The Best Asset Management Software is Ready for Tomorrow

By February 22, 2019Asset Tracking, Blog, Use Case

The Best Asset Management Software is Ready for TomorrowThe best asset management software for your company depends upon your unique needs. Forget a cookie cutter, one-size-fits-all approach to asset management. No two companies are the same. But keep in mind that your needs today may not be your needs tomorrow. So you want a scalable solution that’s flexible enough to incorporate new technologies as they become available, and one with features you can customize at any time. In other words, the best asset management software doesn’t just help you today; it prepares you for the future.

Trends Expected to Impact Asset Management

In June, Toronto-based software company Fiix published an article, “4 Trends Driving Digital Transformation in Asset Management,” in which writer Sarah Bellstedt discussed how “the world of maintenance and asset management is undergoing a huge and constant digital transformation,” and analyzed the trends impacting how organizations approach asset management.

IoT One of those trends, the Internet of Things (or IoT), has long been a buzzword in the media, but there’s a lot of speculation as to what it means. IoT refers to what most in the IT industry will tell you is a forthcoming reality: the connection of everyday objects – in the home, the workplace, and everywhere in between — to the Internet. In a world in which everything is connected, it will be much easier to determine, for example, when a piece of equipment is due for maintenance or coming up on its warranty expiration date.

Big data Big data, another trend Bellstedt mentions, will be that much more productive when the IoT has taken hold. Analytics should provide more meaningful insights that can help organizations better track and manage their assets.

Mobility There’s no denying the convenience that mobility, another key trend, has brought to asset management. Instead of having to wait until they return to their desks, now employees can track the entire lifecycle of their vital assets from their smartphones and tablets from the floor of the warehouse, the car, or wherever they happen to be.

AI Finally, Bellstedt names machine learning, or AI (artificial intelligence) as another trend to watch in the world of asset management. “Using AI to monitor assets and learn about them means it’s much easier to predict how much time an asset has before its performance is affected or before that asset fails. This can help maintenance teams perform preventing maintenance more effectively, addressing potential issues before they become bigger problems,” she says.

Features to Watch For

If you’re just starting your search for the best asset management software for your company, you’ll want to keep these four trends in mind, along with some additional factors, before you make your decision:

Look for ease of use. Ideally, you want every stakeholder involved in the lifecycle of your assets using your asset management software. Everyone should be in the communication loop, therefore eliminating gaps and increasing accountability across your organization. To achieve that, you’ve got to have a platform that’s intuitive and user-friendly. If your asset management software requires extensive training in order to get up to speed, the intimidation factor is likely to scare off many of your employees.

Look for streamlined. You don’t want to have to purchase additional hardware, like separate barcode scanners, in order to use your asset management system. With the above-mentioned evolution in mobility, everything you need to track and manage your assets should be as near as your phone or tablet. On the other hand, if you want to be able to access your data from your computer, you’ll want to have the convenience of a web app, as well.

Look for customizable. You should be able to track your assets any way you want, no questions asked. That means being able to display your data in a way that makes sense to your organization, selecting the features you want and making changes when you want.

Asset Panda checks the box on all of these features. Not only that, Asset Panda was built with the future in mind – powerful, prepared for IoT and flexible enough to incorporate new technologies as they become available in the future.

Try Asset Panda free for 14 days, and see what it can do for your organization. To get started, go to assetpanda.com

 

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