Asset management is a complex issue, one that has risen substantially in complexity over the past couple of decades. With our transition into the digital environment, the kinds of assets we deal with and the kinds of threats that need to be mitigated have multiplied, and it’s important that business owners take these changes seriously.

If you’re trying to get started with understanding your asset management requirements, then you’ve stumbled on the right article. From identifying which of your assets need managing to implementing and testing various solutions, here’s how you get going with that process.

Identify Which Assets Need Managing

It may seem obvious, but before you can start putting together any kind of asset management system, you need to first work out what assets you’re dealing with. There will be more obvious assets, such as car fleets and computers, but then there may be more invisible assets as well, such as data.

Each of these can require a very different approach when it comes to managing and protecting them, and it’s important that you don’t apply strategies from different areas and expect the same positive outcome.

Set Your Priorities

When it comes to asset management, you’ll very rarely be able to implement the most effective system available. Due to budget constraints, logistical limitations, and the sheer superfluousness of adopting an over-the-top approach, you’ll have to prioritise certain areas over others.

To do this, think about three main issues: the assets that are most vulnerable, the assets that are most essential to your business’s operations, and the assets that are most difficult or expensive to replace. Based on these factors, you can then typically start to

Look for Solutions

Once you know what assets you need to manage, and have some kind of idea of how you’ll prioritise those assets, you can start looking for solutions. In addition to highly complex solutions, you can also look for modern takes on tried and tested options.

Take electronic key cabinets from providers like Traka, for example  – they can make it much, much easier to protect and manage all key-accessed assets, along with a range of compact (but often expensive) devices such as handheld computers.

Implementation and Testing

Finally, you’ll be ready to implement the solutions you decide on, and then test their efficacy. If you’re replacing an existing asset management solution, this can be a little more complicated. You’ll need to make sure that you’re careful during the transfer process, and that you avoid unnecessary or unintentional redundancy once your new solution is up and running.

You also need to pay attention to testing the solutions you choose, to ensure that they’re effective. If you are replacing an old solution, you can compare efficacy rates across whichever metrics you have available to you.

Understanding your asset management requirements can take some time, but it’s important to put in the effort to get it right. Once you have a set of solutions you’re happy with, you can continue tweaking them to ensure ongoing success well into the future.