Every organization IT department manages assets, such as software packages, networking equipment, data center hardware, and so on. However, not every IT department follow a true asset management strategy. Despite great advancement in asset management technology in the recent years, many organizations continue to grip to their inadequate pens on paper, excel spreadsheets, and other manual practices when they track fixed assets.

So, What actually asset management is?

Tracking assets of an organization is a critical job that can save both money and time. Asset management is a process that helps to maximize the company’s assets to provide good returns to the stakeholder. An asset management system is designed to help businesses track and maintain the property and useful resources they have and compiles data on items’ physical location, value, use history and much more.

3 KEYS TO CHOOSE A PERFECT ASSET MANAGEMENT SOLUTION

If you are new to asset tracking or just unsure what to do, below is a list of several factors to consider when you are finding an asset, management solution for your business.

IDENTIFY YOUR ORGANIZATION’S GOALS

It is better to identify the goals of your organization before investing in any software- long-term goals and short-term goals.Keep in mind the requirements of the software and how impactful it can be in the coming time.

EASE OF OPERATION

Training your employees to use a new technology can be expensive and also a time – consuming process. It will be a great idea to ask for the live demo or limited trials before you purchase it.

REFERRALS

You can find the perfect asset management solution through referrals. If you know someone using the same solution, you can check the performance and find out from where they have purchased it.

BENEFITS OF ASSET MANAGEMENT SOLUTION FOR YOUR BUSINESS

GOOD ASSET LIFECYCLE MANAGEMENT

A perfect asset management system consolidates all essential information related to the assets at a single place. Each and every asset information related to utilization, asset health, impairment, depreciation, procurements along with appropriate documents are easily available at a single click.

MOBILE CAPABILITIES

A comprehensive asset management system can be used with laptops or mobile computer or on its own. Using a mobile system provides you the flexibility to update the asset data at the same time, instead of doing the transaction from one location.

COST OF OWNERSHIP

With a good asset management system, you can easily track not just expenses of procurement, but insurance, downtime, and maintenance costs also. Generally, it is difficult to estimate the cost of ownership, but with a right AMS solution, it’s quite easy to determine the costs.

BETTER ASSET PERFORMANCE

With conventional maintenance and planning, all assets are well maintained and it leads to better asset performance and life. The performance of assets improves with proactive verifications, assets tracking and predictive maintenance of assets.

However, Asset Management may sound little complicated but it’s quite simple and helpful for your business. The overall process involves gathering financial, contractual and inventory data analyzed together and manage the hardware and software over its entire life.