Asset Register Creation

The Asset Register Creation OR A.R.C is concerned with perhaps the most important part of any asset management solution, the formation of an accurate asset register. In the ARC process a team of trained asset professionals are sent into the field to “get the facts”.

The Facts:

• What do I own?
• How critical are each of the assets to my businesses success?
• What condition are these assets in?
• Are these assets still under warranty?
• What are the values of these assets?
• Where are these assets located?
• Who is using these assets?
• How much are the assets costing me?
• What depreciation Model should I apply to these assets?
• What is the remaining life in each of these assets?
• What are the ongoing operational costs?
• How and when will I need to dispose of this asset?

Once a company has the facts all the information is used to populate the Fixed Asset Register. Some of the benefits which can be leveraged from an accurate asset register include:

• A reduction in cost of total asset ownership
• Centralised database of accurate available company information
• Ability to accurately budget
• A solid platform from which all to launch all asset management initiatives
• Reduction in insurance premiums
• Statutory compliance
• Bridge inter departmental gaps between operations and finances
• Reduced Maintenance Costs
• Ability to easily exercise warranty or insurance claims
• Better corporate citizenship through responsible asset ownership