Roger Scott and Massimo Gozzo discuss the importance of maintaining and managing a linked and reliable record of your company's physical assets.
KPMG’s experience indicates that companies regularly face difficulties in maintaining a linked and reliable physical and financial record of all their physical assets.
Achieving asset management is complicated by the variety of different teams managing asset information (eg. Finance, Operations and Engineering) each of whom play a significant role in keeping asset information current. Companies also face additional challenges as asset bases grow and company structures transform through acquisition.
A lack of quality asset data (if not addressed) can impact a company in a variety of ways:
Proficient management of physical asset data and financial information is an essential element in accurate risk mitigation and oversight of investments. Effective management of asset information is an essential success factor to enable holistic asset reporting and control.
KPMG has a multi-disciplinary team approach to help clients to develop specific improvement plans to address the root causes of the issues presented above. The KPMG team’s expertise includes tax, asset management, valuations, asset data analytics and information management and financial (process) management expertise to solve the range of challenges across the asset lifecycle that clients face.