Features to be considered before purchasing an Asset management software

Features of asset management software :

1.Asset Lifecycle management: An effective asset lifecycle management will found in most asset management and EAM systems as a software feature that is designed to help maximize the lifecycle of an organization’s fixed assets, from acquisition and usage to disposal. Asset lifecycle management helps us to understand an asset’s total cost of ownership and inform strategic planning and decision-making. 

2.Inventory management: Inventory management software is a useful tool for warehousing operations that helps to track, manage and control inventory from a single dashboard. By doing so, one can have a glance look into the business and can view stock levels, alerted when parts and supplies are running low. By knowing how much quantity of stock is available one can order new stock and save time,  money for the organization.

3.Tracking Technologies: Assets need to be tracked effectively to manage inventory. Asset tracking comes hand in hand with inventory management. Many asset tracking software features offer barcode, RFID, and Bluetooth tracking, where the software is used in connection with scanning devices. These tracking technologies are used for warehouse operations.

4.Asset Check-in and Check-out: This feature is useful for tracking the assets in warehouses as they travel from department to department, or from site to site. For example, if a company has hundreds of computers, they need to know where they all are and who is using them.

This feature will give information about an asset that is available for use and who used it last time. If it’s not available, one can track it by checking with the software to see which employee has used it and checked out the asset last time.

5.Maintainance Management: This is one of the main features within the CMMS, To perform regular maintenance on its assets. It allows users to plan pre-work and routine inspections to avoid  costly unplanned downtime and  eventually helps us to move away from reactive maintenance and significant cost savings

6.Work Order Management: Some software features regarding work order management are linked closely to that maintenance management. Work order and maintenance management work hand in hand as the work order management centralizes work requests, providing visibility to the entire maintenance team and helps to make jobs more labor-efficient, and can greatly improve response times.

7.One Centralised System: When your business is continually growing, then it can make sense to use an asset management software solution that integrates business functions such as finance and HR.Asset management software allows one to see the overall view of all company assets and helps us to understand their impact on other businesses.

8.Asset Discovery: This feature helps in identifying all the assets within the same network. It also helps in diagnosing faults with IT equipment and avoid threats, such as malware, before they become an issue.

9.IT Help Desk Management: As the business grows faster, the busier an IT department can become. So, for employees to do their jobs effectively, they must have access to working IT equipment. An IT help desk management feature helps to centralize support requests, allowing IT technicians to prioritize issues and respond to the problems accordingly.

10.Cloud-based and Mobile-friendly: For asset management and maintenance management, having the software available in cloud and app is very important for any size of business. That Provides an advantage to the designated employees to work from remote locations to access and update essential information related to business assets and can perform their work effectively at other premises, out of hours, or on the go.