Asset management software is a software application that is used to track and record all asset throughout its complete life cycle. It provides the complete information of the organization information like where is your assets are located, who are using the assets, how they are using and the complete details about the asset. The asset management system is used to manage the both type of assets like software and hardware assets.
Asset Management System/software tracks each and every aspect of asset and it is useful for an organization because it provides additional functions like:
- Vendor performance measuring
- Supplier Portfolio Optimization
- Audit and policy compliance for Vendors
- licensing cost Optimization
- Procurement processes Streamlining
Major Benefits of asset management software include:
- It Maximize the value and utilization of an asset
- Provide informed decision making through cost saving efficiency
- It simplifies software license compliance
- It provides Managed services for all assets
- Track & record the supplier and vendor performance.
- Optimized allocation of assets for greater return on investment
How various types of Asset Management Software helps your organization?
- Fixed Asset Management
Every fixed asset management software designed and developed to record & manage the all fixed assets of an organization. This software helps you to eliminate chores and maintaining the cost of fixed assets. It will also help you in ensuring that all assets are properly managed. A fixed asset management software help you in determining the correct asset valuations and perfect depreciation.
Using fixed asset management system, you can get increased control over fixed assets and get an access to complete information for planning new assets. Required Information is easily available, providing you complete control of the entire organization of fixed asset.
Fixed assets of an organization affect various aspects of planning, reporting, and controlling. Many distinct, highly complicated, and time-consuming tasks will affect fixed asset management, and the small errors can have major effects. By using fixed asset management software these tasks saves the time and money which is the main aspect of any growing businesses.
- IT Asset Management
An IT asset management software will help you to simplify the cost and complexity of managing the various software assets so that you don’t have to focus more on daily operations and you can focus more on bringing the high value of your business. For example, with IT asset management system you are able to save or eliminate unnecessary money, reducing licensing costs of software, avoid the various risks and costs of non-compliance, improve the utilization of assets and streamline process easily and efficiently of your IT assets.
Benefits of Automate IT Asset Management
- It will keep your assets inventory up to date and scheduled asset discovery
- It manages both hardware and software assets.
- It Links assets to tickets, and track & records asset history and requests.
- It tracks the purchase orders.
- Maintenance Management
Maintenance management is the very effective planning and execution of tasks performed to maintain the various operation of equipment, assets, services, and facilities. A maintenance management system is a computerized solution to managing all maintenance needs of your assets and facility. It provides the complete picture of where your time and money is being spends or saved in the maintenance department, and helps in the areas where efforts should be more focused. A maintenance management software helps an organization to achieve maximum efficiency and minimize maintenance costs to stay ahead in the highly competitive marketplace.
Each and every organization need for support of suitable assets maintenance solution. By using assets maintenance management software, any company of organizations gets an advantage of a structure, insight, efficiency and security. By using right maintenance management system these activities can be planned more effectively and the results of these activities are clearer by the detailed dashboards and reports.
- Enterprise Asset Management
Enterprise asset management software enables any businesses to manage and analyze all assets. Using a complete holistic approach, it helps in optimizing the management strategies by tracking and recording the lifecycle of all assets.
Enterprise asset management system (EAMS) shares similarities with CMMS, including the various ability to work with ERP systems. Where EAM software helps you to determine and improve asset performance of assets, ERP systems are able to integrate various modules and applications within a single database. All activity of assets and financial information tracked by EAM system and easily integrated into the database provided by an ERP Software.
How to Select Your Perfect Asset Management Solution?
The best asset management software can provide better management of all kind of tangible assets and intangible assets of your organization. You have to review all of your asset management software options, shortlist the software which fits in your criteria and budget and compares it with the software.
It becomes very tough to maintain every bit of the asset when you are running a huge company. A good Asset management software is the destination to reach. Apart from the advantages mentioned above, an asset management software becomes a great helping hand when you’re dealing with tons of machines. It keeps the data of the depreciation dates and rates. You can have a perfect tool in your pocket when you can use the preventive maintenance instead of accidental repairs! The software will alarm you about the each and every bit of the machine prevention dates; that is a cost saving for a long term.
According to an IBM survey 45% of the maintenance efforts are ineffective because they were done at the wrong time. It has been a long known fact in the business that when you’re submitting an effort but the timing is wrong, then that effort will find it’s way to gutter. With the right asset management software, you can analyse the exact time to give efforts to your maintenance activity. And that’s seems clearly a smart move!
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