Businesses and individuals can benefit from effective asset management, which safeguards possessions and valuables against theft or loss. In this guide to asset management systems, our experts at Sovereign Fire and Security explain how security solutions can positively support successful asset management systems.

What is an Asset Management System?

Most typically, an asset management system is software or processes used to manage a business’s equipment and inventory. It describes how a business systematically manages and monitors what they own, both tangible and intangible assets. Depending on the type of business, amount of assets and value of assets, the system processes may vary a lot.

For businesses with many assets and quick turnarounds, such as a warehouse, it is critical to track and monitor each item and be aware of stock levels as goods move. For shops, this tracking is also key, as retailers must be able to provide what is promised and can only do so with effective asset management. In these instances, the asset management system consists of mostly automated processes, specialist software and regular human involvement.

Other types of business premises, such as offices, may be less concerned with recording goods and stock levels, and more about protecting assets belonging to the business. As an example, hotels may use stock level counting to manage housekeeping assets, but security solutions to protect the belongings of guests. This is similarly the case for private residences and individuals concerned with the security of their assets.

See more: Best Ways to Protect Your High Value Property

Fortunately, there are security solutions that can be applied to premises and tailored to requirements to safeguard assets.

Why are Asset Management Systems Important?

Here are some of the top reasons to have an asset management system:

  • Cost saving – Missing or stolen goods can massively cost businesses. Whether its batch of stock or expensive hardware, businesses want to avoid the financial hit.
  • Increase efficiency – Knowing if your business has things and where they are can speed up processes.
  • Maintain reputation – If a business is robbed, especially if multiple times, then their reputation can be harmed and relationships within the industry may suffer.
  • Overall productivity – Having an awareness of assets and the condition they are in can help business leaders maintain productivity of employees.
  • Safeguard irreplaceable assets – Some assets simply cannot be lost or stolen as they are irreplaceable. This can include sentimental valuables in a private home, or valuable data for businesses.
  • Assure safety – Employees may not feel safe if assets are not properly protected. Especially if prior security concerns have occurred.

Tips for Protecting Assets

Here at Sovereign Fire and Security we help businesses and individuals successfully safeguard assets, a vital part of asset management. For commercial businesses, check out our tailored asset security advice.

Install Access Control System

The traditional lock and key methods of security are outdated and less effective when compared with modern access control systems. Now, businesses can more securely and quickly determine who has access to where and when. From fobs and card systems designed for heavy footfall, to advanced biometric solutions for very limited access, there is an access control system for all requirements.

In terms of protecting assets, the role of an access control system is not to allow entry but to prevent unwanted people from accessing critical areas. For example, a low-level employee will have limited access around the premises compared to a manager, who can enter all private areas. Access control systems reduce the ease at which assets are accessed.

See more: Access Control Methods Explained

Have CCTV Coverage

CCTV is must-have component for an effective commercial security solution; it can be incredibly useful in both deterring criminals as well as monitoring premises.

Having visible security cameras placed at sensible places around your business premises can often be enough to deter criminals from gaining entry and damaging assets. It is important to place CCTV cameras in useful positions, such as entranceways and covering important assets, and to ensure their view cannot easily be obstructed or tampered with.

If an incident does occur, CCTV footage shows video evidence and can be used to identify criminals. Without footage, businesses may be left wondering what went wrong, with little idea of what to do to prevent it from happening again. Business managers may feel reassured by the presence of CCTV, even if an event doesn’t occur, as they can keep an eye on the premises and assets when away using remote surveillance.

Increase Cyber Security

Many business functions are controlled online and through software, therefore if these are compromised, the business faces a huge security breach. This is especially important when regarding data, as data may be regarded as a business’ asset; assets don’t have to be physical, and often data is invaluable to businesses.

Bolster your business’ cyber security to be safe and assured in all aspects of your asset safety. A cyber security breach can be extremely costly financially and in terms of reputation.

Stay Alert

If a business or employees become complacent or assume everything is automatically safe because there are security measures in place, things can go wrong. Human error can account for lots of security issues, so it is important businesses don’t slack on training and continue to keep good security practices. Check out our blog on 8 security checks everyone should do.

Additionally, it is critical that fire and security systems are regularly tested and maintained to ensure they continue to work well. In the event of an incident, employees may not be alarmed and safe if systems are not working correctly. To keep your assets safe and properly maintain your fire and security solutions, make the most of Sovereign Fire and Security’s team of experts, who take on service regardless of supplier and installer. Find out more about our maintenance services here.

Get Started with Sovereign Fire and Security

If you are looking for a better way to protect your assets, from high value commercial goods to personal belongings at home, get in touch with Sovereign Fire and Security. With over 25 years’ experience in providing effective solutions for all sectors, from residences to blue-chip companies, we are trusted and accredited providers in the South West. We specialise in tailoring solutions to your requirements, so you can trust in your security solutions to keep your assets safe.

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