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Things to Consider when Choosing your Asset Management Software


Things to Consider when Choosing your Asset Management Software

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Asset management software can help organisations keep track of the location, value, and performance of their assets. It can also improve business productivity and efficiency levels by enabling efficient scheduling of preventative maintenance tasks, thereby avoiding unexpected repairs and offering a significant return on investment.

If your organisation is planning to integrate asset maintenance management software to leverage the benefits offered, consider the following things to ensure that you find the right software.

Business requirements
Your organisation needs to quantify your business requirements, which should include the following:

  • Asset register: Determine how many assets your organisation has and the details of those assets. Staying well-informed about the number and type of assets will help you find the right software.
  • Asset efficiency: Decide on how you want to measure the efficiency of your assets. Asset efficiency varies with the type of assets. For example, for fixed assets, utilisation and uptime are paramount. For computer hardware and mobile devices, efficiency can be measured by speed and the ability to run the programs and apps needed for your operations.
  • Asset performance: How should your asset management software measure the performance of your assets? Performance measurement should be linked to why you acquired the asset in the first place.
  • Asset life extension: OOn what parameters does your organisation evaluate asset life extension? Is it on the basis of asset age or asset uptime and how would you like to manage the useful life of your assets using asset management software?
  • Asset tracking: Why would your organisation like to track its assets? Is it to gain more visibility, control, compliance, or all of these? Additionally, determine how you would like to track your asset movement, such as the location of portable computers and mobile devices.
  • Asset maintenance: What are the key indicators of your organisation to evaluate asset maintenance? How would you like your asset maintenance management software to report on asset management as part of your overall organisational effectiveness?

Functional requirements
Your asset management software should link in with your existing processes and also enhance them, thereby leading to improved productivity. The following are some crucial steps that can help you detail the functional requirements of your organisation.

  • Workflow: Map out every detail of your organisation, such as asset tracking, management, and reporting tasks that your organisation has to perform throughout an asset lifecycle – starting from acquisition of assets to the end of their useful life.
  • Usability: Have a clear understanding of your usability requirements. Your asset management software should improve the required processes of your organisation. For example, if you are responsible for asset management, you can look for software that automates and improves tasks like distributing asset management jobs among staff or volunteers, as well as the asset tracking and reporting on asset maintenance tasks and asset condition.
  • Dissatisfaction with the existing system: Map out the problems that your organisation is facing with your current asset management system, if it is a manual system using spreadsheets, or your current asset management software, and how you would like your new asset management software to help you overcome these problems.

Once you have a clear picture of your business and functional requirements, you can find the right asset management software for your organisation.

DIRIJOR is smart and easy asset maintenance management software that provides automated, quick, and hassle-free asset management.