Every business with fixed assets, like production machines and equipment, must ensure that those are in good operating condition. However, managing fixed assets without a dependable system can be disastrous as assets may go missing or get damaged if not adequately managed.
Hence, a fixed asset management solution can greatly help a business. CloudApper EAM provides a simple way to manage assets. It is the perfect tracking tool as it allows the company to manage its valuable assets.
Why is fixed asset management critical to a business?
Fixed assets are a basic necessity for any business, which is why they fall under one of the four factors of production. The status of fixed assets may differ depending on the size of the company but is always crucial. Companies invest a certain amount of capital in them for the purpose of running operations.
It has been noticed that after the acquisition, companies are less concerned about the maintenance of their physical assets. Indeed, otherwise, pieces of equipment are running without following the proper guidelines, resulting in a shorter life cycle. Theft and the misplacement of assets are common as well. Companies often have such an experience without finding the culprit.
Faulty machines are another major issue as they put the safety of the workplace at high risk. An incident can cost lives or destroy valuable properties at any time. For such reasons, companies practice fixed asset management.
Fixed asset management aims to ensure that assets are well-maintained and utilized in a way that maximizes their value. Effective fixed asset management is crucial to ensuring that businesses keep running smoothly because fixed assets are essential to the operations of many businesses.
Monitoring asset condition, scheduling asset maintenance, and keeping track of assets’ locations are all tasks that fall under the category of fixed asset management. A company can ensure safety and reduce downtime, make financial savings, and boost productivity by managing its fixed assets effectively.
The key features and benefits of a fixed asset management solution
The whole process of managing fixed assets requires a lot of manual work. The communication required to track, assign, and service machinery demands lots of time and effort. Managers can easily get overwhelmed by the workload, causing a gap in operations. Time consumption is also a bottleneck. However, with an appropriate management platform, such issues can be easily addressed.
CloudApper asset management system offers the ideal features to optimize the work process, including the following.
Updates with notifications
Alerts & notifications are some of the most useful and helpful features. Everyone in the organization benefits from them. An alert is sent to every employee in the loop whenever a new purchase request or any change is made in PR.
When an asset leaves the building, it also sends a message to the person in charge. And if the stock is running low, a message will be sent to the person in charge.
Track maintenance dates
Asset tracking is required by all organizations because each company has valuable assets that must be safeguarded. Furthermore, every asset has important work to do, and if that asset is unavailable or misplaced, work operations will be delayed, and the business may suffer a loss. The asset-tracking feature provides a comprehensive view of your assets and increases the visibility of each asset.
To improve accountability, tracking the users of the asset is crucial. When a company has exact information about the asset’s user, any incident can be tracked down. Finding the appropriate reason for any incident would help the company to come up with more fitting decisions.
The main hassle of fleet management is tracking movements. Many businesses need to constantly move their assets around. For them, an asset management solution will bring effective monitoring.
Easy report generation
Recording asset data will help to easily compile them. In this way, while making a report, there will not be a missing factor. CloudApper’s EAM solution provides an excellent dashboard displaying all the important data in easily understandable charts.
CloudApper asset comes with all the essential features
CloudApper is a customizable fixed asset management solution. If any function needs to be changed, the user can do so without any coding knowledge. Plus, the system allows remote monitoring and management of your precious assets. To learn more about our custom solution, contact us now!