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TYASuite Software Solutions has been leading the change amongst cloud ERP software, making ERP affordable, scalable and... Read More About TYASuite Asset Management Software
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Techjockey Asset Management System is an excellent web-based tool to enlist, manage, track, and delist your office asse... Read More About Techjockey Asset Management Software
Last Updated on : 22 Jan, 2022
Asset management software is a solution designed to record, track and manage all the assets of an organization. It records all details of an asset in every stage of its lifecycle, from procurement and maintenance to disposal. It integrates all the asset management functions to improve efficiency.
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Found our list of Asset Management Software helpful? We’re here to help you make the right choice and automate your business processes. Let’s discover some of the essential factors that you must consider to make a smarter decision!
Asset management software is a business solution designed to record, track and manage all the assets of an organization. It records all details of an asset in every stage of its lifecycle, from procurement and maintenance to disposal.
An asset management system is crucial for an organization as it helps record, control, and regulate all the assets and document the vital information regarding them. It also tracks components, records maintenance logs, allocations, depreciation reports, compliance reports, and more.
Asset management software integrates all the asset management functions like recording details, categorizing, allocating, and tracking all tangible and intangible assets. It also helps standardize processes, improve operational efficiency and reduce costs of organizations that manage a large number of fixed and current assets.
If the asset is related to IT, for example, if it's hardware or software, it would be considered an IT asset, and the software used to manage them is called IT asset management software. Choosing the best hardware asset management software and the best is essential for all IT companies.
IT asset management software is a dedicated asset management software that goes beyond just recording and tracking fixed assets. It integrates all financial, contractual, and risk management aspects of software, hardware, systems, fixed assets, and other intangible assets. It provides knowledge on every IT asset's efficiency, usability, ROI, etc., to asset managers, helping them make tactical and strategical decisions related to assets.
Major Users: IT Companies, Service Providers, Law/CA firms, etc.
This type of software tracks and manages all the fixed assets in an organization. Everything, including accounting, maintenance, and deterrence, is managed with fixed asset management software.
Fixed asset management software manages all the tangible assets of a company throughout its life cycle. It records every financial transaction related to the asset, allocation of assets, authority, maintenance logs, etc. It helps managers plan the asset's replacement in advance, monitor its actual usage against planned usage. The software performs return on investment analysis of assets purchased by the company.
Major Users: Manufacturing Companies, Small Businesses, Nursing Homes, etc.
Digital asset management software stores and organizes all the digital assets in one location. You can find everything, including pictures, videos, and other media at a single platform.
Digital asset management system tracks all the assets across all different geographical locations in real-time. It also allows to include pictures, videos, and other media with the assets. Digital asset management systems are growing trends and are extremely important for logistics companies, the transport industry, etc
Major users: Universities, Colleges, Media Houses, Logistics Industry, Real Estate Companies
Enterprise asset management software covers all aspects of asset management like accounting, maintenance, repair, replacement, etc. It is widely used across most corporates as it can manage all types of assets. The software tracks and records information related to assets and enables users to analyse performance, conduct regular maintenance, and increase efficiency.
Major Users: Financial Institutions, Large Corporates, Coaching Institutes, Hospitals, etc.
Reliable asset recovery
If an asset is lost in the sea of other assets, it becomes difficult to trace that out. Both manpower and time are lost in this process, and several delays are caused. You can avoid all this by simply using the best asset management software in India. It has a GPS location tracking tool's feature that helps trace every asset present in the organization.
Real-time customer service
Customers often ask for the location of their assets, that too in real-time. This software lets you keep a tab on the assets at all times. You can give details about the resources or assets with their efficacy to the customers as well.
An asset's lifecycle can be calculated with asset management software, which in turn increases productivity. Assets are firstly tagged with RFID tags, then they can be tracked automatically in different stages, and dedicated resources are not required to keep an eye on the assets 24x7. In this way, employees can focus on other essential tasks.
