How Asset Tracking Helps Facility Managers in 2013 Acquisition Plans

The Equipment Leasing and Finance Association (ELFA) recently released a report that outlines the top 10 equipment acquisition trends for 2013, including an uptick in investments during the second half of 2013 and the use of financing options, which were extended through 2013. Facilities managers can use technology tools such as asset tracking software and facility maintenance software to determine if they will follow the course of these projections

Asset tracking software can show facility managers the exact location of every piece of equipment, art and office supply inventory on hand, as well as the current condition and overall performance of each item. This includes coffee machines, computers, office chairs, water coolers and fire extinguishers. With this information, facility managers can decide if there is a need to consider acquiring new equipment. According to ELFA, seven in 10 businesses will end up identifying a need and use financing to secure additional assets this year.

Aging devices and new technological innovations are factors that will influence companies’ choices, ELFA adds. Facility managers can instruct decision makers about the condition of existing assets based on data from their facility maintenance software. These cloud-based applications show work orders that have been submitted, completed repairs and reports of regular maintenance performed. By tracking this history, facility managers can identify which equipment is nearing the end of its life and develop plans to invest in replacements.

These technology tools need not be stand-alone systems. Integrated Workplace Management Systems allow users to manage a broad scope of facility management in a single platform providing facility managers greater control.