Asset Life is Enhanced
When any asset is purchased, it is done with an intent of generating income on a long term basis. Assets managers are aware of the significance of keeping the assets in a running condition.
When the asset managers have the clear picture of the assets like how many assets are working, how many need a maintenance etc, then they can be strategized accordingly.
This assessment helps to understand where and how the costs have to be distributed. This also saves money, time and extends the life of the asset.