Spending too much time and money on technological advancements will not necessarily make your business stand out from the rest. What matters is the value you are getting from all your technological investments. One important way of taking your business to the next level is by improving inventory data collection. It is also important to keep track of crucial contract statuses during the lifecycle of all your assets.

A business that captures asset data in its location enjoys improved IT asset management and hardware tracking. Such a business can also track software, hardware, and ticket history. Moreover, businesses that improve inventory data collection can even track non-IT assets. The most effective way of tracking your organization’s hardware and software inventory is by using asset management software. Discover more about the asset management software below.

What Does An Asset Management Software Do?

To understand what an asset management software does, it is important to learn more about asset management. Asset management refers to the process of tracking, maintaining, and directing business assets. It is divided into the following categories:

  • Financial asset management.
  • Public asset management.
  • Infrastructure asset management.
  • Fixed assets management.
  • Digital assets management.
  • IT asset management.
  • Enterprise asset management

Simply put, asset management software is a system that enables organizations to list, monitor, and track all business assets.

Features to Look for When Buying Asset Management Software

Asset management software should give you great peace of mind and provide cost-effective solutions. However, different software management software do not work the same. The best thing you can do is to look at the features the asset management software you want to buy offers. Below are the top elements you should look for in the asset management software you want to buy:

  • Various Apps for Android, Windows, and iOS Devices
    Using asset management software that comes with these apps makes it easy for offsite and after-hours employees to access asset information. Ask the asset management software vendor about the available applications before making the purchase.
  • Asset Audits
    Another important feature you should look for before purchasing your asset management software is the available auditing options. It is best to look for asset management software that will allow you to identify your organization’s assets and their location. Your asset management software should allow you to schedule audits. It should also provide regular updates. Choose an asset management software that has a blind audit feature if you want to limit the information the third party you are working with will see.
  • Easy to Use Check-in and Check-out Feature
    An asset management software with an easy to use check-in and check-out feature will save you time and improve accuracy. Your asset management software should also have features that will allow you to search for your assets according to various tags. Look for an asset management software that has a single transaction feature.
  • Cloud-Based Software
    Cloud-based asset management software provides convenience and saves time. You will also avoid the hassle of hosting the software on your server. Apart from that, you will not have to wait for an update when you use cloud-based asset management software.
  • Customizable Data Fields
    Although asset management software will come with pre-named data fields, you might have to change them if they do not apply to your organization. The best thing to do is to choose an asset management software, which allows you to create new data fields and change pre-named fields.
  • Multiple Quantities
    The tracking process will be easier with the help of asset management software, which will allow you to track different assets under one number.
  • Technical Support
    Even though your asset management software might be user-friendly, it would be best to choose a vendor who offers quality and timely technical support.
  • Security Features
    An asset management software with various security features will allow you to define the rights of your users to access different data categories.
  • Reporting Feature
    Look for an asset management software that offers pre-determined reports. Your asset management software should provide customized reports. You will avoid the hassle of buying additional software when you buy such software.
  • Training
    Buy an asset management software that provides on-demand video training and product guides.
  • Asset Tag Design
    You should buy asset management software with the ability to create barcode labels.

Keep in mind that your ability to respond to today’s new Service Management landscape depends on your organization’s Service Asset Maturity Level Contact Firescope today with any Asset Management questions you may have.

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