The growth and operational efficiency of your organization are directly dependent upon the way you manage your company’s assets. In this era of globalization where you need to operate out of multiple locations spread across national and international territories, the legacy enterprise asset management practices and systems can be a great obstacle for you.
As if these challenges were not daunting enough, we also had to deal with a global pandemic now which pretty much shut down all movement and on-premises business activities for a long time. If asset management was challenging before the pandemic, it became a major test of any organization’s management team, and that’s where manual asset management operations have been completely found wanting. The good thing is that the pandemic-driven digitization of the work processes globally has also brought forward some top-of-the-line enterprise asset management systems as well as logistics management software. These systems integrate various advanced technologies such as robotics, IoT sensors, big data, and machine learning for predictive maintenance. Irrespective of the industry verticals, such systems are helping large organizations manage their assets as well as logistics operations with great ease and efficiency.
In case you have been thinking that an enterprise asset management system is not for your organization then you must know that any world-class asset management system is effectively a business management system. Whichever industry you are in, if you use assets like machines, raw materials, personnel, tools or technology, or even physical assets such as buildings then you do need an asset management system to make the best use of the assets your organization has. Here are some of the diverse industries that are already benefiting from the deployment of a world-class asset management system:
Power generation –
We run in a machine-driven world, and the energy and utility sector has to optimize the capital-intensive assets, improve their performance and operational efficiency. At the same time, the focus on sustainability and global warming requires a lot of compliance. That’s where you can benefit from a business management solution that is tailored as per the needs of the power generation sector, is easy to use and deploy, affordable, and flexible to support business growth.
Equipment rental –
You can streamline and consolidate the entire rental business through a centralized asset management platform.
The manufacturing sector is primed for an asset management system as it allows maintenance operations to become seamless and efficient. This gives the business the ability to avoid unplanned production downtime.
By using a smart asset management system, you can increase the worth of your assets.
Now that we know that an asset management system is good for all business verticals, let’s take a look at some of the key features that an advanced cloud-based enterprise asset management software should have:
Mobility & Cloud Access:
Today’s smart software solutions come integrated with a mobile app that allows easy anytime, anywhere access. Thus, whether you are in the office, working remotely, or traveling across the globe, you can always access your asset management system and manage things seamlessly.
If you are running a logistics business then several users at different locations may use your logistics management software remotely. If the software UI is complex then a non-tech-savvy user might struggle to manage it. Advanced software will take care of this problem by creating an easy interface that will have Role-based HUBs, Main BOTs, and various other AI components to make the system easy to operate for all.
In an age when almost every major business offers similar capabilities at similar price points, the differentiator is usually the TAT and the optimization of resources. This is where a best-in-class logistics management software should be able to help you with optimized maintenance planning for your fleet and assets, crew rostering, risk mitigation, compliances, resource planning, and predictive maintenance. The best logistics management software for an enterprise-level business would be one that offers seamless integration between transportation management system, warehouse management system, fleet management, finance & accounting, rating & Billing and Hub management, etc.
As a modern business, you can’t be assumptive or dependent upon third-party reporting for asset visibility. That’s where your enterprise asset management system should offer you a complete view of all your business assets, asset availability and performance, reliability and sustenance, operational costs, and the return on assets.
The power of analytics and data: Data holds the real power when it comes to analyzing service quality, efficiency, and resource optimization. Your enterprise asset management system should be capable of providing you real-time status updates, insights on system performance, automated MIS delivery to the stakeholders, and complete live tracking of the work order as well as your assets.
What you ideally need is an enterprise asset management system from a globally reputed service provider that integrates the most advanced technologies and continues to upgrade and innovate the solutions in sync with the market evolution.