Asset Management
Asset Management Company in Abu Dhabi
Asset management is a systematic process of deploying, operating, maintaining, upgrading, and disposing of assets cost-effectively. It is important for a business to manage its assets and make them work to obtain the best possible returns. We assist you in recognizing the values of assets and accurately advising. Accurate is a pioneer physical asset management company in Abu Dhabi, Middle East. Accurate with its Asset Management team is capable of taking care of inventory verification and valuation of the physical stock and can take the responsibility of the verification, compilation, and maintenance of client’s property & equipment. Our team of Asset Management in Abu Dhabi provides the best performance, increasing value for our clients and shareholders through consistent diligence, commitment, innovation, and strategic improvement.
What is Asset Management?
Asset management is the process of cost-effective asset development, service, maintenance and sale. The concept most widely used in finance refers to persons or organizations that control assets on behalf of individuals or other entities. Each company must track its assets. The stakeholders concerned shall thus know what assets are available and what appropriate returns can be made from them. A business’s assets are divided into two main categories: fixed and current assets. Corporate or non-current assets refer to long-term assets acquired, whereas current assets are assets that are able to be turned into cash in a short time. There are two main things that people are interested in learning when it comes to Asset Management services in Abu Dhabi. Firstly, what is the role of asset management? Secondly, how does an organization create a successful asset management plan?
The Importance of Asset Management
There are several reasons why businesses should be concerned about Asset Management service Abu Dhabi, including:
1. Can enable a business to keep track of all its assets
This makes it possible for the company, whether liquid or fixed, to monitor its assets. Business owners will be aware of the position of properties, how they are used and whether any improvements are being made. Accordingly, asset recovery can be rendered more effectively, which leads to improved returns.
2. Helps ensure that amortization rates are correct
The asset management process ensures that the financial statements associated with assets are kept up to date, as assets are reviewed regularly.
3. Helps identify and manage risks
Asset Management service Abu Dhabi involves defining and managing the risks resulting from the use and possession of such properties. In other words, an organization is always ready to counter any risk.
4. Removes spectral assets in the company
There are cases in which missing, destroyed or stolen assets remain in the accounts. The owner of the company will be aware of the assets lost without a strategic asset management plan and will therefore not keep track of them in their accounts.
Developing a Strategic Asset Management Plan
Asset ownership is a portion of any private or public organization. A business owner must develop a strategic plan to manage the assets effectively.
1. Complete an Asset Inventory
A shareholder must first take into account all the properties he owns. He won’t handle them efficiently unless he knows the exact amount of properties in his inventory. The following should be included in the planning of an inventory of company assets:
- Total count of assets
- Where the assets are
- The value of each asset
- When the assets were acquired
- The expected life cycles of the assets
2. Life Cycle Risk Calculation
If a business owner wishes to be reliable, then the cost of the entire life cycle of each asset should be measured. Many owners of businesses make the mistake that only initial purchasing costs are measured. During the life cycle of the asset, additional costs such as maintenance costs, condition, performance modelling and disposal costs are likely to be incurred.
3. Set quality levels
The next step is to assess the level of service after measuring the life cycle costs. In other words, the overall quality, ability and function of the various services rendered by the assets must be identified. In doing so, the operating, maintenance and renewal activities necessary to retain the assets are decided by the business owner.
4. Long-term Financial planning process
Ideally, the asset management mechanism adapted by a business owner can easily lead to financial long-term plans. The owner will then determine the realistic targets with a clear financial plan and the priorities.
Benefits of Asset Management
There are many benefits of adopting an Asset Management service Abu Dhabi strategy, such as:
1. Improving Acquisition and Use
By keeping track of the assets of a company during its life cycle, a business owner may enhance its acquisition and asset management techniques. One good example is Cisco Systems, which was able to reduce costs through the management of Computer inventory. The organization has found inefficient revenue collection by applying such a policy by creating a better plan for the acquisition of equipment needed by employees.
2. Compliance enhancement
Government entities, NGOs and businesses are expected to report thoroughly on the manner in which they acquire, use and disposal of assets. A majority of them record their assets data in a central database to ease the reporting process. In this way, you can conveniently access all the details you need when you need to compile reports at the end of your financial year. Asset management is a structured method of cost-effective asset deployment, operation, maintenance, upgrading and disposal. It is important for a company to manage and ensure the best possible returns on its assets. ACCURATE Accountants allow you to define and correctly inform asset values. In Abu Dhabi, Middle East, ACCURATE is a leader in physical assets management. ACCURATE‘s Asset Management service Abu Dhabi Management Team is qualified to perform inventory reviews and physical stock evaluation and to take responsibility for verifying, organizing and maintaining customer properties. The best efficiency, and value for our clients and shareholders are achieved by our asset management team in Abu Dhabi, through constant diligence, dedication, creativity and strategic development.
Testimonials
” I have been using the service from Accurate Accounting Solutions for over 2 years and the service has been outstanding. They have a great team that is professional and always available to answer any questions you may have. I would recommend Accurate to any business that is thinking of outsourcing their Asset Management works.”