Intangible assets

iFACTS Intangible assets - Web based management and control of Intangible assets

In all organizations there are intangible "soft" assets. These assets are often referred to as the Intellectual Capital and is said to be more than 80% of the company value. Example of companies with high degree of intangible assets are: Pfizer, Coca Cola, Google, Microsoft etc.

These intangible assets can be a wide varitey of different types, and they are important and need to be controlled. Some examples:

• Contracts
• R&D
• Competence
• Patent
• Brand
• Skill
• Customer relation

These intangible assets need to be included in the dependency map and part of Risk management and Business Continuity.

iFACTS Intangible assets provides management with a consequent reporting and monitoring of all the Intangible assets, presented as a performance score 0-100%.

Web technology helps the Intangible asset responsible with documentation and analysis. Common work steps are to document in terms of description, content, due date, age, confidentiality, dependencies, responsibilities or classification.

A web questionnaire can be used to measure to what degree the Intangible asset is following guidelines and other requirements.

Intangible asset risk assessment can be performed and followed up on.

The list below shows all the available Intangible asset management variables. These can be turned on or off depending on purpose and ambition.

Data and output

• Inventory and classification - of the Intangible asset. Information gathering such as description, due date, age, responsibilities, roles, classification, applicable law. Finalizing all steps in the inventory step gives a score of 100%.
• GAP analysis - web questionnaire to check current status. Result presented in the range 0-100%.
• Risk assessment - scenario based risk assessment. Results in a Consequence-Probability matrix with risk acceptance level. Score depending on if there is preventive actions planned for all scenarios over risk acceptance.
• Requirement fulfillment - a requirement list is generated from the settings in classification, law and risk assessment. These requirements needs to be fulfilled in order to be "green". "Yellow" means active and "red" means passed due date.
• Objectives - in the measurement portal different measure sessions are created and then continuously measured. Fulfillment of objectives displays in the range 0-100%.
• Plans fulfillment - a plan requirement list is generated from the settings in classification, law and risk assessment. The plan needs to be done in time to be "green". "Yellow" means active and "red" means passed due date.
• Dependency mapping - in the dependency component the Intangible asset is mapped for dependencies with other organizational assets and activities. A red dependency means that the requirements do not match and will result in a lower score.
• Events - from the management work in the steps above, deviations and nonconformities will emerge. These are integrated into the Event module and monitored for follow up and action such as management approval. The Event score is calculated from number of green, yellow and red events.

Implementation and roll out can be done instantly with high efficiency using web technology.

iFACTS Intangible asset functionality

Dynamic setup of organizational structure and roles in the main administration, creation of company tree and roles. Connection to active directory.

Dynamic setup of inventory content  All the steps in the Intangible asset inventory wizard are created by the administrator.

Requirement trigger   Classification, applicable law and risk assessment can trigger requirements from the requirement list.

Plan trigger   Classification, applicable law and risk assessment can trigger plans from the PPP plan list.

Calculation   supports entering a calculation for each asset for example Business Impact Analysis, BIA.

Dependency component  to establish dependency connection between organizational assets and activities. Presented in a graph with critical line and dependency information.

Integration   with Risk management, GAP, Event, Audit, Riskportfolio, INSMAN and the ONTRACK dashboard.

Event monitoring  with connection to management approval and other roles and responsibilities.

Audit  connected to the Audit module for automated audits and inspection programs.

Report generator  a wide variety of reports/settings can be created and saved as templates.  All of these reports can be exported to Excel, Word, PDF, Text

Search can be conducted according to selection on all registered data, for example, organization, type, status, category, role etc.