Asset Management – Expenditure Control
Greater transparency in the government sector also means increased pressure on systems and controls; there has never been a more pressing need for sound management processes and systems than there is in today’s environment. A primary method to enhance corporate governance in the sector and seek its sustainable development is to ensure compliance with statutes and prescripts while managing procurement, reduction of consumption and ensuring the management of budgets.
Enterprise Asset Management is the key to expenditure control
Meet statutory requirements
The law requires you to keep accurate accounts and to produce a Balance Sheet and P&L at least annually. This means you must have some way of working out the value of your fixed assets – their cost and their depreciation. Straightforward and accurate statutory reporting is a major benefit of asset management.
Control valuable IT assets
Most organisations are dependent for their day to day running on their IT assets – the hardware, software and systems which make up their IT infrastructure. But IT equipment can easily get out of control.
Make informed decisions
Lack of accurate information means lack of transparency and inability to manage risks. If you know what you’ve got, what it is being used for, how much its worth and what it’s costing you, then you are in a position to anticipate, weigh up options, and proactively make informed business decisions based on real information.