For any business to excel it must have a set of rules to follow, and a management team to tell what is best for its organization. There are multiple assets in an organization, if they are not being managed well then there is a direct impact on the business’s performance. But thanks to the technology that has grown enough to help the organization manage assets in a very effective manner through the use of software like Asset Management Software.

Every manager in the real estate industry wants to minimize the organization’s expenses and ensure every asset and equipment is available where it is required so that no work operation hindrance occurs. In order to maintain a real state structure, it is important to create a complete list of assets attached to each real estate. However, when all these activities are done manually then it leads to several issues. This is where automated Real Estate Asset Management comes into play!

An organization is equipped with a lot of assets and inventories, and they are essential for running day-to-day operations. If an essential asset is not found or it suddenly stops working, then it impacts other business operations as well. These types of scenarios are common when asset maintenance work is done manually. What’s the solution? It’s fixed asset management software. This software simplifies daily work and gives stability to work.

These days Business competition is high which is why choosing the right technology is very important as clients also want only the best for effective asset management. As they want access to the system all the time on their mobile phones as well. This is where SaaS-based asset management comes into play.

For effective asset management organizations need to improve their daily operations and business growth is the need of the hour. However, managing assets manually brings new challenges every day which impacts business in every way. That is why organizations need to invest in technologies for effective asset management. So, without wasting any time let us begin! But first, let us cover the basics!

All organizations aim to grow their business and reduce their other expenses such as operational costs, equipment maintenance cost, and so on. However, it is not an easy process as organizations have lots of assets. For this process organizations require assistance. This is where EAM comes into play. It is helpful in reducing expenses and helps in optimizing business activities. In this blog, we will know what EAM is and why organizations should invest in EAM solutions. So, let us begin!

The manufacturing industry is one of the biggest industries in the world as almost all other industries are dependent on the manufacturing industry. It plays a crucial role in countries' growth and each manufacturing unit is equipped with lots of assets and equipment that are valuable to the organization. However, lots of manufacturing units do not keep track of their assets and as a result, their assets are lost, and operation delays occur frequently.

Stock is one of the biggest costs for some associations, which is the reason most organizations are aware of stock levels. Before PCs, monitoring stock included single-stage estimations done by hand per thing, per area. This made it troublesome or almost impossible to accomplish complete visibility across huge supply chains. That is why an inventory-intensive organization must invest in an automated inventory management system.

Inventory is an important part of asset management. In order to perform maintenance efficiently, it is crucial to have inventory available. Otherwise, not only the time of the maintenance team will be wasted, but they will also have to repeat the process again. However, there are consumables that are the hardest to keep track of, because they are small and frequently used. These consumables are nuts, bolts, helmets, gloves, etc.

Usually, maintenance is performed based on two factors first is when asset failure has occurred and second is scheduled maintenance. In both cases, asset maintenance is done when the asset is in good condition or when it is too late. This is where condition-based monitoring maintenance comes into play. This maintenance is proactive, and maintenance is given to assets when it is required. For this purpose, assets are inspected regularly, several asset tracking techniques are used such as IoT.