Investing in an apt asset management solution or system can be the fertile decision of a business or company to get rid of excel spreadsheets, stationary and other manual practices when it comes to keeping a proper track of business assets not only to maximize productivity but to reduce downtime as well. There are several time-saving and cost-effective asset management software and systems available these days that can aid facility managers to get their jobs done more effectively than ever to enhance the overall operational efficiency of the business and it is all because of latest technological developments.
No matter how accurate and sprightly your current asset management system operates, it can be improved by using the latest tech tools and solutions to get better outcomes ultimately.
Here is how businesses can use the latest technology to improve asset management and maintenance related tasks efficiently to boost revenues and the bottom line as well.
Internet of Things
IoT (Internet of Things) is one of the latest tech trends that more and more businesses are using to modernize their asset management and maintenance tasks. By using this technology, experts place different sensors on assets and business tools to collect useful data and insights such as performance data, the current condition of the asset and status etc in real time. In results, these sensors can send data and also generate alerts for maintenance management systems to perform required maintenance or repairing jobs to prevent in-future unexpected failures. As the meaning of condition based maintenance shows that it is the maintenance approach carried out when the need arises, IoT technology can help a business to keep its assets in good operational condition by conducting maintenance tasks and jobs when needed.
CAFM Apps and Software
CAFM (computer-aided facility management) apps or systems have totally transformed the way facility managers execute their jobs and tasks not only to manage business assets but to maintain & repair them as well. By using CAFMs, they can quickly and easily access the required asset details and other information such as work orders and maintenance schedules using filters like location, asset priority and date etc without making phone calls or sending messages to concerns. Such apps and systems are highly optimized for different devices that enable facility managers and employees to use the app on different mobile devices conveniently.
Mobile and Cloud Computing
In this digital age, more and more people use their own mobile devices to perform office and workplace-related tasks based on BYOD policies introduced by organizations. In such situation, an asset management solution integrated with mobile and cloud technology can help your employees access required asset data and information easily in no time to ensure effective and faultless asset management. Mobile and cloud technology in asset management systems allow facility managers and other concerns to gain data access without facing barriers of time and location as they can use their own internet-connected devices to do so. It enables them to do more in less time even without facing problems.
QR Codes Technology
Since QR codes are a matrix barcode technology which is used widely because of their low cost, fast readability, most of CMMS program and CAFM vendors are using QR codes technology to enhance their efficiency. By using such systems and tools, facility managers could be able to access necessary information and details by scanning a specific QR Code designed for each asset. It will help them streamline asset management and maintenance operations greatly to boost ROI rate. Once a particular QR code attached to a business asset, facility managers and technicians can scan the code with a smartphone or any other mobile device to get required details at fingertips.
Enhanced Life of Assets
When a company or business uses computerized facility management solutions to keep track of assets, facility manages can capture and report on vital asset data to execute best-suited maintenance approach to get minor faults right on an immediate basis not only to prevent asset breakdown but to enhance asset life as well. by using in-depth insights and data analysis, facilities managers are also able to plan the most effective maintenance jobs for specific business assets and to make profitable decisions such as repairing the asset or replacing it with a new one to prevent expensive maintenance costs.
Elimination of Human Errors
Chances of mistakes are always there when a business is using excel spreadsheets or manual asset management program to keep track of its assets. However, use of an EAM system (Enterprise asset management) can help eliminate such human and paper errors to get accurate data and insights for all assets. Since one misplaced decimal point or comma can cause accounting difficulties, you can prevent such issues by investing in a right tech solution for asset management.