Why is Asset Management Software Important?

Asset management is the future, and asset management software can help you achieve a new level of interconnectivity.

What is asset management? Asset management is the process of logging, tracking and managing your assets. Assets can include tools and equipment, IT assets such as laptops and mobile devices and fixed assets such as plant, machinery and vehicles.

Without having useful asset management software in place, you may find that your asset tracking and management systems are rudimentary. If you’re using spreadsheets, for example, your data will rapidly become out of date and inaccurate as it’s very difficult to update data in real-time.

Asset management software opens up several new opportunities when it comes to asset tracking. You’ll have more financial opportunities, more flexibility when it comes to prioritising workloads and tasks, and more time for your customers.

What Can Asset Management Software do For Me?

Asset management can help you categorise and monitor your assets. With asset management software, you’ll be able to automate a lot of these processes.

For example, if an asset needs routine maintenance, you can set a reminder against that asset. If it needs reactive maintenance, you can instantly create an issue against that unique asset.

Location tracking is crucial, especially when an asset is moving around a lot or from site to site. The use of QR code asset tags or barcodes allows you to quickly scan the tag to update the last seen location and the user who scanned it.

If you’re booking out your assets, you can use an integrated equipment booking system to streamline and simplify this process.

In short, asset management software provides you with a more effective asset management system for two distinct reasons.

Automation and Speed

First of all, the ability to automate processes means that they’re faster. Being able to generate reports that are created on the fly minimises the amount of administrative time it would use to take to mark an asset as uneconomical.

Also, with effective location tracking features, asset management software helps you retrieve assets on time, every time. You no longer need to investigate to try and ascertain asset location; it’ll be right there in your handy, simple asset management software.

Being able to automate the processes that used to be incredibly hands-on and often inaccurate means that you have more time to assess data and create strategies.

Unique Asset Tracking

The second benefit is that asset management software allows you to track assets uniquely and in bulk.

Imagine a spreadsheet of your fixed asset register. If you add three hundred assets and a few columns, tracking assets uniquely instantly becomes insurmountable.

If you have the asset in front of you and it has an asset label on it, using an asset management software means you only need to scan the tag to see all of its information. Asset management software makes the object a smart object, as opposed to just another name on a list.

This way, you’ll be able to monitor an asset’s history, and if it has had multiple attempts at maintenance, it’s a much faster and easier decision to replace it. 

Then, you’ll be able to filter reports to track assets uniquely, but also in groups. Instead of seeing your full asset register, being able to save a set of filters means you can do site to site audits with ease. 

So, if you want to audit all of the assets in “Construction Site B,” you can quickly create this report and export it.

Why is Asset Management Software Important

Why is asset management software important? Because it gives you a greater level of control, accountability, and transparency when it comes to your assets.

You don’t have to stare blankly at an endless spreadsheet anymore, with itemit, you can streamline all of your asset tracking and management processes.

To find out more about what itemit can do for you, you can contact us or fill in the form below. 

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