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Asset Infinity
Asset Infinity is a leading B2B company offering cloud-based fixed asset tracking & management software.
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Asset Infinity 2021-11-11
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An organization has lots of aspects to look at in terms of equipment tracking & their time is not utilized productively.

But equipment tracking system helps organizations in minimizing these types of scenarios and increasing efficiency.

For keeping track of assets barcode tags, QR Code tags, RFID labels are utilized.These tags play a crucial role in asset tracking and effective asset management.Also Read: 6 Ways to Improve Your Business with Equipment Management SoftwareWhat Are the Advantages of an Equipment Tracking System?Advantages of the equipment tracking system are discussed below:1.

It can become tedious to absorb full information and work with full concentration.Anyway, how can you deal with these issues?

Industries such as construction & manufacturing have several facilities & often their assets are moved around a lot from one place to another.This is where assets and equipment loss are chances are increased.The best way to avoid asset loss and misplacement is to use the check-in & check-out feature.

It helps in making informed business decisions.ConclusionEquipment tracking is an important aspect of asset management.

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Asset Infinity 2021-09-30
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The paper processes were used date back to the 20th century when face-to-face interaction was in more demand to resolve user and customer issues.

The helpdesk used to be a physical location that people would go to for support and the complaint ticketing system was an internal process for managing the requests.

In the 1960s, the concept of telephone call centers was introduced to handle customer service issues, which were supported by Interactive Voice Response – IVR.

What Are the Benefits of Ticketing Management Systems?Here are a few benefits of a ticketing management system that you should know and consider:  Centralized System:As the ticketing system was organized centrally there is no need of hassles through spreadsheets or email inboxes trying to figure out the issues and their resolution processes.Automatic management of tasks:Using the ticketing system to manage the processes like ticket categorization and prioritization, ticket routing, alerts and notifications, and ticket status management will support the agents to spend more time resolving the actual support issues.Better Customer Experience:It will assist in improving requestors’ perceptions for the support experience by troubleshooting the basic steps of agent-assisted support in terms of consistency and transparency along with information, FAQs.Enables Prioritization of Work:The ticketing system enables the requests to get prioritized according to the requirement and difficulty of a query, instead of being handled in the order they are received.Drives Staff Accountability and Training:The ticketing system provides managers with a view into the work of the employees which can help brighten the staff development opportunities.In-Built tracking and reporting:The data created by the software helps to drive the resourcing decisions, process improvement and enable the tuning of support processes to increase customer satisfaction.Read More: 7 Aspects You Must Look While Choosing Asset Management SoftwareWhat Are the Best Practices of the Ticketing Management System?Best practices are the set of methods or techniques that are proven to produce the most efficient result.

After thorough experience and research best practices are considered a standard way of doing something.

Here is a list of ticketing management system’s best practices that you should focus on:  1.

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Asset Infinity 2021-09-04
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Technology such as asset management software can play a crucial role in improving the daily operation of the business.Asset management software has been very useful to organizations as it helps improve operations and increase productivity.

However, as technology is improving with that asset management software is also improving.According to Statista, “The global market for fixed asset management software is forecast to grow from 3 billion U.S. dollars in 2019 to 5.2 billion U.S. dollars in 2024.” As the market for asset management software is booming, here are asset management trends.Asset Management Trends For OrganizationsAlso Read: Importance and Best Practices for Physical Asset Management1.

Several organizations utilize this software in order to improve maintenance activities.Maintenance is done for several purposes such as longevity of assets, decreasing maintenance expenses, minimizing asset failure chances.This software focuses on preventive maintenance which means that assets are scheduled for maintenance before they fail.2.

Tracking and monitoring assets are done to avoid asset theft and misplacement.Warehouses are huge, sometimes a lot of time is wasted as employees are unable to find the required inventories.Asset tracking and monitoring software are helpful in providing crucial information such as where the asset is located what is the status of the asset.3.

Ensuring ComplianceIf an organization is not in compliance with the rules and regulations then it can end up paying a huge penalty obviously no organization would like to pay penalties.For example, if during an audit it is found that an organization is using expired software then you will be penalized.Another example is when assets are not maintained then they can lead to catastrophic asset failure, that is why an auditor checks that assets are maintained regularly or not.Also Read: What Are the Next Trends for Asset Tracking System to Consider?This software will alert you when software is about to expire, or asset maintenance is required.

This alert feature comes in handy to different managers in diverse ways.You can also keep a record of bills in the software that will be helpful in ensuring compliance.5.

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Asset Infinity 2021-07-13
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You can also do Asset lifecycle management with this software.With the help of this software, you can maintain assets easily and efficiently.

Eliminating Manual ApproachesManual approaches such as pen and paper method or spreadsheet utilization are mainly used by small size organizations.

