5 Key Reasons Why Asset Management is Important

Asset management and tracking software programs are critical components of organisational maintenance and development. If implemented correctly, they can minimise administration costs, centralise business processes, enhance customer service (CS) and strengthen an organisation's functions. The following is a list of areas in which asset management and tracking software can help your organisation:

1. Saving on Administrative Costs

   Automating your asset tracking will immediately decrease manual labour, speed up business processes and consolidate them into one area. Naturally, this allows organisations to save on administrative costs by improving their efficiency. So much so, that employees can be redirected to more fruitful revenue-generating tasks.

2. Business Scalability

   While manual asset management, such as excel spreadsheets, may work for small organisations in the short-term, it is not future proof and will require constant modification as the company grows. On the other hand, asset management solutions allow you to expand as quickly and as freely as you need without any major modifications to your management processes.

3. Accountability

   Managing your assets is not as limited as it may seem. Rather, it encompasses who did what, when and where. It tracks where assets have been assigned or allocated, who was in charge when an item was lost, as well as anything else that can provide direct or indirect data regarding your organisation's assets. For instance, Giva eAssetManager™ and Giva eSoftwareManager™ monitor hardware and software history, license and ownership and provide comprehensive IT asset management.

4. Improved CS

   Automating your asset management means that you will also automate certain areas of your customer service. Questions can be answered much faster, fewer mistakes will be made and more issues will be solved before they turn into major problems. For instance, the Kerfoot Group, a leading provider of specialty oils to the food, technical and personal care industries in the UK, has adopted a routing and scheduling software to track and manage its fleet of delivery vehicles as they travel across the country. Important data such as the location and schedule of each vehicle is monitored and arrival notifications or delay alerts are sent to customers proactively. This has considerably improved the provider's customer service and satisfaction.

5. Increases Organisational Order and Efficiency

   Asset tracking solutions provide you with the necessary information to improve efficiency by organising your physical and virtual storage space. Identifying such trends and keeping them at the forefront of your mind when making decisions drives efficiency and order in your organisation.