- 1 What Is SaaS-Based Asset Management?
- 2 Why Do Asset Managers Choose SaaS-Based Asset Management Software for Their Business?
- 3 Conclusion
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, and 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. With SaaS (Software as a Service)-based asset management, you have secured data and accessibility and flexibility to use software from anywhere at any time, all you need is a good internet connection.
SaaS-based asset management can be crucial for asset managers and top management of an organization. In this blog, you will discover multiple reasons why asset managers choose SaaS-based platforms for their organizations. So, without wasting any time let us begin. But let’s cover some basics first!
What Is SaaS-Based Asset Management?
SaaS-based asset management enables organizations to manage assets & access data from anywhere across the world. Moreover, you can change work operations and change the priority of work order as per the requirement.
It gives you the flexibility to work whenever you want. You can check where your assets are located and who is using them with all the information related to all or specific assets.
Furthermore, you can get data analytics that are helpful in making informed decisions that make you more productive.
According to Fortune Business Insights, “The software as a service (SaaS) market is expected to grow from USD 130.69 billion in 2021 to USD 716.52 billion in 2028 at a CAGR of 27.5% during the forecast period.”
With SaaS-based asset management, you can create a work order for asset maintenance to avoid asset failure. This system can give you alerts & notifications about upcoming maintenance.
Moreover, you can change the priority of the maintenance work order. You can know which asset is taking more maintenance with reports that help in optimizing asset performance, strategic decisions, and setting future goals as well.
Why Do Asset Managers Choose SaaS-Based Asset Management Software for Their Business?
Below we have discussed why Asset Managers choose SaaS-based Asset Management Software for their business:
1. Cloud-Based Asset Tracking in Real-Time
Nowadays organizations have moved from traditional asset tracking methods such as the pen & paper method to cloud-based asset tracking. It enables organizations to track and monitor their assets from anywhere without compromising accuracy in real-time.
Moreover, you collect data that makes you more efficient. This real-time data is helpful in asset maintenance and tracking current conditions and gathering other crucial information.
2. Minimize Software Expenses
SaaS-based software is cost-effective as you do not have a high initial cost other than the computer to run this software, which is also an additional expense.
With cloud technology you do not have to purchase any software, you instead take a subscription, which saves a lot of money, and this software is light weight. Additionally, the cloud is fast, deployed easily, and has better accessibility.
3. Data Security
Lots of organizations worry about data security as data is the most important asset of the organization. Still, they do not invest in security. However, with cloud-based asset management, you do not have to worry about data security, as the cloud service provider will take care of it and your data security expenses are also saved. For security, you can restrict users so that only limited people have access to the data. Organizations can work with cloud service providers to add more security.
4. Latest Updates & Patches
For running a business efficiently, it is important to have the latest software updates and patches that provide more features. It makes you more productive. Without paying extra charges you get the latest technology and features that help with better asset management.
It is also one of the main reasons why maintenance managers choose SaaS-based software for their businesses. Furthermore, whenever new updates are launched you also get all security updates & patches automatically.
5. Collecting & Analyzing Data
SaaS-based platforms are easy to understand, and the most important information is centralized. For instance, if maintenance is scheduled for an asset, then you can know who is working on that work order, and how frequently the asset was utilized.
All the information is centralized, and when you have centralized information, it means you have greater visibility & strategic decisions can be made easily.
We know that the biggest advantage of SaaS asset management is accessibility and along with that you get several other benefits. For asset managers, optimizing asset performance, and ensuring sudden asset breakdown does not occur, and asset productivity maximizing is one of the main responsibilities.
Saas-based asset management enables them to perform all these activities easily, that is why asset managers must utilize this technology so that work pressure is minimized as well.
For a better return on investment, optimizing total cost ownership, and minimizing asset downtime, CloudApper Assets is a blessing. Organizations should invest in this technology for business growth.