What is an Asset Management System?
Asset management is a company’s equipment and goods tracking system for their daily business operations. Asset tracking is increasingly difficult especially if the assets are located in different branch office locations, or even leased and placed in various client/partner locations.
A great asset management system can improve operational efficiency, extend the life of an asset, reduce damage costs, and manage capital expenditure better throughout the lifetime of the asset.
Why is Asset Management Important?
Unfortunately, companies who are not careful in handling their assets will not realize until they are faced with problems such as:
1. Unknown location and time of transfer
Assets that are not carefully recorded will be difficult to find, especially if assets are only recorded when leaving the warehouse and not when moving from one customer to another.
2. Equipment that is damaged and difficulties in monitoring maintenance status.
If any damaged equipment is not reported and maintenance is not monitored, when one day the client’s needs are suddenly high, the company must be forced to buy or lease the equipment again.
3. Customer dissatisfaction due to the slow handling of asset damage.
4. Inaccurate information needed for accounting.
For example, the usage length, usage status (productive/not), the data needed for the calculation of depreciation, etc.
A paper-based manual system with scattered data sources is no longer sustainable in this increasingly competitive market. Advotics relies on synchronization to collect reports from all data sources into one system.
Centralized information systems can facilitate technicians, supervisors and management in tracking the movements and condition of assets. Now, the company can monitor all its equipment and its movements in the field. Assets can be transferred from the company office to the client, or from one client to another.