Smart Asset Management

Employee Productivity is one of the most important factors on which the success of the company depends. However, it is not leveraged to its maximum potential at most workplaces. To resolve this issue, smart asset management is required to boost employee productivity. Managing assets is a time taking and complex task and needs to be done prudently. It helps in increasing the lifetime of the asset, reducing costs and increasing productivity. Asset management software helps you to manage your assets smartly and efficiently and enhance productivity. It has been discovered that by implementing centralised asset management solutions, corporations can increase maintenance productivity by almost 29%. 

Here are some tips on increasing employee productivity with smart asset management:

1. Centralised System: 

Decision makers in an organisation might be spread across disparate locations. There could be instances when crucial decisions related to corporate planning or strategy may have to take the quantum of assets into account. There could be errors while manually accounting for these assets. By using an asset management system, decision makers within an organisation can enjoy a centralised view of all the assets across locations. The value of these assets can also be accurately estimated.

2.  Eliminates manual work: 

Every single data entry done manually on spreadsheets consumes the time of the employees, which they could have instead invested in doing some other productive work. In addition to this, the likelihood of human errors also goes up. With asset management, workers can save their time by leveraging on automatic data entry and thus improve productivity.

3.  Scheduled Maintenance slots: 

Assets need to be regularly maintained but sometimes there are unpredicted maintenance issues, which could cause operational delays. By implementing smart asset management, the software will notify you about the scheduled maintenance slot of the assets at a specific timeframe.

4.  Reduction in Downtime cost: 

Equipment downtime is a huge problem usually faced by organizations which causes loss in productivity. Machinery needs to be maintained timely for proper functioning. However, production is halted while the machine is being serviced. Hence, it is really important to plan these activities. Through smart asset management, you can also notify about the downtime slots across the organization so that people are aware that the services are going to be down. This also helps in staying connected and being fully aware of the things going on in the organization.

5.  Holistic reporting: 

With Smart Asset Management, regular reports are auto-generated so that proper analysis and tracking are possible. Customised reports can also be generated. Thus decision makers find it easier to draw insights and take faster and impactful decisions.

6. Tracking assets: 

A smart asset management tool can offer a bird’s eye view to decision makers about the location of their assets. It could also come into play if assets are not accounted for in the books of the company but are physically available. Thus, managers wouldn’t have to waste their time or the time of their colleagues to detect assets that are missing or unaccounted. 

7.  Augments forecasting activities:

As written earlier, a smart asset iphone stroge management software enables decision makers to get access to an asset’s history. This is vital to evaluate an asset’s life cycle. Companies can accurately analyse the entire lifecycle of an asset and arrive at cost and maintenance figures which are likely to be precise. Thus, they would be able to prepare reliable budget forecasts 

Thus, a smart asset management will not only help organizations to increase employee productivity but also reduce the cost of repair and downtime, enhance safety and get quicker insights.

By Anurag Rathod

Anurag Rathod is an Editor of, who is passionate for app-based startup solutions and on-demand business ideas. He believes in spreading tech trends. He is an avid reader and loves thinking out of the box to promote new technologies.