Our society is changing. Access to items is becoming more important than actually possessing them. We are currently in the midst of a transition to a circular and sharing economy in which we make more efficient use of everything we already have. We are now looking to share, lend/borrow and exchange anything and everything. In this light, the success of businesses will start to be characterised by the more efficient use of company assets through sharing. There are three significant advantages to asset sharing that are hard to pass up for businesses: reap major financial benefits, improve sustainable impact and enhance social impact.
FLOOW2 World’s Reset Button has been one of the pioneer companies in the world to identify the opportunities of asset-sharing among and within businesses.
The company developed the 1st international B2B sharing marketplace for companies & healthcare institutions to share overcapacity of equipment, knowledge and skills of personnel both internally and/or with other companies (locally & internationally).
How it translates to financial results is clear: companies save costs when they rent or borrow from each other rather than purchasing new equipment or personnel.
FLOOW2 enables making efficient use of what we already have – a natural aspect of the circular economy. Consequently, the value of raw materials and energy used in the materials is maximised.
By choosing to use assets from counterpart businesses, capital expenditure is lessen, as a result, a larger cash flow is available for alternative investments. Additionally, the organisations are able to generate additional income by (temporarily) renting out assets that aren’t optimally being used: “revenue from under-utilised assets”.
One of the key challenges that SMEs and corporates face when switching to a model like FLOOW2 is the mind-set change required to shift from ownership to access.
Asset sharing is the new norm within organisations, and requires a different approach than the traditional operations and procurement practices.
The management team needs to be on board and an organization has to be ready, willing, and prepared for how to embrace this new feature into their business. It will usually be the task of procurement or facility managers to advise executives to make sure that all the staff knows when in need of an asset, the first step should be looking at whether it is possible to borrow it. Most importantly, they will need to be consistent in managing the matching the supply and demand of assets, closing deals, arranging transport and taking care of billings. Then, asset sharing will become anyone’s new business.
More information: Floow2