The final paper is conceived as an analytical presentation of the issues (during) and benefits (after) of the implementation of the physical asset management system in medium and large enterprises. Based on the author's many years of experience in the maintenance department within the confectionery company Karolina d.o.o. and the entrusted position of team leader for the implementation of such a system, this paper presents the issue of laying the groundwork for the introduction of the system, implementation methods and the benefits that the system brings for the benefit of the company. The first part of the paper provides a theoretical explanation of the basic concepts mentioned in the paper: physical assets, physical asset management, and the relationship between the introduction of a physical asset management system and increasing the competitiveness of enterprises. Physical asset management is a good and effective tool for strategic enterprise management, which contributes to reducing the cost of maintaining assets, optimizing human resources and external services - and thus increasing the competitiveness of the organization. The second part describes an example of the implementation of a physical asset management system in the company Karolina d.o.o., from the decision to introduce the system, the issues during the implementation and the analysis of the first results. The paper explains the methods of implementation of the new system and presents an analyses of advantages of such a system in the daily business of the company. A detailed review is given on the analysis of multi-year data collected within the implemented system and their impact on making strategic decisions of the company with regard to the acquisition and maintenance of its own assets. The paper also presents a description of the desired physical asset management system as an algorithmic basis for the implementation of an IT application that will become a system management tool. Most of the methods used in the process of maintaining the assets of the company, analysis of the improvement of such methods within the future information system and the existing issues during the implementation of the new system are presented. This work can serve as a good basis for owners and management of medium and large companies who have decided to manage their assets following current world standards, analytically make strategic decisions, which directly contribute to increasing their competitiveness.