Asset Management

Asset management (financial terms) is often used to refer to the investment management of collective investments , whilst the more generic fund management may refer to all forms of institutional investment as well as investment management for private investors. Investment managers who specialize in advisory or discretionary management on behalf of (normally wealthy) private investors may often refer to their services as wealth management or portfolio management often within the context of so-called "private banking".

Investment management is the professional management of various securities (shares, bonds etc) and other assets (e.g. real estate ), to meet specified investment goals for the benefit of the investors. Investors may be institutions (insurance companies, pension funds, corporations etc.) or private investors (both directly via investment contracts and more commonly via collective investment schemes eg. mutual funds ) .

Asset management (business terms) is used to manage physical assets in most business organizations. Management of physical assets includes:

Initial selection
Maintenance
Inspection
Renewal

Properly used, asset management can be a powerful weapon in your arsenal of tools for increasing your productivity and profit. At ARCH Business Ventures, we use asset management for 2 purposes.

To ensure we select the correct equipment, it is fit for purpose, properly maintained and operating in an optimal fashion. In real terms, we save money, by making our equipment last longer, through a proper service schedule, replacing worn out parts and selecting equipment, providing full functionality for our specific business requirements.
We also use asset management software, along with other software as a repository for knowledge that we gather over time. Irrespective of whatever task we undertake, we gain knowledge and feedback, which we use over time to help us to improve our operations and the way we keep our quality to the highest standards.

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Practical asset management

Businesses involved in manufacturing, distribution, retail, catering, entertainment or even help/call centre work, tend to have two types of assets. They are:

Physical assets

The selection of the correct equipment to perform a process or job optimally and keeping it fully functioning for as long as possible, will save potentially, significant amounts of capital outlay that would otherwise be used to replace failed equipment. Every business has physical assets, such as telephones, computer equipment, manufacturing equipment, test equipment, tools used to create your product or service etc...

Non physical assets

Non physical assets are intangible by their very nature. They could be:
Knowledge of a particular process, (The content on this website, for example)
Patents,
Goodwill
A business plan or a mission statement,
Anything you have created over time and have applied effort to create..

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Asset management software

Asset management software provides valuable help, by maintaining accurate records of all of your assets, physical or non-physical. A number of vendors provide asset management software, which tends to fall into distinct catagories:

Automated: Managing computer networks, computer peripherals and computer software assets. This type of software uses networking technology protocols in the form of SNMP (Simple Network Management Protocol) to query network connected devices on an IT infrastructure. .The SNMP protocol, is inherently built into most network connected devices and provides detailed data about the hardware, firmware and network enabled software.

Repository: Collected data is organised and stored for efficient retrieval. This type of system can readily interface with automated data collection tools, such as bar code readers, sensory systems etc...

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