Total Asset Visibility Provides Accountability, Compliance and Creates New Efficiencies
SANTA MONICA, Calif., Nov. 11, 2004 – AssetSmart, the leading global asset management software provider, presented its product at the Association for Financial Professionals (AFP) 25th Annual Conference, the finance industry’s most important forum. In addition, Brian Thompson, vice president of sales for AssetSmart also presented and made available the AssetSmart white paper, "The Value of Total Asset Visibility on Shareholder Value." The presentation by Thompson, former vice president of sales for SunGard Treasury Systems, Amercias, showed attendees the impact asset management has on reducing costs, capital expenditures and creating new operating efficiencies.
"As a member of AFP for more than a dozen years, I wanted to bring a very important issue to the surface for financial professionals – the importance of optimizing their investment in fixed assets. By more efficiently managing these assets, organizations have reduced capital expenditures by up to 20 percent and improved key financial ratios such as ROI and ROA used in part to determine shareholder value."
Currently in wide use by leading companies like Boeing, Honeywell and Lockheed Martin, AssetSmart enables an organization to better track and manage physical assets and components that have a direct impact on operating costs and capital budgets. It is a unique global asset management solution that provides total asset visibility across the agency resulting in improved asset accountability and a reduction in capital expenditures.
A fully integrated solution offering end-to-end asset coverage from planning, tracking, management and redeployment in a seamless system, it is tailored to the unique requirements of each client. AssetSmart embraces all five dimensions of total asset process integration, including:
§ Enterprise model for total asset visibility
§ Single process for asset infrastructure management
§ Seamless life-cycle management
§ Interrelated support functions including calibration, repair, maintenance and spares tracking with unlimited structured service history
§ Structured cataloging results in improved data quality
Key end user savings result from the following unique aspects of the solution:
· Enterprise asset visibility results in capital appropriation reductions of up to 20 percent per year
· AssetSmart improves return on assets, asset utilization, ROI and accelerates cash flow through reducing the need to purchase new equipment when already owned redeployable equipment becomes available
· Cost savings result from new asset management operational efficiencies
· Ensuring compliance with government and other regulatory standards avoids negative audit consequences
· Reduction in costs associated with managing multiple non-integrated legacy systems