Understanding an Asset Management Systemby Manya Verma Health care and lifestyle
Every organization has assets that contribute to the daily operations and play a vital role in the smooth functioning of various departments within the organization. Depending upon the management decisions, different companies use different methods to manage these assets. Some use the traditional system of tracking and maintaining assets while some realize the repercussions of inefficient tracking of assets more than others and hence, invest in efficient systems meant solely for asset management.
It has been widely observed, that companies with clear realization of real-time asset tracking system are able to save on a substantial amount of time and money that could have been lost in unexpected asset losses and manual tracking. With new technological advancements, cloud-based asset tracking is gaining popularity due to its intuitive features and ease of use. The new and advanced asset management software are built after extensive research with a sole aim of empowering organizations to manage their assets more effectively at a lesser cost and hence gain the much-needed competitive edge in this current market.
Instead of being dependent on several spreadsheets and unrealizable manual interventions, the new asset management tracking system provides real time, round the clock track of important assets and inventory for a reasonable amount of one-time investment. Traditional methods of equipment and inventory tracking were not only prone to errors but also cost inefficient due to the need for one or more employee dedicated to maintaining the records.
Asset manager software reduce the need for extra staff dedicated to inventory or asset tracking and management and hence companies can focus on hiring staff for more critical tasks without increasing the manpower unnecessarily. Due to the everyday pressure on sales and target achievement, many management decisions are not centered around the need for asset management systems. Due to the skewed priorities, the overall bottom line of the company suffers from loss of equipment, human errors, loss of time spent in manual tracking and ultimately customer dissatisfaction.
Therefore, all organization irrespective of the industry and the size of the organization must make conscious business decisions to track their inventory and vital assets. The best way to achieve this feat is through a simple yet effective asset tracking software which meets their specific needs. Not all organizations can achieve the best results with the same asset management system and hence there is a need for a customized asset tracking program or platform that helps as per the data volume and return on investment for the particular organization.
While choosing the right asset tracking management, the decision makers must look for some common features in the system.
· It must be able to able to accurately give the asset’s location, and its condition.
· It must have the built-in barcode scanner to eliminate the need for additional equipment.
· It must be able to schedule maintenance and repair of costly equipment and assets
· It must give access to multiple users
· It must be customizable
· It must ensure data accuracy
· It should have an efficient reporting and review feature
Asset Infinity is a cloud-based asset management
and tracking tool for managing all types of assets and keep a record for all
the maintenance activities and asset procession throughout the lifetime of the
Created on Jun 3rd 2019 01:37. Viewed 411 times.