Asset Management

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The Importance of Timely and Valuable Asset Management Solutions

The need for effective and efficient asset management has given way to a range of asset management solutions. The assets of a company all play significant roles in the achievement of corporate goals, and therefore must be utilized and managed optimally. Asset management in the modern age has become all the more critical, seeing that technological and information changes have shifted the way industry managers and company leaders make vital decisions.

The core of industry asset management

Any organization or industry is held together by assets, both tangible and intangible. The assets of a business can range from the simple, like a piece of furniture, to the more complex and expensive, as in a transport system. The company personnel or human resources can be counted as assets as well.

Intangible assets can include copyrights and patents, as well the digital systems and information circulating within the business and across units. In asset management, the assets of an industry must be made to function optimally and to be maintained in such a manner that decreases costs and maximizes value.

When assets become mismanaged, the industry could suffer seriously. From the equipment to the personnel, the assets and resources of the business must be optimized for better productivity and value. In any organization, knowing the depreciation and the value of fixed assets is important, just as understanding how the work flow systems can be best applied by the employees or the organization personnel.

Simply put, assets should be viewed as profit sources, and it is important for any industry to be able to tap into the money-making potentials of assets. Managers should be able to identify assets from liabilities so as to improve on capital.

The central role of asset management systems

These solutions, or otherwise termed as asset management services, all serve to assist organizations in identifying the assets that they possess and effectively calculate the value that they are able to provide for the company. Presently, these solutions are available in software form, and are available from a host of asset management services providers.

These services are geared towards the effective organization of various asset types, from production and facilities to transportation and human resources. Both the hardware and software resources must be given due importance, seeing that information technology within the company also needs due focus. These management tools also aim to analyze the depreciation trends of fixed assets so as to help industry managers in valuable decision making.

Physical assets need to be estimated according to its depreciation value, and to arrive at a conclusion whether to reinstate or repair the physical asset, whichever is more cost-effective.

What to look for in the best asset management services

There are wide ranging asset management systems offered by vendors presently. It is important therefore to find the one model well-suited to the needs of your company or organization. Asset management can be narrowed down to specific types like investment management, IT asset management, digital asset management, and fixed assets management.

A good asset management system should be able to enhance assets return and minimize costs of operation and maintenance, as well as calculate risk. It should also promote labor efficiency and increase output efficiency. It must also provide information on how to effectively track hardware and software assets and to evaluate their functions both in the short-term and long-term sense.

The realm of business has become more competitive than ever, and with this knowledge, organizations need to keep pace with global competition and shifts in technology through timely and valuable asset management solutions.

Online Asset Management Software

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There is no doubt that asset management software is needed in today’s environment. But what if you want to communicate with others offices? For that you will need to invest in an online asset management software system.

Online asset management software is connected to an enterprise wide network or the Internet by embedding special equipment that will allow maintenance personnel to track the functioning of the equipment in real time. Thus, you are to perform preventive maintenance measures and quickly take action when there are breakdowns. This also enables the company to manage their inventory from any location by using the web browser.

To give you an idea, here are some examples where online asset management software can be used.

Since this can be accessed remotely, it can help information technology personnel monitor the hardware and software installed on the enterprise network. Advanced versions of these applications can also help managers control the hardware and software applications on the servers.

Even advertising and media agencies have joined the bandwagon. This is because it helps the people in these companies automate the process of maintaining, marketing, publishing and viewing their multimedia gallery or store.

As for software product development companies, they can use this electronically distribute or manage the digital products they have developed.

On the human resources level, the online asset management software will help the HR department to track employee performance, manage talent and even identify star performers. This can also be used when they go out and attend job fairs so resumes can be stored.

Finance companies also use this so their clients are able to track their own financial assets especially stocks and mutual fund investments in real time. All the customer has to do is log in and then get the latest status on their assets.

Once a company has fully integrated the online asset management software, it will be easy for the various departments to talk to each other. It can detect the installation of unlicensed or unauthorized software, enhance helpdesk security and generate reports so this can be viewed and printed.

Asset management software provides analysis of data, which helps company to make new strategy plans for cash flow, helps in the finest utilization of resources, and in turn increase the productivity of the company.

You can find online asset management software online. Most of these will allow you to download their program for a 30 day trial and then you have to buy it to continue using it. When you are shopping for it, compare their features and the price. Don’t forget to read product reviews and blogs because how well it has performed or not has already had been tested by various users.

When you have found the right online asset management software program, make sure that those in the company are trained how to use it. This will prevent problems later on when data is sent back and forth.

Asset management even if it is now available online is still the process of designing, implementing, planning and maintaining the company’s assets. These include everything from infrastructure, plant, property, and human resources. Being able to access this from a remote location is just another way of checking on things if you are out of the office while you are out of town or out of the country.

Free Asset Management Software

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Can you get asset management software for free? The answer is yes but there only a handful of them around. Whether it is free or not, it is truly something that companies need in order to prevent duplication. While most vendors sell these to companies, those who are unsure whether the system will work for them can avail of free trials which can be used for a short period of time.

If your company has an information technology department, then chances are they can probably make one on their own. However, not everybody can do that so you better read on to know which ones are giving this out for free.

One company that comes to mind which offers free asset management software is SysAid. You can download the freeware from their website and then use it. The only limitation is that their program can only work for organizations that have less than a hundred computers. If you are happy with their system, you can buy the full product by submitting your details then a company representative will get in touch with you.

Another company is Footprints. You can download their asset management software program for a 30 day trial period. Afterwards, you have to pay in order to continue using their services.

But asset management software can be used for others things than just monitor the inventory of a company.

It can help guide management’s decision in dealing with non-profitable assets. If there are certain offices that are not making money, it is best to just close it even if it means cutting a few jobs from the workforce. If there is surplus, the company can convert this to cash by selling these off to potential buyers. Also, if the current equipment is already outdated, there is reason to upgrade this to something better.

One other aspect of asset management software is its ability to catalog music, videos and pictures. Technically, such data are assets of the company and these are better known as digital asset management systems because everything is encrypted digitally.

This will enable the user to get this based on the format of their choosing. Some sites that offer this users are YouTube and Multiply. But this could not be possible without the media, entertainment and advertising agencies that first used this as they needed to archive their vast video library.

It is forecasted that more companies will utilize asset management programs in the future. But those who decide to invest in such a system should remember that it is merely a tool that is to help the company. Somebody has to be trained how to use it so this can be accessed by every department via the intranet.

Are asset management software applications only for large companies? The answer is no because there are versions for personal users. These may be hard to find so it is best to just stick with web based applications.

The chances of getting free asset management software are very slim. But aside from the two mentioned, there are others to choose from so if you are in the market, it is best to look for these online. It is best to read reviews and blogs that are written about them or see it for yourself by trying the free trial version first before buying the program.