Asset management software, or asset management tools, are changing the way in which we do business. In an economy where you must account for every dollar – if not for the tax man, then for the company’s bottom line, it’s essential to have a system that can manage the process simply and efficiently. This is where asset management software comes in. It can help you run your business more effectively and with more scrutiny than ever before.
What is asset management software?
Asset management software is a type of software that can be customized to any business, and any business model. It records, tracks and follows assets – both hardware and software – from obtainment through to disposal or end of life. It can track where that asset is, who is using it, how it’s being utilized and what information is available on that asset. It’s the right-hand man of any manager looking to keep his or her finger on the pulse of their business.
However, that’s not all asset management software can do for your business, although it probably already seems like it’s going to suit your company well. Asset management software can also streamline procurement processes, measure vendor performance, optimize your supplier portfolio, manage vendor audits and policy compliance, and even optimize the costs for licensing. In essence, it’s a form of software that’s dedicated to providing you with a streamlined asset inventory to better utilize what you’ve got on-site.
How can asset management software benefit your business?
As your company grows, your inventory of assets grows with it. Unfortunately, many businesses fail to develop or invest in a system that helps the expansion process run smoothly, and with less chaos. Approximately 30 percent of organizations are labeled as being in a “chaotic” state – meaning they don’t know what they own, who is using it, and where within the company it is located. Getting into this state is easy – you fail to take note of where your assets are heading, and you take your finger off the pulse. However, getting out of it is much harder without asset management software.
By getting in touch with an expert software provider to organize custom asset management software, you are doing a complete 360 turn on how your business operates.
- Upload receipts, documents, manuals, and warranties with each asset to ensure everything is in the one place.
- Find all your software and hardware maintenance information with ease.
- Know where your asset is, who is using it, and which department it’s in.
- Have an exact price tag value on all assets for insurance purposes. There is no guesswork, and you may just benefit from lower premiums as a result.
- Create detailed reports that could take humans many hours, with just the click of a button.
- Understand the total value of your assets for regulatory compliance.
What’s more, asset management software can add an entirely automatic approach to what was traditionally a manual process. Therefore, not only do you save money when it comes to organization but on productivity as well. If your staff, and yourself, can use a more streamlined process for audits, reports, and analysis, the data is not only going to be gathered in a timelier manner, but it’s going to be more exact, as well. More facts, less guesswork.
If there’s one piece of software every medium to large company, organization or firm needs, it’s asset management software. Take back control of your business, know its value, and benefit from increased productivity, savings, and the knowledge that a quality program is taking care of all the hard work.