By Joe DeSiena, President Consulting Services

Key Benefits of Asset Management

For Your Company

  • Increases knowledge and trust of Asset Data and Asset Locations
  • Reduces Network Compliance & Security Issues
  • Improves accuracy of Asset Accounting / Depreciation
  • Improves Asset Life Cycle Management
  • Increases Business Control for Asset ownership, usage, and procurement
  • Reduces Number of Audits

For Your Customers

  • Increases Customer Satisfaction
  • Increases Service Delivery Performance and Contract Accuracy
  • Reduces risk of unknown equipment in a customer’s network
  • Improves Entitlement verification and speed
  • Improves Depot Sparing Accuracy to support Customers
  • Creates a Move-Add-Change process with Customers

Best Approach

An asset management solution should meet your specific need which entails evaluating your situation and developing a customized solution, whether it is a better tool or a revised process.  Your team should have significant experience developing processes and applications to implement asset management activities ranging from data extraction to data assimilation, as well as associated systems development. They need to know how to focus on specific areas for analysis, development or reporting or assist in a complete solution and implementation.

The components of Asset Management solutions consist of:

Process and Tool Evaluations

  • Conduct Asset Management tool assessment
  • Evaluate “as-is” asset data collection sources and methods
  • Define improvement areas and data validation requirements & solutions
  • Serve as SME for implementations

Data Collection & Validation

  • Develop process and standards for collecting inventory data (Electronic or Manual)
  • Perform automated or semi-automated process to validate results
  • Coordinate or perform physical or network inventories at company or customer locations (Installed base, entitled base, stock equipment)

Data Reconciliation

  • Perform automated or semi-automated process to translate and reconcile results
  • Define asset data quality requirements and business rules for reconciliation
  • Develop process and tools to semi-automate reconciliation of asset data

Process, Policy and Procedure Development

  • Conduct Asset Management. Process Analyses and Evaluations
  • Design and develop processes and capabilities to support PETRO implementation
  • Define policy and procedures required for asset management process in both near-term and long-term

Requirements / Systems Development

  • Develop functional and systems requirements; coordinate and engage IT in development of automated system to analyze, extract, translate, reconcile and assimilate data
  • Develop working models and systems as needed to support Asset Management process
  • Analyze client’s asset data management, storage and access requirements
  • Develop asset data modeling and warehousing requirements

Data Maintenance

  • Develop processes to support asset management process for the long-term implementation including ongoing data maintenance and integrity
  • Develop Asset Performance Monitoring and Control processes

EDM Process Development

  • Assessment of Ongoing Data Management Processes
  • Development/Remediation of EDM processes
  • EDM System Development/Implementation
  • EDM Outsourcing

Training & Education

  • Create training and education packages that will increase the knowledge and speed in deploying asset management best practices

To learn more about Bardess and how we can help you with your Asset Management needs, contact us now for a free, no obligation consultation.

 

About the Author
Joe DeSiena is President of Consulting Services at Bardess Group, Ltd., a Management Consulting firm specializing in data revitalization, business process design, and information technology for services-related businesses.   He is currently a board member of the Society for Information Management in New Jersey.

He is an experienced management consultant with over 20 years of professional experience assisting Fortune 500 clients in resolving business issues related to the Triangle Relationship between business data, processes and systems functions for services and sales organizations. More specifically, he has directed engagements in services marketing and delivery, business planning, data revitalization, data migration, process design and reengineering among others. He has shared his experience and insights in presentations before numerous senior client and association groups.

Joe DeSiena’s industry exposure includes data networking, telecommunications, manufacturing, pharmaceuticals, financial services, utilities, travel and entertainment among others. He has corporate management experience in major companies such as American Express, Chase, Bristol Meyers-Squibb, Coopers & Lybrand (PWC), Deloitte Touche, and Pan Am.  Joe DeSiena is a graduate of the Stern School of Business at NYU with an MBA in Finance. He received his B.A. in Mathematics and Economics from the State University of New York at Stony Brook graduating Magna Cum Laude with Phi Beta Kappa honors.