets are, let alone:
- How many assets are owned vs leased;
- The condition/status of the assets or even where they are located at any point in time;
- What lease contracts are costing the company over their lifespan;
- Or what insurance, storage, maintenance or licensing costs are being incurred by the assets on your books
In our experience the asset register is constantly out of date – which is why we developed CASM, a cloud-based contract and asset management system which will centrally collects, manages and store all asset-related data in real time.
How does CASM give you reliable control of your contract and asset register?
In a nutshell, the asset and contract data tracked and verified through CASM’s workflow processes enhances visibility and provides detailed, integrated and accurate reporting company-wide.
At a glance, you can see:
- How many assets you have at any point in time,
- Exactly where they are located (via geo-location and useful metatags)
- What assets are performing poorly/ optimally?
- The costs being incurred by leased and owned assets
- All significant contractual deadlines, escalations and prices
With workflow features like Reminder Alerts and escalations, your teams will always be aware of assets needing to be verified, retired or if leased, their contracts reviewed. What’s more, CASM’s mobile platform ensures that assets can be quickly and easily registered and/or verified on the fly.
No more clumsy spreadsheets, outdated data and unnecessary costs associated with unmanaged lease contracts or incorrect asset data!
With all your asset and contract data at your fingertips, your organisation will be able to make informed operational decisions to drive efficiency, streamline processes, reduce expenditure and improve the TCO of every asset your business owns.
If you want to understand more about how CASM enables easy, on-the-fly verification and tracking of your assets, click here.