BENEFITS OF ASSET MANAGEMENT SOFTWARE
The value of asset management software extends across various segments of the workplace, all of which lead to a healthier bottom line. These are just a few advantages the technology provides.
DECREASED ADMINISTRATIVE COSTS
Manually tracking assets can be a time-consuming process for workplace leaders and administrative professionals. Beyond that, the continuous updates of multiple spreadsheets and databases introduces the potential for human error. Asset management software allows professionals to devote time to other revenue-generating tasks while ensuring accuracy in the information gathered.
To avoid unexpected breakdowns or fines, businesses need to stay on top of scheduled maintenance and impending lease expirations. While reminders via calendar alerts or Google docs can easily fall under the radar, asset management software offers a more effective solution. Facility managers are not only notified of required maintenance and renewals, but they also gain insight into other assets that may need general servicing based on subpar performance.
While on the topic of scheduled maintenance, it could be the case that multiple expensive pieces of equipment are due for service in the same quarter. But without this knowledge ahead of time, a facilities management team will fail to effectively plan for these extra costs. Asset management software solves this issue by providing visibility into the status of assets and allowing you to budget for these factors.
REAL-TIME DATA METRICS
The same spreadsheets and siloed databases that add to an administrator’s workload can also fall behind in updates. A lack of real-time data means that facility managers can never be 100% sure about where an asset is located unless it’s in sight, and they are also limited in their understanding of an asset’s true utilization. Real-time data in asset management software ensures a comprehensive and accurate view of your asset portfolio.
TRENDS IN ASSET MANAGEMENT SOFTWARE
As convenience becomes more important in the workplace, asset management software is keeping up with the times. Mobile accessibility via apps gives facility managers the tools they need to validate asset details while on-the-move. This includes entering serial numbers, editing files, scanning barcodes and taking photos.
INTERNET OF THINGS
The Internet of Things (IoT) is no stranger to the workplace or asset management software. Take smart sensors as an example. By strategically placing these sensors on assets, businesses can acquire detailed reports about their utilization and use this information to predict future needs.
CHOOSING ASSET MANAGEMENT SOFTWARE
So which asset management software is right for you? This is a big decision for your organization.
Here are some helpful variables to consider as you weigh your options:
- Research asset management software vendors and review case studies
- Collaborate with your IT department to ensure smooth integration with existing systems
- Confirm that accessibility is available through mobile devices
- Ask about the ability to access data as a resource
- Make sure that security checks and balances are in place
- See if the vendor prioritizes training and ongoing support
HOW ASSET MANAGEMENT SOFTWARE HELPED ADOBE FORECAST FUTURE NEEDS
At Adobe, the goal is to create digital experiences that change the world. So when it came time to look for a new IWMS, they sought a smart, tech-savvy platform that mirrored their own capabilities.
In place of their incumbent and outdated facilities management software, Adobe chose iOFFICE. The combination of the software’s ease-of-use, flexibility and mobility—as well as its strong reporting functionality—made it the perfect choice for optimizing business operations.
Thanks to iOFFICE’s asset management software, the company was able to plan capital improvements and ensure effective budget decisions throughout the facility. It also gave them a way to track important assets like expensive copiers and printers in real-time.
The addition of further iOFFICE solutions helped address space limitations and streamline the update of floor plans to accommodate necessary changes. Meanwhile, service request functionality simplified work order requests and ensured proper maintenance, while reservation capabilities made booking meetings and events a simple process.
Through iOFFICE’s tools for data collection and reporting, Adobe has been able to save an abundance of time and money. The company plans to continue using these solutions to predict future space needs, keep tabs on corporate assets and monitor service-level agreements to avoid fines.