Key Features an Asset Management System Should Have

CIO Review Europe | Friday, March 19, 2021

An efficient asset management system provides enterprises more control over their business assets and business' workflows.

FREMONT, CA: Keeping track of the enterprise assets is an important task that can save firms money and time. Asset management is the method of maximizing the firm's assets to offer the best returns to stakeholders. More often than not, it involves asset recovery too. Enterprises have an extensive range of assets that comprise fixed and liquid assets. A business needs to handle its assets and leverage them to get the maximum possible returns. Below are the top asset management features to look for.

Asset Tagging

One of the core purposes of asset management is to know where the assets are. This is attained by tagging the assets. Various asset management systems enable enterprises to use different types of tags. Asset tags allow firms to scan and immediately see the asset's digital record. If the organization has stuck a QR code asset tag onto an asset, it needs only scan the tag using item its built-in QR/barcode scanner to view and start editing the asset's data. The asset's location and the user who scanned the tag will also update, specifically where the assets have been. This allows mapping out historic asset movement and used for better, more specific future planning.

Categorizing Assets

The potential to group and categorize assets is vital in any asset management system. For example, if firms want to track their IT assets separately to the fixed assets, the categorizing feature allows firms to do this easily. It allows simply categorizing the assets for seamless management and reporting. Also, if firms have a large office, a crucial feature the asset management system should have is an assignee feature. It offers a quick and intuitive method to assign equipment to staff members. That way, firms will always know who has what.

Maintenance Reminders

When it comes to equipment tracking, maintenance is crucial. So, setting reminders for routine or pre-emptive calibrations and maintenance means that firms will never miss a date. If a piece of equipment needs reactive maintenance, simply raise an issue using the issues management feature and handle incoming faults from the web portal. Reminders and issues management reduce asset downtime, keeping the business running efficiently than without this level of transparency.

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