Asset provides the ability for full cycle Asset Management. The cycle starts
with identifying an Asset (anything of value to the Business) and ends with the
Asset Disposal. The value of the application is ability to track the usage of
the Asset during its life with the Organization. This Assignment of the Asset
may be through an Agreement such as a Lease or a simple allocation of an Asset
say, a Computer to an Employee. An Asset maybe assigned for any time period.
Agreement may also be based on a Fee Structure, which can be modified over time.
Historical Fees are not affected by changes to the Fee Structure.
A single point of reference for
all assets. An asset can be anything of value to an organization; for example
Office Space, Computer equipment, Furniture, Buildings, Art Objects, plants,
shrubs, ceremonial routes, etc.
An Asset can be part of one or
many hierarchical structures. Search can be from any point in the hierarchy.
One definition of a Business
Party be it an Organization or an individual. Eliminate the need to join or
search multiple tables based on the role of the business party. You still have
the specific role based “lists” for the single purpose application uses.
A Business Party through an
Agreement, which may be formal such as a lease, can utilize an Asset or informal
as in equipment allocated to an employee.
An Asset or a Business Party can
have name changes over time. Multiple Names are also possible for say, Acronyms,
Trade Names, etc. One Name must however, be designated as Primary and Active.
Would it not be ideal to find the Asset or Business Party with any of the known
names instead of the most current?
A Business Party can have
multiple usages for an address such as Head Office, Shipping, Receiving,
Laboratory, etc. Why not search for the address and find out the usage instead
of having to know the combination? You also get in the added benefit of ISO-3166
Country definitions and codes. Do you remember the most recent country name
An Address may be the location
for more than one Asset or Business Party. This again eliminates data
duplication and reduces the effort in data entry. An Address can be defined also
as a room within a building.
A Business Party can have
multiple methods of electronic contact such as telephone, both land and
wireless, a fax and e-mail and whatever else that may come along.
How many times has it occurred
that a new attribute needs to be captured for an Asset Class? With KnowTech®
Asset, you no longer need to worry about unforeseen data elements; just define
the attribute of interest and it is available immediately, with built-in history
Clients where Design implemented
q National Capital Commission
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