Avoid unnecessary maintenance costs
Effective repair or replacement can be planned with asset management software. Since you already have all the information, from start to end, from its buying date to all the records about its maintenance, it becomes easy to avoid additional maintenance costs. Unproductive assets can be taken care of in their earlier stages. Monitor, replace, or repair your assets on time before it's too late.
Track asset maintenance needs
You can track which assets need maintenance and when. With asset management software, it is easier to calculate the cost as well. You can set alerts for maintenance and renewal as and when needed. The inventory software can also be integrated with ticketing software which makes the whole process a lot simpler.
Set thresholds for stock renewal
Asset auditing can also be performed with the help of asset management software. Identifying ghost assets in an organization becomes essential when they increase in numbers. They cause additional maintenance, which is not required. Similarly, if an asset is about to complete its lifecycle, it can be stocked back again. You can even reduce the compliance risks with this software.
Accurate asset related data
Using asset management software assures that the business has accurate data related to all the assets present. Tracking and auditing at different intervals would enable companies to maintain accuracy. Accuracy is also maintained as everyone in the company can keep an eye on the real-time data about the compliance, audits, and assets on the asset management software.
Asset tracking software is an application used to track as well as record assets throughout their lifecycle. This includes processes from their procurement to their disposal. It provides information such as the asset’s location, who all are using it, how efficient it is and other such details. You can manage both hardware as well as software assets with asset lifecycle management software.
Author: Kalpana Arya
Fixed Asset Management Software| Investment Management Software| Loan Management Software| Retail ERP Software| Retail Billing Software| Mobile Device Management (MDM) Software| GPS Vehicle Tracking System| Email Security Software| Transport Management Software| Workforce Management Software|
Q1 - WHAT is IT asset management software?
IT asset management software is an application used to track everything about IT asset, from start to end. Its entire lifecycle is recorded in the Asset tracking software. An IT asset management software can manage both hardware and software resources.
Q2 - What is the best asset management software?
Given below is the list of best asset management software:
Asset management software demo is also available if you choose techjockey.com to buy your software.
Q3 - What are different types of assets?
Assets can be categorized into two types based on the management point of view
Fixed Assets: It is an asset which can be seen and touched like equipment, property, furniture, computer hardware, peripherals, etc.
Digital Assets: Digital assets are intangible asset which cannot be seen or touched but hold some value for any organizations like software's, subscriptions, licenses, data, information, know how, digital documents, images, audio, video, etc.
Q4 - What is the best IT asset management software free?
The following are the best-fixed asset management software open source:
It is advisable to use an advanced level asset management software rather than free fixed asset management software. You can find the best ones on techjockey.com
What is the best asset management software for small businesses?
Asset management software for small businesses must be easy to use, affordable and reliable. Although the best asset management software depends on the needs and preferences of the organization, here are some of the most popular AMS for small businesses:
What is the best asset management system for the hospital?
Hospitals need asset management systems to manage diagnosis equipment's, beds, lab machines, and other health equipment's. Here are some of the best asset management software for hospitals:
What is the best asset management software for schools?
The education industry needs the best asset management system to provide quality education and maintain compliance with legal bodies like CBSE. Some of the best asset management software considered for schools/ colleges and coaching institutes are Infor Enterprise Asset Management and AssetMint.
What is the best asset management software for a manufacturing company?
Here are some widely used asset management software for manufacturing companies:
What Role Does IT Asset Management Play in IT Operations?
IT asset management is an important aspect of IT operations because companies need to track their software and hardware assets. Asset tracking helps prevent unplanned outages or non-compliance-related expenses.
How Can IT Asset Management Improve Company's Performance?
Proper IT asset management improves company performance by helping IT professionals avoid unprecedented downtime, suboptimal deployment. The software also helps avoid unnecessary expenses associated with compliance infractions. Additionally, the process ensures that companies have proper budget predictions for replacing, renewing, adding, or disposing of a technological asset.