When you’re looking for an easy-to-use asset management system, it can feel daunting. There’s a lot of information to address to ensure you’re going with the best UK asset management system.
Asset management is essential for businesses. Physical assets, from IT assets to tools and equipment, are crucial in helping with day-to-day processes. Asset management helps you view the value of your assets in monetary, usage, and effectivity terms.
So, we’ve created a quick guide to help you know what to look for to get the most out of your UK asset management software.
What is Asset Management?
Asset management forms an essential time saving and cost-cutting method to optimise the assets which help run a business. With asset management, you can:
- View what you own
- See where assets are
- See who is using assets
- See the condition of assets
- Use the above data to save time
- Use the above data to save money
The concept of asset management has been around for millennia. The picture below shows one of the earliest examples of what we might call a fixed asset register. It depicts an inventory list used by Ancient Egyptian staff to monitor their assets:
Tableau d’inventaire d’un temple de la 5e dynastie,
© 2009 Musée du Louvre / Georges Poncet
So, there always has been and always will be a need for asset management.
Types of Asset Management
There are many different types of asset management. The type you opt for will depend on your business, your business’ needs, and the assets you’re tracking.
To name a few, there is:
- Fixed Asset Management: Fixed asset management is the monitoring and tracking of your fixed assets. This assists with asset lifecycle management and making sure your assets are working to the best of their abilities.
- IT Asset Management: IT asset management is the tracking of IT assets, such as laptops, phones, USBs, etc. This can help with compliance, as it helps you ensure that your company is GDPR compliant.
- Equipment Maintenance Tracking: You can use UK asset management software to track maintenance. From PAT test tracking to reactive maintenance management, asset tracking helps you minimise asset downtime.
- Software Asset Management: Software asset management is under the umbrella of “IT asset management”, and it’s how you track software subscriptions, who has access to which software, etc.
Why you Need UK Asset Management Software
The benefits of UK asset management software are clear. Through the use of streamlined and effective systems, you’ll be able to gain more visibility and control over your assets.
This level of control makes how your assets are behaving a lot clearer. With this information, you’ll be able to make better-informed business decisions, such as when to replace assets and when to acquire more.
You’ll also be able to speed up your processes with asset tags. Not only does this make editing asset information incredibly fast, but it also automates location tracking.
Automating your Asset Tracking Processes
The idea behind UK asset management software is automation. Spreadsheets aren’t automated and require an incredible amount of human interaction to keep up-to-date.
Initially, asset management software was created to supersede the spreadsheet and make it easier for users to control their assets and optimise asset usage.
As IoT, IIoT, and Digital Twin developments increase, asset management software is becoming something entirely new. This allows new ground to be broken in UK asset management, as AI-driven developments and automation are allowing for even more ease-of-use and control over assets on a user-end.
To find out more about how itemit can help you control your assets, you can contact us at team@itemit.com or over the phone on 01223 421611. Why not book a demo with us, so you get a customised, first-hand view of how itemit can help you save time and money?
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