It’s important for any business to have a robust asset management strategy in an environment with a growing set of requirements and demands. For any work programmes, clients and contractors need to be able to monitor and process information in order to effectively plan and create seamless links between each other.
Asset management makes a business more pro-active when it comes to operational and management information. Having fully documented assets makes decision-making easier and promotes accountability too.
At Steanne, our Geoworks7 software can help your business become transparent and monitor assets.
Tracking
The ability to track where assets are located, how they are used and when changes were last made gives you a comprehensive, holistic look at your business’ assets. Real-time info involving full asset history including all faults logged, photos taken and any jobs issued can be provided with a choice of mapping and data-based views.
Asset management software also helps with asset recovery and helps you to make decisions about redeployment etc.
Efficiency
Working out where efficiencies can be improved is about balancing needs and requirements whilst looking at your business’ existing capabilities. Where can changes and tweaks be made? Asset management software helps you to pinpoint and examine areas of your business operation where changes can be made. Decision-making is easier with requirements and limitations in front of you.
Cost-effective
Streamlining elements of your business to save costs and make better use of your budget is difficult to do without extensive data. Assets require different maintenance requirements and software enables you to look at a range of attributes for each asset, with several different data sets to be held per client or contract.
You can easily access details of any issues or faults logged against the asset, together with a cyclic operations or routine testing schedule and a full history of all outstanding and completed jobs. This gives your business the opportunity to make informed decisions regarding assets.
Financial Reporting
Increased monitoring of assets can enhance your potential for good financial reporting and help with future expenditures on related services and other needs. It will also help your business to spot trends and forecast properly when it comes to your budget and business needs. The Schedule of Rates tab in Geoworks7 gives information about the total cost per job is available with on-going comparisons to budget allocation for the contract.
Risk Management
Maintaining a full up to date asset inventory, together with the ability to plan and execute large numbers of jobs quickly and effectively are essential requirements in managing major operations such as highways, housing, public lighting or parks and gardens. These are also areas of risk and being able to monitor assets and cross-check asset logs allows you to spot trends and identify where risks are, to enable a business to create proactive solutions, before incurring more cost.
Asset management can seem like an overwhelming or largescale task for a business, but with software such as Geoworks7, it enables both clients and maintenance contractors to manage these requirements with ease.