Asset Management Software

Where to Buy and what to expect

Asset management is a broad term for a variety of products. This includes procurement along with their use as well as their dispersal (which may include disposal, sale or other).

When to purchase asset management software

Many people purchase assets then (sometimes long after asset purchases) they decide to get asset management software. Obviously, if you have been in business for a long time this is the only option that you have. However, the ideal process is to have your asset management system or software in place first and use it to help you make the smartest acquisitions. The same goes for a company undergoing restructuring or other changes get the right software in place first then use it to help you make management decisions.

What to expect from your asset management software

Asset management software should do a number of important things including:

  • Inventory asset use and track its optimization. How many hours a day are you using a particular piece of equipment? Is this cost effective?
  • Track and facilitate asset maintenance. When is the last time your machines were serviced? Are you losing money because of machine breakdown?
  • Keep track of where your assets are. Is it serving its purpose best there?
  • Compare algorithms of asset use. Would it be cheaper to rent lease or buy? A good asset management system or software suite will tell you which option is best faster than youll be able to on your own.
  • It will minimize human error in inventorying your assets. Ever priced a project and made a miscalculation? That can cost you in the end.

Asset management software can reduce the demand for new acquisitions and thus save you money.

Before you purchase asset management software, you'll need to calculate on your won whether its a good asset purchase. It may be the last time you need to do any of that kind of calculation on your own.

Asset management software is subtly different from inventory software.

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