Managing Assets with Intelligence - Key Performance Indicators Save Money
The processes of Enterprise and Strategic Asset Management can recover significant financial savings throughout the entire business, when measured correctly. This white paper highlights the concept of Key Performance Indicators (KPI’s) and how to maximize their usage throughout the asset management process to recover investment. Proper use of these KPI’s can be used to justify the economic reasons for adoption of a system-wide process, or can be used to optimize the process already adopted.
All of the firms in this study share a common factor: selection of E-ISG as the company to help engineer the adoption of the processes as well as provide guidance for conducting an initial wall-to-wall inventory. The firms selected Visual Asset Manager (a product of Asure Software) to provide the centralized asset management database for each firm. Additionally, all firms in this case underwent a move and consolidation of their headquarters building. Although this paper alludes to one firm (called “the firm”) in this study, we are really referring to a composite picture of several firms. We applied points of measurement to all firms adopting this process. Calculations of labor costs, labor hours, processes in play and tax dollars saved were taken from actual labor statistics, and property tax forms from one firm. The KPI’s can be applied to everyone.
Here are some of the key metrics you will learn about:
- Centralized Asset Control Process.
- Reduction of labor costs to maintain duplicated databases.
- Centralized Lease Management
- Transactional Inventory Processes.
- Appraisal of Assets and Property Taxes.
- Value of Donated Assets.
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