Pen and paper are prone to error as they can be inaccurate mainly because of human error.The spreadsheet can be accessed by anybody, and data can be changed by anybody intentionally or unintentionally.

It saves time and you do not have to visit the department.Moreover, it provides you to control your assets and manage inventory information from this platform.

Increasing Asset LifeFor small size organizations, money is a sensitive subject and they have limited resources.

So, getting more by spending less is one of the main objectives.Increasing asset life is similar to that, it helps organizations in maximizing asset life from the acquisition to disposal of the asset.

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Asset Infinity 2021-11-01
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Therefore, in hospitals, it is the need that all medical equipment is organized and must be in decent shape.

It keeps assets in good condition with the help of preventive maintenance software you can schedule maintenance in advance for each asset.Moreover, it plays a crucial role in boosting the performance of assets.

It minimizes the failure chances of assets.According to the statistics of Markets and Markets, “The global predictive maintenance market size is expected to grow from USD 4.0 billion in 2020 to USD 12.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 25.2% during the forecast period.”Why Is Preventive Maintenance Important for the Healthcare Industry?Preventive maintenance helps the healthcare industry in taking care of assets proactively in terms of medical equipment maintenance.

Money-Saving Approach in the Long TermAs we know lots of hospitals have limited funds & run-on donations so money shall be utilized smartly.

For instance, if an ambulance suddenly stops then it will be a bad situation that can make the patient suffer.That is why keeping assets maintained is important!

Prioritize Each Work OrderEach work order is prioritized and categorized as per the asset utilization and dependency.

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Asset Infinity 2021-09-20
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For startups managing assets and keeping track of them and managing operations is not an easy task.

However, in this blog, we will focus on the lessor viewpoint.

For organizations who take assets on lease or rent, they need equipment rental software that can help these organizations in keeping track of assets and also assist in managing them.

It is helpful to organizations in several ways such as organizing operations, managing assets, streamline processes.It enables the organization to take control of equipment with real-time data assistance and visibility.

Maintenance minimizes the chances of sudden failure and repairing time is also minimized.3.

Because there are many types of maintenance that exist but mainly it can be divided into two categories.

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Asset Infinity 2021-08-26
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If you don’t keep them maintained, the chances of breakdown will increase, and maintenance expenses will increase.Furthermore, your business operations will be hindered as well.

How Does Asset Maintenance Software Help?Asset maintenance management is mainly done to manage the maintenance tasks, maintenance scheduling, maintenance expenses, ensuring that spare parts available are essential.The process of asset maintenance enhances the reliability and safety of physical assets.

This software increases the life of assets by providing maintenance on time and minimizing the sudden failure chances.Also Read: How Chemical Plant Gets Benefits from Asset Management?What Are the Benefits of Asset Maintenance Software?The benefits of asset maintenance software are discussed below:1.

As the manager mentioned, all the activities that need to be done in this way technicians do not forget any activity.This way only effective work is delivered, and productivity level increases as well.Also Read: 7 Aspects You Must Look While Choosing Asset Management Software4.

When you have automated software, this system will alert you about upcoming maintenance and remind you when no action is taken for maintenance work.The reminder is sent through SMS, email, and application notification.

So, technicians and managers do not have to remember manually as this software keeps track of maintenance scheduling and alerts as per the calendar dates.Whenever any work order is assigned to a specific technician then he is notified about the same.5.

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Asset Infinity 2021-07-02
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There are lots of tools that help in maintenance management.

This software automatically schedules maintenance so it saves time for managers and they can focus on other activities.It increases assets and equipment lifecycle, as the automated software provides data and it tracks asset life cycle from asset procurement to asset disposal.

It also enables managers to see work order status.

If you want your assets to use for the long term then proactive maintenance must be implemented.According to the 2018 Plant Engineering Maintenance Survey “Predictive maintenance is gaining some more attention.

Reports provide accurate information and assist in making business decisions.4.

This software will alert you about low stock then the responsible person will start refilling stock.ConclusionMaintenance is an important aspect of an organization and when maintenance is neglected business operations suffer.

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Asset Infinity 2021-10-28
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For asset tracking here there are several asset tracking technologies such as Barcode, QR Code (Quick Response code), NFC (Near field communication), IoT (Internet of Things), GPS (Global Positioning System), BLE (Bluetooth low energy), etc.However, in this blog, you will know What exactly is RFID?

Unlike barcode technology, the RFID tag solution is not required to be scanned in a straight line.Another advantage is that you do not have to scan items one by one, RFID scanner can scan multiple tags at once.Also Read: Pros & Cons of Using RFID Tracking for Inventory ManagementHistory of RFIDAround the 1940s RFID was invented.

The market for RFID is growing at a great speed.According to Grand View Research, “The global radio frequency identification technology market size is estimated to reach USD 40.5 billion by 2025, expanding at a CAGR of 14.7%”.What Are the Use Cases Examples of RFID Solutions?An example of an RFID solution is given below:RFID contains a microchip & this microchip has crucial information.

