Every business has an inventory of physical assets from tables and chairs to computers and refrigerators. Some of these assets are essential to the smooth operation of the business while others are costly and must be kept in good working condition. Unfortunately, it can be difficult to keep track of all the items in the business and make sure that they are in working order. To help solve this problem, many companies are turning to facility asset management software.
What are the Benefits of Facility Asset Management Software?
Complete Inventory – One of the biggest benefits of facility management software is that it allows companies to keep track of all their items in one centralized location. This means that managers know where each important piece of equipment is located at any time. It also eliminates the need for manual inventories which can take a lot of time and are prone to human error. Aside from having an inventory of your assets, you can also keep track of spare parts so your maintenance workers can find what they need when they need it.
Efficient Maintenance – Since all equipment is cataloged in one place, it is easy to identify what needs to be repaired or replaced when it is needed. It also facilitates preventative maintenance which prevents problems from developing, saving you time and money in the long run. By keeping on top of your asset maintenance, you can extend the useful life of your expensive equipment. In addition, you minimize downtime that can hurt your business, thus improving customer satisfaction and increasing sales.
Streamline Work Orders – Facility management software makes it easy to create work orders for any equipment that needs repair or replacement. You can assign tasks to specific employees and be constantly updated on the progress of the repairs. This reduces the time it takes to get things done and prevents delays in the work order process. You can also track the work order history for each piece of equipment to identify assets that may be performing less efficiently than others.
Easy Reporting – Most facilities management software comes with built-in reporting tools that allow managers to create reports based on their individual needs. You can schedule reports to be emailed to you automatically so you can stay on top of the condition of your assets as well as sort assets out by type or status. This makes it easy to keep an eye on maintenance costs and make informed decisions about future equipment investments.
Manage Multiple Facilities – Most asset management software can be configured to meet the requirements of multiple facilities, making managing assets across facilities easier. This saves you the time and effort of individually managing each facility. You can also save costs by consolidating work order call-outs across locations. Furthermore, you can use the captured data to determine why some assets may not performing as well in certain locations and remedy the situation.
Who Needs Facility Asset Management Software?
You may be thinking that facility management software is only for huge, multinational companies. However, even small businesses can benefit from effective asset management and preventative maintenance. In fact, it can be even more useful to a smaller business than a large one because it allows you to save valuable resources and maximize your profits. Here are some examples of businesses that could use asset management software.
Restaurant – Equipment like refrigerators, ovens, fryers, and blenders are necessary for a restaurant business to operate smoothly. Unfortunately, these pieces of equipment are prone to failure and need to be maintained frequently. A broken oven can take several items off the menu while a broken air conditioner means your customers will be going elsewhere.
Grocery Store – Unless it is a farmer’s stall on the side of the road, a grocery store will likely need to have working chillers and check-out stations. In addition, a working air conditioning system is essential to keeping food from spoiling and keeping customers comfortable while they shop. Failure to maintain these items can lead to a loss in saleable stock as well as a loss of customers.
Corporate Office – A typical commercial office will house numerous pieces of vital equipment such as computers, printers, and copiers. Failure to properly maintain these items can lead to a delay in production or even a complete shutdown of operations. A broken computer or server can also lead to data loss, which can have a huge impact on your business and reputation.
Real Estate Management – If you lease property, keeping track of your asset inventory is essential. Having equipment that works properly is crucial to tenant satisfaction and retention. Failure to keep assets on your rental properties adequately maintained can lead to loss of rental income and damage to your reputation. In certain cases, it may even result in lawsuits.
From cookers to computers and small to big facilities, assets are integral to the success of a business. Facility management software is a program that is designed to keep an inventory of physical assets and help businesses keep track of them. This helps facility managers and organizations to save both time and money and keep the business running smoothly. If you want to reap the benefits of asset management software, consider implementing it today.
