Every infrastructure houses a number of facilities. They are necessary for individuals to work comfortably. Facilities may seem insignificant compared to integral electronic equipment and software, but it plays a vital role in boosting employee morale and productivity. Regardless of the industry domain your business belongs to, an asset tracking system for facilities management enhances business prospects.

In organizations, governance efforts are focused on core business areas. While that improves throughputs, so does the effective management of facilities. Worn-out chairs, ineffective air conditioning, and cumbersome vending machines are indicators of shoddy facility asset management. Ignoring them leads to employee discomfort and can hamper productivity.

The most practical solution for managing facilities in the present day is to use an asset tracking system. It is much superior to manual tools like spreadsheet software and pen and paper. In this article, we discuss what facility assets are and why to use a dedicated solution for managing them. Let’s get started.

What are facility assets?

Facility assets are critical in supporting daily business operations. They are resources that enable individuals to visualize, plan, execute strategies, and complete projects. There are a number of facility assets that are common to most businesses, and there are also unique assets. Take, for example, a restaurant and an IT company. 

The common facility assets include lighting, plumbing, and air conditioning systems. On the other hand, a unique facility asset in a restaurant is the kitchen. Similarly, server storage rooms are a unique facility asset in an IT company. 

Now, let’s look at the advantage of using a facilities asset management software solution.

Why manage facilities with an asset tracking system?

Up-to-date asset register

An asset-tracking software solution provides a comprehensive module to account for the facility resources in your organization. When you acquire an asset, you can effortlessly enter its details into the database. And any time you decommission a facility asset, the application updates your inventory levels. As a result, you know what facility assets you possess and their whereabouts.

Fast auditing

Every few times a year, you must audit the assets in your inventory to ensure compliance. It can be an exhausting task. More so if you operate a large-scale organization. Upkeep accuracy during the audit process is critical. Any errors can lead to the levying of a penalty and other legal repercussions. An asset-tracking system transforms the audit process by integrating with barcode scanners, and NFC/RFID technology. Consequently, the application eliminates ghost assets and maintains complete precision of inventory data. 

Top-notch maintenance

Proper maintenance of facility assets prevents them from deteriorating fast. Higher longevity of facility resources avoids frequent decommissions and repurchases. That saves you a lot of money and improves returns on investment. Asset tracking systems help you effectively maintain your resources with preventative maintenance modules. You can set up the frequency of maintenance and a checklist for each procedure. It keeps your assets working at all times and prevents assets from suddenly stopping working. 

Analytics

In addition to keeping tabs on inventory, auditing, and maintenance, an asset tracking system also produces critical analytics. As you use the software to manage facility assets, the application collects data at various key points. Some of those are asset acquisition, decommissioning, allocation, and maintenance. The application collates this data and uses complex formulas to derive insightful reports pertaining to:

• Asset usage
• Asset maintenance
• Cost of owning an asset, etc

Simplify facilities asset management

Mismanagement of facility assets can rack up exorbitant expenses and affect other areas of day-to-day operations. The best way to curb costs and improve profit margins is to use a dedicated solution for asset tracking in facilities management. Get SmartAMS – the ultimate facilities asset management and maintenance system. It contains the latest features and security protocols. Learn more about it by reaching out to us today.