Another important asset management related issue for colleges is that of depreciation. It is extremely important that colleges are able to calculate the depreciation of their assets for their balance sheet reports and the manual methods of doing this are not as effective as they could be.
Maintenance was also a theme that flowed through the event with many finance managers lacking the visibility to effectively maintain their assets. With budgets dwindling and belts being tightened it is business critical for everyone in the education sector to make the most of the equipment they currently own. Through an effective asset management, tracking and maintenance solution colleges will be able to keep track of the assets and maintain them appropriately, prolonging their asset life cycle.
After attending the event Sam Sweetman commented, “Overall the conference was very positive, asset management including tracking & estates maintenance seemed to be the key areas of interest with colleges striving to become more cost efficient and therefore looking for solutions which would enable them to do so."
He continues, “It is safe to say that the education sector need to invest in the right solutions to provide them with the visibility they need in order to make educated decisions when it comes to replacing and monitoring their assets.???