7 Good reasons why your company needs Enterprise Asset Management (EAM) System

7 Good reasons why your company needs Enterprise Asset Management (EAM) System

Application of Asset Management System can have many benefits to your company, including the following:

1. Good Business Practice.
Asset management results in better decisions. Aligning management of infrastructure with strategic policies and direction will support the long-term success of the utility’s mission, goals and objectives.

2. More Meaningful Financial Reporting.
An asset management approach can aide a utility in complying with company requirements.

3. Improved Regulatory Compliance.
Part of asset management involves the implementation of better O&M practices, which can significantly improve compliance.

4. Improved Reliability.
More structured day-to-day attention to system assets and their condition means […]

Control your cost by controlling your reports

Control your cost by controlling your reports

COST CONTROL

Cost control refers to management’s effort to monitor, evaluate, and trim expenditures.
Managers should influence the actions of individuals who are responsible for performing tasks, incurring costs, and generating revenues.  First managers plan the way they want people to perform, then they implement procedures to determine whether actual performance complies with these plans. Cost control is a continuous process that begins with the annual budget.

CONTROL REPORTS

Control reports are informational reports that tell management about a company’s activities. Control reports are only for internal use, and therefore management directs the accounting department to […]