Businesses can鈥檛 manage or track assets they don’t know they have. Many companies aren鈥檛 fully aware of all their assets, where they鈥檙e located, or who鈥檚 using them. This blog delves into why firms are increasingly turning to software for asset management.
Asset Management System (AMS) came into being with the rise of digitization, making the tracking of both physical and non-physical assets easier.
Assets are items of value that a company owns or rents. Tangible Assets could be Computers, machinery, vehicles, buildings, furniture, inventory, stocks, and cash. Intangible Assets include Domain names, websites, brand names, trademarks, patents, databases, software, copyrights, and goodwill.
AMS can be either on-premise or cloud-based. While on-premise solutions might have lower setup costs but can leave you tied to a single vendor, the significant benefit of AMS is real-time tracking which provides businesses with great clarity on how assets are used across departments, ensuring all purchases are used efficiently.
When choosing an Asset Management Software, make sure it meets your business needs, has customizable reports, allows access via multiple devices, and offers customizable item details.
In conclusion, any business can benefit from using an AMS. When choosing a system, ensure it meets your current needs and is scalable for future growth.
