This report focuses on the key aspects of ISO 5500x and what it will mean for companies once it is implemented.
- Benchmarking: ISO 5500x will provide a global standard that will create international consensus on good asset management practice.
- Integration: ISO 5500x will work together with international accounting standards and help engage the finance and accounting community with the asset management function.
- Creating real value: ISO 5500x provides asset-intensive organisations with a robust template for generating more value out of their assets the bottom line.
- Transparency: The new standard will facilitate transparent reporting around the performance of assets, which will help establish a clear audit trail.
- Board level awareness: ISO 5500x clearly establishes the role of asset management in a company's overall strategy, which will help create awareness at board level.
- Competitive advantage: ISO 5500x-compliant companies can use their accreditation as part of their marketing and pitches for new business.