An RFID scanner can scan multiple wristbands in a single go.What Are the Components of RFID Solution?Antenna, RFID Tag, RFID Reader, RFID tag tracking solution are the components of RFID solution are discussed below in detail.1.

It helps in identifying assets.

RFID ReaderRead data and write into tags.

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Asset Infinity 2021-09-18
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What fixed asset an organization owns and how much it is worth– is mandatory information to fulfill compliance requirements in most parts of the world.

It is absolutely necessary to manage fixed assets to make sure they are accurately insured, maintained regularly, their worth is gauged correctly and write-offs are done in the right manner.

One of the first things that companies need to stop doing is using outdated methods like spreadsheets of managing assets for asset management.Spreadsheets can give inaccurate or old data that can give a distorted picture of the assets that are deployed and involves meticulous planning for flawless execution.

Faulty data can lead to non-compliance or errors in calculating depreciation and insurance costs.With spreadsheets, one can never know if any unauthorized changes were made to the data resulting in inaccurate and unreliable information leading to potential issues like paying more taxes due to wrong depreciation calculations or budgeting less for maintenance.Also Read: The Era of Cloud Computing: Advent of Internet & TechnologyManaging audit trails is another challenge faced by organizations using traditional methods of asset management.

For this purpose, asset tracking techniques are used such as Barcode, QR Code (Quick Response code), RFID (Radio-frequency identification), NFC (Near field communication) IoT (Internet of Things) GPS (Global Positioning System), etc.These asset tracking techniques come in the form of labels and tags which are attached to the asset and each tag contains a unique number through which tracking is done.

Asset Theft AvoidingOne of the main reasons behind physical asset tracking is saving assets from theft.

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Asset Infinity 2021-08-21
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Physical asset management is an important activity that helps organizations in keeping their assets.

Another objective of physical asset management is to better manage asset lifecycle from procurement to disposal.Also Read: How Does Asset Management Benefits Facilities Across an Organization?Making assets efficient is important because assets add value to the organization & they are the backbone of an organization.For What Reason Is Physical Asset Management Important?To comprehend why physical asset management is significant, you need to see how the assets are utilized in the business and improving the assets to capitalize on them before they are decommissioned.The stock should be seen to guarantee it doesn’t run its timeframe of realistic usability prior to being sold.

Gear should be kept up with and adjusted so it doesn’t cause vacation when it breaks.Physical asset management utilizes procedures and cycles that spotlights forestalling these conceivable outcomes while as yet helping your association bring down the complete expense of possession.It is an extremely modern cycle that should be managed by experts who will consistently search for approaches to further develop it.When appropriately conveyed, you will get a drawn-out advantage that impacts your primary concern as well as the wellbeing and dependability of all your actual assets.What Are the Best Practices of Physical Asset Management?Although asset management practices change from organization to organization and from industry to industry.

Keeping track of asset saves from theft and misplacement.Also Read: 5 Reasons Why You Need to Invest in Asset Tracking SoftwareHowever, when you are equipped with asset management software you can easily retrieve information.3.

There are several activities are done precisely then you will notice some improvement in performance either staff or assets.Ensuring that employees are working as per the system.

Take Informative DecisionSeveral businesses do this mistake, which is making decisions based on assumptions, as a result, they do not get the expected outcome and they disappoint.

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0
Asset Infinity 2021-06-03
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The market is competitive and no mistake is affordable.

That is why the automobile industry needs enterprise asset management (EAM) it not only provides several benefits but also provides real-time information that helps managers.In this blog, we will know how asset management helps the automobile industry!

It has all the features of CMMS & other features.According to PS Market Research, “The global enterprise asset management market size stood at $5.5 billion in 2019, and it is expected to reach $25.9 billion by 2030, exhibiting a CAGR of 17.0% during the forecast period (2020–2030)”.How Enterprise Asset Management Is Beneficial to the Automobile Industry?Benefits of EAM (Enterprise asset management) to the automobile industry are as follow:1.

It will lead to not only delayed operations but each asset is precious.With this software, you can make better decisions with real-time data & keep track of every asset in real-time.A manufacturing firm has a lot of inventories & assets that are not only essential.

Maintenance decreases the chances of sudden failure of equipment.Furthermore, rusty parts or broken parts must be removed & new parts are installed otherwise maintenance is not successful.With inventory tracking, the maintenance team can ensure that inventory is available in stock.

When assets are maintained, uptime will increase and downtime will decrease.Also Read: Types of Assets Managed by Enterprise Asset Management in Different Industries3.

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Asset Infinity 2021-10-05
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Maintenance is important for all organizations, especially if pieces of equipment are crucial for daily operations.

