Asset Management
CHAPTER ONE THE PROBLEM AND ITS SETTING
1.0 INTRODUCTION Asset management is a concept that companies use to ascertain the value of their assets. It provides a quick measure of the worthiness of the organization and so becomes easier for organizations to prepare their final accounts as they are able to quickly estimate the value of their assets. Well managed organizations are required to perform regular fixed asset audits. Tracking and managing corporate assets and equipment is a challenge to most organizations especially when there is a large volume of assets or when those assets move frequently between departments or multiple branches. However in today‟s regulatory environment, it has become more important than ever for companies to maintain visibility and control of fixed assets. Many organizations‟ asset management systems are commonly those ones refined over a number of years and originally developed based on comparative primitively computerized applications. Little use is made of technology to streamline processes to improve either its accuracy or efficiency in asset management in particular Information Technology assets. A good asset management system however, aids in decision making and in the overall management of all Information Technology assets in organizations.
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1.1 BACKGROUND TO THE STUDY. The management of assets is very critical to a business‟ success; it has become mandatory for businesses to effectively and efficiently manage their assets. Poor record keeping and poor choices of Asset Management Systems (AMS) can lead to an organization‟s failure. Blue Ribbon Industries (BRI) is a leading Zimbabwean food stuff manufacturing company. Its main functions are milling of millie-meal, flour and production of stock feeds. Most of its main operations and functions are computerized, but it came to the attention of the researcher that though these operations are computerized, the Information Technology Asset Management System (ITAMS) was still
1.0 INTRODUCTION Asset management is a concept that companies use to ascertain the value of their assets. It provides a quick measure of the worthiness of the organization and so becomes easier for organizations to prepare their final accounts as they are able to quickly estimate the value of their assets. Well managed organizations are required to perform regular fixed asset audits. Tracking and managing corporate assets and equipment is a challenge to most organizations especially when there is a large volume of assets or when those assets move frequently between departments or multiple branches. However in today‟s regulatory environment, it has become more important than ever for companies to maintain visibility and control of fixed assets. Many organizations‟ asset management systems are commonly those ones refined over a number of years and originally developed based on comparative primitively computerized applications. Little use is made of technology to streamline processes to improve either its accuracy or efficiency in asset management in particular Information Technology assets. A good asset management system however, aids in decision making and in the overall management of all Information Technology assets in organizations.
1
1.1 BACKGROUND TO THE STUDY. The management of assets is very critical to a business‟ success; it has become mandatory for businesses to effectively and efficiently manage their assets. Poor record keeping and poor choices of Asset Management Systems (AMS) can lead to an organization‟s failure. Blue Ribbon Industries (BRI) is a leading Zimbabwean food stuff manufacturing company. Its main functions are milling of millie-meal, flour and production of stock feeds. Most of its main operations and functions are computerized, but it came to the attention of the researcher that though these operations are computerized, the Information Technology Asset Management System (ITAMS) was still