Asset Management Software For Small Business – A software is a computer program designed to allow the user to engage in a certain task or set of tasks. In business process automation, business process management or BPM usually refers to a type of software that provides tools for modeling, defining, and automating business processes. This can be done either with dedicated BPM software or with enterprise-wide business systems.
I think you might be getting confused. Do you mean asset management software for small businesses? Or do you mean software for managing small business assets? Yes, the two terms are pretty much the same and there must be a difference between these two words and phrases. Well what is the difference between them? And how we should manage our business asset in order to get profit out of it?
Do you manage and track your company’s assets and depreciable properties? If you do, then you probably understand the importance of asset tracking. Asset monitoring can help your company reduce its operational costs by reducing damages and unexpected replacement costs. However, it can be difficult to maintain an efficient asset management system (AMS) if you’re not using the right asset management software. Below, we’ll go over three of the most critical aspects of AMS that every small business owner should keep in mind when choosing a software provider.
f you have a small business and you’re looking into asset management, you might be wondering what software features will best serve your needs.
The 10 asset management features that we have selected for this guide, include:
- Asset Lifecycle Management
- Inventory Management
- Tracking Technologies
- Asset Check-in and Check-out
- Maintenance Management
- Work Order Management
- One Centralised System
- Asset Discovery
- IT Help Desk Management
- Cloud-based and Mobile-friendly
10 Most Valuable Asset Management Software Features for Small Businesses
The 10 key asset management software features listed here are critical to ensuring effective management of a small business’s assets. They’re relevant to all types of organisations and industries such as manufacturing, retail, construction, and transport.
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- Asset Lifecycle ManagementEffective asset lifecycle management can be found in most asset management and EAM systems. As a software feature, it is designed to help maximise the lifecycle of an organisation’s fixed assets, from acquisition and usage, through to disposal.
Asset lifecycle management helps to understand an asset’s total cost of ownership and inform strategic planning and decision making. For example, knowing how much an asset costs to maintain or be replaced is crucial to a business’s bottom line. - Inventory ManagementInventory management can be a useful tool for warehousing operations. It can help to track, manage and control inventory all from a single dashboard.By doing so, a business can view stock levels at-a-glance and be alerted when parts and supplies are running low.
By knowing what is in an inventory, organisations can re-order new items only when necessary and avoid stock levels becoming depleted. - Tracking TechnologiesTo manage inventory effectively, assets need to be tracked efficiently.
Asset tracking goes hand in hand with inventory management. Many asset tracking software features offer barcode, RFID and Bluetooth tracking, where the software is used in conjunction with scanning devices.The tracking technologies mentioned above are ideal for warehouse operations, while GPS tracking is commonly used to track fleet vehicle assets. - Asset Check-in and Check-outThis software feature is extremely useful for tracking the whereabouts of assets as they travel from department to department, or from site to site.
For example, if a company has hundreds of laptops, they’ll need to know where they all are and who is using them.The Asset check-in and check-out feature will log whether an asset is available for use and who used it last. If it’s not available, they’ll be able to see which employee has already checked out the asset. - Maintenance ManagementIf a small business needs to perform regular maintenance on its assets, a Computer Maintenance Management System (CMMS) can help.Maintenance management is one main feature that can be found within CMMS software. It allows users to plan preventive work and routine inspections to avoid costly unplanned downtime and to eventually move away from reactive maintenance.Also Read: What is Preventive Maintenance & How it can Reduce Downtime »This allows assets to experience less downtime overall and can lead to significant cost savings.
- Work Order ManagementSome software features regarding work order management can be linked closely to that of maintenance management.Work order management helps to centralise work requests, providing visibility to the entire maintenance team. It also helps to make jobs more labour-efficient and can greatly improve response times.For example, a manager runs a heating and plumbing business that has a team of gas engineers on the road responding to jobs. Through work order management, the manager can identify which engineer is geographically closest to a new job and assign that job to that person.
- One Centralised SystemIf a business is continually growing, then it can make sense to use an asset management software solution that integrates business functions such as finance and HR.EAM software also allows a business to see the overall view of all company assets and helps to understand their impact regarding other business areas. For example, EAM can help with budgeting and forecasting.
- Asset DiscoveryAsset discovery is mainly used in IT asset management (ITAM) software. This feature helps to identify all assets within the same network.Also Read: How to Map IT Assets on Your Network »For example, it can identify what software is installed and on which devices.It can also help with diagnosing faults with IT equipment and avoid threats, such as malware, before they become an issue.
