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11 Essential Features for Asset Management Software

Asset Management Software-2

From computers and printers to trucks and machinery, your operation could have a lot of capital assets to be tracked across different departments and by different teams. The manual processes and spreadsheets of the past have been replaced today with asset management software, but not all asset management platforms are made equal.

So how do you select the right software for your business? Start by getting to know some of the essential features to look out for when vetting potential asset management platforms.

1. Mobile capabilities

Mobility is crucial for field technicians and other employees or contractors. For example, a dedicated app could allow job notifications in addition to online and offline access, so personnel can update jobs and asset details on the go, receive job notifications, and retrieve real-time information.

Smart Asset’s mobile app provides true mobility for your team in a number of ways.

2. Cloud or server-based deployment

Depending on your organisation, either cloud deployment or on-premise (server-based) deployment might be the best option. Cloud-based solutions allow you to manage your assets without investing in and maintaining a server, and you can receive updates quickly. On the other hand, on-premise deployment could give you the type control over your data you want. Verify the asset management solution supports your chosen option.

3. Usability and intuitive design

A user-friendly asset management solution could save you in terms of adoption time and training needs for staff. Look for features like intuitive dashboard design, asset map view, asset list view, and job request and detail view. These features support visibility, allowing your team to get the details they need at a glance.

Smart Asset Browser offers an intuitive, attractive dashboard to support your asset management activities. Find out more with a free trial today.

4. Maintenance planning

A full-featured asset management platform will have comprehensive maintenance management tools. These could include maintenance planning, access for in-house techs as well as third-parties (eg contractors), task assignment, and options for multiple users to update maintenance job status and asset condition.

5. Full lifecycle management

Full lifecycle management enables you to get the most out of your assets at every stage, and it supports additional priorities like depreciation, tax, compliance, and smarter procurement decisions. Your asset management platform should have tools enabling tracking throughout deployment, operation, maintenance, upgrading, and disposal.

6. Optional training and support

While an asset management tool helps your organisation go a long way in optimising ownership and usage of assets, training and support sets you up to fully leverage the asset management software. This could include optional consulting-style support for best-practice, strategic asset management.

Smart Asset offers optional consulting to help your employees understand asset management best practice.

7. In-depth reporting

In-depth reporting gives you the insights you need to make informed decisions about everything from maintenance and usage to procurement and disposal. Also consider whether you’ll need your asset management platform to integrate with your other platforms like accounting or Office products.

Smart Asset features powerful reporting tools as well as a level of integration with Office products.

8. Streamlined data migration

Data migration can be complicated, involved, and challenging. When selecting an asset management provider, ask about their expertise in helping customers transfer legacy data. The best providers will have the right tools and know-how to assist with a streamlined data migration process.

9. Full-featured asset tracking

Asset tracking is a critical component of asset management, so your chosen software should offer solid asset tracking functionalities. For example it should facilitate auditing (verifying assets), support asset tag usage, and offer easy check-in and check-outs.

10. Sensors and IoT

An asset management platform that supports integration of sensors and IoT (Internet of Things) allows you to automate data collection and tracking as much as possible. With IoT technology, the sensors on your assets can send valuable information to your asset management platform without needing much if any manual input. You can capture data like location and equipment failures without having a field technician check the asset. This can save you a considerable amount of time wasted on locating assets, and it can allow you to perform more effective maintenance.

11. Integrations and add-ons

When selecting an asset management software, consider whether it can be integrated with popular tools like Microsoft Office. Add-ins for tools like Excel, Outlook, and Project can encourage rapid adoption as your team might be already familiar with these tools. It can enhance reporting because importing data might be just a matter of a few clicks. It could also support better reporting, data access, and enhanced accessibility.

Best in class asset management software helps you leverage your assets

Your assets are critical to your organisation’s operations, business performance, and strategic vision. From deployment and operating to maintaining and upgrading, managing your assets involves a high level of complexity, and choosing the best asset management solution as your partner allows you to manage one of your organisation’s key investments: your assets.

Smart Asset is an industry leading best in class asset management platform providing outstanding mobility, deployment, and security features. To find out more about what Smart Asset can do for your organisation,

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