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Use examples of historical situations to help sell the point. For example: “Last month the company was hit with the ‘nasty-code’ virus. It took three hours to patch and recover our most critical systems. During that three-hour window, our 50 ‘business critical’ users were unable to work (that adds up to 150 man-hours). It took three IT resources to resolve the problem.” Let’s assume each employee earns $50 per hour.
Asset management is a comprehensive term and usually requires professional handling of the situation. There are many commercial asset-managing firms that offer services for administering various resources of the company.
Accurate and frequent management within funds is very important when using asset management. Global asset management uses a system of frequent asset allocation, this is found in professionally managed portfolios and helps to meet the client’s specific needs. It is important that the strategies and funds cover a large scope of asset classes and currencies and can be adaptable to all market conditions.
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For media and advertising agencies, creative products like artwork, videos and images are also digital assets. Specialized web-based asset management applications for these industry help media companies automate the process of viewing, publishing, maintaining, and marketing their multimedia gallery or store. Software product development companies use online asset management applications for electronic distribution and management of the digital products they have developed.
The tracking of the physical location of these assets, the ways which can be used to manage these assets, and accounting for amortizations, depreciation values and future resale values of these assets are also part of asset management.
There are also asset management services that manage one’s money through stocks, bonds and their cash equivalents. These services are more complex than the other services since expertise and much knowledge is needed by asset management advisors in the fields of asset management and the stock markets.
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