The difference between Financial and Operational Asset Users?
The Problem: Users have primary focuses and objectives that vary significantly
- Financial Asset users and Operational Asset users are distinct groups of stakeholders who utilize Assets in different ways within a business or organizational context..
- Financial Asset users primarily focus on the financial aspects of an organization.
- Operational Asset users are individuals or departments who rely on assets to carry out day-to-day operations and achieve operational goals.
The Solution: A Central Asset Register that Caters for both Users
- A Central Asset register provides complete transparency of all asset data.
- Maintaining a fixed asset register simplifies calculation of annual depreciation and forecasting profits.
- Provides the ability to generate various different Financial reports and perform analysis on the entire asset base.
- A centralized Asset register reduces business risks and helps to strategize better Asset management
- Provides Operations the ability to generate various different reports & perform analysis on their allocated Assets
- Provides a full breakdown of all Asset Warranties
- Provides Operations Access to a complete inventory of all Assets including responsible person and location
- Provides Operations Ability to View and Identify Company Assets, Report and also Manage Incidents easily
- Operations can Confirm that Assigned Employee Assets exist & their condition
Financial Asset Users: Include individuals or entities that have a vested interest in the financial performance and value of an organization, such as investors, shareholders, lenders, or analysts. These users typically evaluate an organization based on its financial statements, profitability, cash flows, and overall financial health. Their primary concern is to assess the return on their investments and the potential risks associated with it.
Operational Asset Users: Operational asset users, on the other hand, are individuals or department within an organization who rely on assets to carry out day-to-day operations and achieve operational goals. These users can be employees, managers, production teams, or other operational stakeholders. They use assets such as machinery, equipment, technology, inventory, or facilities to produce goods or services, optimize processes, and meet customer demands. Their primary concern is to ensure the efficient utilization of assets to enhance productivity, streamline operations, and drive revenue growth.
In summary, financial asset users focus on the financial implications and returns associated with investments in an organization, while operational asset users concentrate on the effective deployment and utilization of assets to support operational activities and enhance overall performance.