- IT Help Desk ManagementThe faster a business grows, the busier an IT department can become. So, for employees to do their jobs effectively, they must have access to working IT equipment.
An IT help desk management feature aims to centralise support requests, allowing IT technicians to prioritise issues and respond to problems accordingly. - Cloud-based and Mobile-friendlyIn the case of asset management and maintenance management, having software available in the cloud and as an app is beneficial for any size of business.It means that designated employees don’t have to be on-site to access and update essential information related to business assets.Instead, they can perform their work effectively at other premises, out of hours or on-the-go.
Asset Management Software For Small Business
EZOfficeInventory
By EZOfficeInventory
4.6 (1142)EMERGING FAVORITE / 2021View the Capterra ShortlistEZOfficeInventory is a cost effective cloud based solution with an intuitive interface for asset management needs. With support for remote team collaboration around asset reservations, maintenance, checkouts, and audits, with Barcode and QR Code scans via our mobile app, you’ll be up and running in no time. Perfect for remote teams with asset tracking or coordination needs. We are offering special COVID19 related discounts – reach out to us for details. Learn more about EZOfficeInventoryCOMPARESAVE
AssetSonar
By EZOfficeInventory
5.0 (3)Ensure software compliance, lower hardware downtime, and always be audit-ready with our powerful IT asset management solution for remote teams. Get complete visibility into your IT infrastructure by IT asset lifecycle management, software license tracking, detailed insights and timely alerts. We also play well with service desks like Jira & Zendesk and device management tools like Jamf, SCCM & Microsoft Intune so you have a single source of truth regarding your IT assets. Learn more about AssetSonarCOMPARESAVE
Nlyte DCIM
By Nlyte Software
4.3 (23)Nlyte automates tracking of an assets lifecycle. Receiving scans assets as they enter the receiving dock to ensure they are quickly deployed. Automated network discovery tracks the additions, status changes, and moves of networked assets, software, and IoT devices. The network is monitored and changes made to asset the asset database, and integrated CMDB, ITSM, and finance systems for a single source of truth. User-based reporting can provide exception reporting for ITops and Security teams. Learn more about Nlyte DCIMCOMPARESAVE
Locate2u
By Locate2u
5.0 (2)Locate2u is the perfect tool to manage your deliveries. We’ll take care of route optimisation in seconds rather than hours. You’ll be able to send a tracking link via SMS to your customers so they can track you live. Once completed you can capture proof of delivery. We work with businesses across the globe from couriers, fresh produce, furniture, retail and restaurant delivery. It’s an all-in-one simple to use app. It’s perfect for 1 vehicle or 1000. Route, Optimise, track your team today Learn more about Locate2uCOMPARESAVE
UpKeep
By UpKeep Technologies
4.7 (1223)TOP PERFORMER / 2021View the Capterra ShortlistUpKeep is rated the #1 mobile-first Asset Tracking Software to streamline work orders, facility, and asset management. Learn more about UpKeepCOMPARESAVE
Asset Panda
By Asset Panda
4.6 (1201)TOP PERFORMER / 2021View the Capterra ShortlistAsset tracking platform that is cloud-based with mobile apps (IOS/Android). Rated Excellent by PC Mag! Get a free guided demo today! Learn more about Asset PandaCOMPARESAVE
Fiix
By Rockwell Automation
4.4 (533)ESTABLISHED PLAYER / 2021View the Capterra ShortlistFiix, a Rockwell Automation company, is the #1 asset management software to help you boost asset performance and hit uptime targets. Learn more about FiixCOMPARESAVE
Freshservice
By Freshworks
4.5 (423)Track and manage your Organization’s Assets with Ease using Freshservice Asset Management. It is free of cost for up to 100 Assets. Learn more about FreshserviceCOMPARESAVE
eSPACE
By Cool Solutions Group
4.4 (423)NOTEWORTHY PRODUCT / 2021View the Capterra ShortlistThe eSPACE Work Order Management module is the most comprehensive facility management software on the market! Learn more about eSPACECOMPARE
Conclusion
Asset management software is used by all major transport operators to reduce costs, streamline workflow and improve efficiency. It also can be used to monitor equipment performance and cut down on the cost of replacing parts. If you are looking for asset management software for your small business, your first step should be to contact an experienced system provider who will be able to help you create the right set up for your business.