March 30, 2021
The Value of Facilities Asset Management Software
Why consider facilities asset management software? Facilities managers have a big job on their hands – especially when they’re responsible for multiple real estate properties. That’s why facilities asset management software can be an invaluable resource for these professionals. The role of a facilities manager includes the maintenance and operation of fixed assets and equipment both inside the building and on/around the property. At any time, they must be able to account for the equipment and fixed assets under their purview. The upkeep of those assets will have a direct effect on their ultimate lifespans and the company’s bottom line, as repair costs can be steep, particularly for equipment that has been poorly maintained and now requires more extensive intervention. Manual tracking methods are a surefire path to human error, overlooked maintenance and updates, theft and loss, and even ghost assets.
Facilities asset management software: the benefits
Facilities asset management software removes the human element, so to speak, and introduces automation and accuracy to facilities management. The software streamlines the process of conducting routine audits, so facilities managers always know exactly what they have, what condition those fixed assets are in, and where they should be located. The entire lifecycle of each piece of equipment lives in a single system, so facilities managers no longer have to hunt for paperwork and other equipment or fixed asset records. Facilities managers also may wish to conduct facilities condition audits from time to time, which take more of a 20,000-foot-view of all of the equipment and systems in the building portfolio. “The outcome of the audit will help managers identify future needs, schedule upcoming projects, and prioritize the projects using the data accumulated during the audit,” says David Lewek in an article for FacilityExecutive.com (“Preventive Maintenance, Proactive Facility Management”; March 3, 2016). Lewek adds that these audits also help facilities managers create long- and short-term budget based on the future needs they’ve identified from the exercise.
In fact, some facilities asset management software products are so streamlined that facilities managers need only the smartphones they already carry to access their equipment and fixed asset-related data – for example, warranties, lease/purchase information, depreciation, check-in/check-out information, maintenance histories, and much more. Depending on the product they use, facilities managers may be able to scan and enter new equipment into the database, add supporting documents, photos and videos, and arrange the information any way they want -- all with their smartphones.
By more carefully tracking their equipment and having access to real-time data around the clock, facilities managers are more likely to catch operational issues before they turn into bigger problems. Perhaps a piece of equipment isn’t performing optimally and is wasting energy. With the right system, facilities managers can build a series of routine checkpoints to ensure that they’re keeping their environmental impact as minimal as possible.
A worthwhile investment
Equipment that isn’t running on all cylinders and isn’t checked regularly can graduate from a bump in the road to an expensive showstopper. A minor repair may require employees to take a pause in their workday, while a piece of equipment that completely breaks down could effectively shut down productivity for a day or more. It’s also worth noting that equipment that hasn’t been properly and routinely inspected could leave the organization vulnerable to either a safety risk, a security breach, or both. Facilities asset management software enables facilities managers to set up custom reminders and alerts so they never miss important inspections and keep equipment in good working order. The software may also help them ensure that they’re following disability regulations and addressing any shortcomings that could cost them later.
Asset Panda’s facilities asset management software is powered through a mobile app that includes a barcode scanner and requires no additional hardware or software to use. Completely customizable and easy to use, Asset Panda is the technology of choice for facilities managers.