3 Vital Questions to Ask When Considering Asset Management Applications

There are a number of asset management applications your team could use. You could choose from free software to solutions you could pay thousands of dollars to implement. Finding an application that works well for your company can be challenging.

In order to ensure your team picks the best software for the job, here are some questions you should ask before deciding on a solution.

Why Should We Consider Asset Management Applications?

Do you need to track dozens of fleet vehicles in your construction company to make sure the assets you invest in continue working and supporting your team? Does your team rely heavily on intangible assets like software licenses and customer data to keep your business running smoothly? Take some time to identify why your company needs an asset management solution.

There are a number of reasons why tracking your assets can benefit your business. Whether you're looking to streamline your workflow process, save money on asset investments, or organize your assets to make them easier to locate, there are many ways in which asset management software can benefit your team.

How Will Our Team Interact With the Software?

Does your team spend a lot of time on the field, or out on the inventory floor? How often do your employees interact with your assets? If you find that many of your workers are spending time on job sites out of the office, you'll need to consider asset management applications that work in the cloud.

Cloud-based software makes it easy for any of your team members to access your asset database from any location. Whether they're out on a job and need to update the system, or out on the floor and need to find an item in a hurry, they'll need to use your company's application wherever their work takes them.

What Sorts of Assets Will Your Team Track?

Do you have hundreds of items of inventory that move through your business on a daily basis? Do you have a lot of moving parts that make up larger machines that your workers use regularly? Or are most of your assets intangible? Non-physical assets include things like patents, copyrights, company branding, employee skills, licenses, and processes. The majority of businesses rely on intangible assets to bring in a profit.

Identify the kinds of assets your company needs to manage. Make sure the asset management application your team decides to go with is equipped to track those types of assets.

Once you have a clear idea of the type of asset management software you need, it's time to shop around. While you can definitely check out other solutions, it's worth noting Asset Panda is a fully-customizable asset tracking application that you can set up to track the type of assets your company uses in a way that best suits the way you work.

One of our clients uses Asset Panda to track maintenance and repair records for the elevators they maintain for their clients. Our platform helps this client achieve transparency and ensures that only the elevators that belong to specific buildings show up in the proper place. This prevents records from getting mixed up and assigned to the wrong client and allows them to keep all of the elevators in proper working condition.

Want to see how Asset Panda can meet your asset tracking needs? Take a free guided tour today!


Bree Brouwer

Bree has held plenty of media- and marketing-related jobs over the years now, like working as a PR and marketing assistant to a Hollywood screenwriting coach, and writing content for three different digital marketing agencies.

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