Asset management goals include effective decision-making, curbing costs, boosting productivity, and increasing the overall lifespan and utilization of assets. The efficient accomplishment of each objective results in business growth. Traditional tools like spreadsheet software and paper-based techniques are no longer reliable asset management solutions. An asset management system is the best tool.

The asset management system is a dedicated tool for tracking, monitoring, and controlling asset developments. It is a one-stop shop for all asset governance requirements. With just a few clicks of a button, you can make sound decisions that shape your asset management strategy. Whether your assets belong to the IT, retail, healthcare, or any other industry domain, an asset management system can handle all asset types effortlessly.

The global market for asset management systems is forecasted to grow to $5.2 billion. The reason behind the surge in market value is how the software enhances business operations. We discuss why asset management software is the best solution and how it raises your business potential. Let’s get started.

How asset management software is superior to spreadsheets

There are several compelling points that validate asset management systems as more effective than spreadsheet software. Let’s dive into them.

• Error-free – Asset management software integrates with tracking technologies such as NFC/RFID tags and barcode scanners, providing accurate asset locations and counts.

• Real-time data sync – Any update in the asset management software syncs up across every application instance, preventing duplicates and redundant data.

• Cloud-based – You can access asset management software from any device, provided it supports a browser and an internet connection.

• Secure – Asset management software requires authentication from users to access the application.

• Time-saving – The wide range of asset management modules helps save time managing assets. A few clicks of a button is sufficient to make impactful asset changes.

Accelerating business operations with asset management software

Let’s delve into how asset management software raises your business potential.

Asset allocation

Your staff members need the right assets to complete business tasks. It may be IT equipment, a vehicle, or any other. One of the importance of asset management software is its allocation module. As an administrator, you can decide who gets what asset for what duration. Operational efficiency gets a boost, and employees don’t face discrepancies over getting a hold of assets.

Proactive maintenance

Unexpected asset breakdowns can hamper the speed of business operations significantly. Many times, developing asset issues are ignored until the point of malfunctioning. Asset management software eliminates this problem by allowing you to schedule proactive maintenance. It enables your staff to perform routine asset maintenance and fix discrepancies before they become difficult to manage.

A holistic view of assets

Jumbling between various files to view asset data is a tedious task. Having critical asset information in a single location simplifies decision-making. Asset management software provides comprehensive asset information pertaining to maintenance, acquisition, depreciation, transfer log, disposal dates, and more. Accessing those modules is incredibly easy.

Accurate audits

A few times a year, businesses evaluate the net worth of assets in the organizations. It often takes a long time and can even lead to downtimes. On the contrary, asset management software helps perform swift and accurate audits using asset tracking technologies like barcode scanners, NFC, and RFID. In the process, you also learn about the health of your assets and eliminate ghost assets.

Insightful reports

Asset management software meticulously logs asset information at every stage of a resource’s lifecycle. After that, the software extrapolates historical data into comprehensive analytics. Asset utilization, cost of asset ownership, and maintenance requirements are some insights the analytics reveal.

Accelerate business productivity

Assets are crucial for carrying out daily business tasks. The more efficient and reliable they are, the better the quality of operations. Asset management helps keep assets healthy and create profitable returns. And the best tool for that is, without a doubt, an asset-tracking software solution.

SmartAMS is a cutting-edge asset management solution that is cloud-based, feature-packed, secure, and user-friendly. We offer a wide range of pricing that fits your budget and business requirements. Reach out to us to learn more.