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Why is ISO 55001 Asset Management System Important for You?

Assets are an inherent part of a business. They help you to operate smoothly and achieve your objectives or goals. However, if they are not managed well, they can delay your operations, drain resources, and lead to higher costs. Therefore, managing assets effectively is essential for businesses that seek success and want a competitive advantage. The ISO 55001 Asset Management Standard can help you do that.

ISO 55001 is the standard that defines best practices for organizations to handle their assets throughout their lifecycle effectively. The standard helps you develop an Asset Management System with which you can control assets, optimize their performance, reduce risks, and get higher returns.

Related | ISO 55001:2014 Asset Management — Management Systems — Requirements

Here are the exact reasons why your business needs the ISO 55001 Asset Management System:

  • Systematic management of an asset’s lifecycle.
  • Ensure your assets fulfill the functions that they are intended to and maximize your returns.
  • Reduce operating costs by continually improving asset management and eliminating risks.
  • Develop viable cash flows by optimizing the performance of assets.

Some further reasons why you need the ISO 55001 Asset Management System:

  • Manage the risks associated with the ownership of assets.
  • Enhance the organization’s resilience and brand reputation.
  • Strengthen the relationship with stakeholders by managing the assets they invested in.
  • Support the growth and improvement of your business.


The potential benefits of the ISO 55001 Asset Management System justify why your business could have it. It helps your business in many ways, from gaining the confidence of stakeholders to increasing resilience and assuring higher profitability. It ensures good asset governance while minimizing risks and increasing your returns on investments.

To implement the ISO 55001 Asset Management System in your organization, you need a TUV Austria Bureau of Inspection and Certification team who can help you understand its requirements and develop an Asset Management System that complies with you.