It does not matter whether your company’s asset is small or big. It is a crucial part of your company. You have to pay enough attention to its security and safety. Keep in mind that assets can be tangible or intangible. It includes everything from property and intellectual property to IT components and inventory.
The assets have the potential to add more value to your business. So, you should check for the right way to preserve it carefully. This is where the ISO 55001 certification process comes in. Are you curious to know about ISO 55001 certification? Then, keep reading the following section.
What is ISO 55001?
ISO 55001 is the assessment management system (AMS). It helps you to manage the assets efficiently and effectively. Businesses are required to safeguard the value of their non-material and physical assets. By certifying to ISI 55001, you can lower the costs and maximize the ROI of your businesses. It also optimizes the growth throughout the company’s asset life cycle.
Almost all companies need to manage their physical and non-physical assets proactively throughout their life cycle. Regardless of what kind of assets you have, it is mandatory to protect them and maintain their value. In addition, it makes sure personnel safety and customers trust. This international standard assists to set priorities for asset management, which balances the risk and cost-efficiency.
Key steps to implement ISO 55001
Look at the below section to know the steps involved in the ISO 55001 certification process. It helps you to know much about this international standard.
- Strategic alignment to business objectives
- Asset management policy
- Strategic asset management plan
- Asset management objectives
- Asset management plans
- Implementation of the asset management plans
- Asset performance evaluations
- Asset performance improvement plans
You have to do gap analysis and formal assessment to get this certification. Doing these things will save your time and money heavily. It is easier to get the ISO 55001 certification after passing the formal assessment. This certification is valid only for three years, and thus you have to do this ISO 55001 certification process again to extend your benefits.
Benefits of the ISO 55001 certification
- It enables your company to manage the assets responsibly. Apart from protecting your variety of assets, it helps you find the major risks and implement company-wide procedures and policies for asset protection. So, you do not take much effort to protect your assets.
- Any organization can access the asset management system with a portfolio of intangible and physical assets to manage. Once you establish an asset management policy, your firm will define responsibilities, facilitate communications, and allocate enough resources. Besides, it helps manage the change in the portfolio and determine the performance for continual improvement. In other words, it assists you to implement a comprehensive management system.
- This certification helps improve your company reputation and credibility for offering excellent asset protection. It acts as a strong indication of your firm’s commitment to reliability and excellence. It also maximizes your reputation by rendering transparency to the stakeholders.