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Tuesday, April 11, 2006

Governments cut costs grow savings managing wealth

"In the search for better, cheaper, more efficient government services, some states and municipalities are turning to asset management, an IT concept that offers an enterprise view of an organization's holdings.

State and local governments are following in the footsteps of the private sector, which for years has used asset management systems to drive savings and manage large volumes of resources, both technical and nontechnical.

Without a single IT system to track a government's complete inventory of assets - from computers, servers and systems to vehicle fleets, land and buildings - the threat of overlooking and under-reporting assets is high, industry experts said.

An asset management system, linked to other state IT systems such as enterprise resource planning, lets a state administer all of its holdings governmentwide. Often, asset management is done ahead of an IT consolidation or outsourcing project, as the state and IT contractor grapple with cataloging holdings of various agencies that need to be incorporated into one system. This lets the state save tens of millions of dollars. "

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