Fiscal and Physical Visibility

This post follows up on 3 previous articles: The Best Capital Playbook Ever! (published by About.com)
- Capital Programs and the Cost of Doing Business (published by Asset Management for Healthcare)
- Asset Management and Equity (published by Asset Management for Healthcare).

The Best Capital Playbook Ever! pokes fun at what seems like a norm in hospital capital programs.  The process tends to result in creating problems rather than solutions:  excess equipment, poor utilization, and inconsistent reporting. 

Capital Programs and the Cost of Doing Business, takes a look at the philosophical reasons these occur.   I believe leadership often sees asset management functions as expense centers instead of centers that increase equity.

Asset Management and Equity gives an example of a project guided by an asset manager which decreased expenses and increased revenue. The project included every phase of the asset life cycle: acquire, maintain, utilize, and dispose.  I left off with a Key Performance Indicator for capital programs.

E-ISG, an Asset Management application providers, is hosting a webinar on November 14, 2012, 12:00 Eastern Time.  The webinar will outline how to build fiscal and physical visibility with assets management programs.  Fiscal and Physical Visibility - clear and continuous snapshots of key and strategic indicators for capital programs.

One of the challenges covered is the various places in which the corporate data resides.   Applications may abound.  These applications are sold to the customer as solutions but seem to never really make it to the point of helping to solve problems.  I have seen situations where every time leadership changes the application changes.  By the time the data starts to take shape, the executive and the application are on the way out, another $500K -$1M gone - which may explain why many just rely on consultants to provide data without addressing their data problems.  The answer is to work on key data needed to meet the strategic and operational objeatives both physically and financially.  Then, for assets, move to one EAM platform.