Green Trends Reinforce Importance of Asset Management for Business

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Despite the still parlous state of the world and the UK economy in particular, the pressure on business to be “seen to be greener” will continue to grow.Climate change policies and carbon taxes will inevitably become more significant mechanisms to raise revenues and be seen to be addressing global warming.  Part of that trend will be an increasing emphasis on enforcing regulations governing the collection, treatment and recycling of all sorts of waste, especially electrical and electronic equipment as specified by the WEEE directive.

Despite (or maybe because of) the recession, companies need to forge ahead with energy-saving measures and invest in the latest inventory management software, not least because of imminent UK mandatory carbon reduction commitments, and still have to prove their green credentials to consumers and clients who are increasingly demanding that  environmental  component of virtually every product or service.

Doing all this will create a significant cost for business, unless they get their fixed asset register in order.The days have gone when a simple aspirational statement about green strategies from procurement and recycling would suffice.Organisations now have to show their commitment to green issues through information transparency and fully auditable policies.At the core of this approach has to be detailed information about the life cycle of all their fixed assets, from country of origin and maintenance schedules to final disposal details.

That requires an investment in fixed asset software to replace antiquated spreadsheet models in an attempt to accurately identify the location of equipment, especially that relevant to WEEE regulations, confirm when those items were purchased, from whom they were purchased, and how or where they were disposed of at the end of their lives.By using a comprehensive asset accounting software package that links the asset register to a document management system, companies can create the required audit trail so that they can adapt effectively to the demands of the green economy.