Maintenance is an important factor in keeping well-performing and when assets are maintenance their upkeep expenses are controlled.Maintenance plays a crucial role in minimizing asset performance and avoiding asset failure as well.

In this blog, we will focus on reactive maintenance.

Because assets need other resources rather than just in-house maintenance staff.If you want to run a business efficiently obviously you cannot rely on just reactive maintenance, but you can categorize assets into critical and non-critical assets.

Sometimes corrective maintenance identifies and eliminates potential issues.

However, this practice differs from one organization to another.Also Read: A Definitive Guide About Predictive Maintenance Software4.

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Asset Infinity 2021-09-09
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Every organization how valuable equipment maintenance is yet there are still lots of organizations that are not using equipment maintenance.

That is why this software helps in keeping track of each asset for maintenance purposes.This software is also helpful in improving asset performance with calibration adjustments.Also Read: A Definitive Guide About Predictive Maintenance SoftwareWhat Are the Main Trends of Equipment Maintenance?Equipment Maintenance trends are discussed below:1.

When downtime decreases it results in wastage of resources and it hinders productivity especially those industries which are asset intensive such as construction, manufacturing, oil & gas, etc.In order to avoid downtime, it is important to understand why downtime is occurring because of sudden equipment failure which can be eliminated by ensuring schedule maintenance.2.

Accentuating on Proactive MaintenanceProactive maintenance can help the organization in various ways from decreasing maintenance expenses to increasing asset life, from minimizing asset failure chances to increasing production work.Proactive maintenance has been there for a long time, but a lot of organizations do not invest in it thinking that it will be a waste of resources.On the contrary, it can be very beneficial for business.

Increasing Asset LifeWhen equipment is costly then you would like to asset run longer and break down do not occur.

Otherwise, it will be not only expensive repair, but it may impact the overall productivity of the organization and also might slow the process.Also Read: How Do Proactive Maintenance Solution Prevent Inefficiencies?By providing maintenance on time, you would like to increase the life of an asset.

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Asset Infinity 2021-07-17
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They are assets valuable to the organizations that are why equipment management is essential as well.However, equipment needs inventory when they are sent for maintenance as parts are replaced or changed so equipment inventory management is the most critical part of an organization.What Is an Equipment Inventory Management System?The equipment inventory management system helps in keeping track of inventory that is required while performing equipment maintenance.

It lets you know how much inventory is left in the stock so you can plan maintenance accordingly.Sometimes it is seen that everything was planned perfectly but while performing maintenance when you need certain types of inventories it not available or misplaced.It means the whole planning is a wastage of time and maintenance will be performed again.

Know Precisely What You HaveLots of businesses do not know what equipment they have in their inventory.

So, productivity decreases when you do not know, and productivity increases when you know what you have as simple as that.With an equipment inventory management system, you get complete information about your assets and inventories and accurate data as well.2.

Know Precisely How an Asset Is UsedWhen you know what equipment you have then it is also important that you know how pieces of equipment are being used!

Are they used for office purposes only or personal also?These types of questions can be answered easily via an equipment inventory management system.

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Asset Infinity 2021-04-22
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So, without wasting any time let us begin!What Is Strategic Asset Management?Strategic asset management is long-term planning & approach for maintenance and operations in which a long-term plan is made.

In this plan, it is decided, what is the objective of the company, where they want to reach, and what will be the role of asset management in these next few years!Strategic asset management helps in estimating future goals and it helps let you know where you are and where you want to reach in the next 5-10 years.To ensure that strategic asset management works efficiently an asset management software is essential.Also Read: Asset Management Strategies That Can Help Your BusinessAn effective software will enable your team with local area-driven systems, consider the possibility that situation displaying and reporting tools that transform information into guides and objectives into realities.An effective asset management software uses your data and information to give significant bits of knowledge in no time.

This solution assists you with foreseeing the condition of your full asset portfolio into the future; make powerful live information reports that tells data and information stories to partners.What Are the Benefits of Strategic Asset Management?The benefits of strategic asset management are as follow:1.

Optimizing Asset LifecycleSeveral assets are not used to their full potential and the reason behind this is that they are no managed properly.

But with strategic asset management software, managers can manage assets and equipment efficiently and increase asset life.With automated software, you can know when assets were purchased how much asset productive life is left and it will alert you when asset life is about to be over.

In strategic asset management, maintenance is one of the main primaries’ focuses it helps in reducing overall downtime of assets and helpful in increasing uptime.Most importantly, maintenance helps in making the asset more reliable.

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Asset Infinity 2021-11-11
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An organization has lots of aspects to look at in terms of equipment tracking & their time is not utilized productively.

But equipment tracking system helps organizations in minimizing these types of scenarios and increasing efficiency.

For keeping track of assets barcode tags, QR Code tags, RFID labels are utilized.These tags play a crucial role in asset tracking and effective asset management.Also Read: 6 Ways to Improve Your Business with Equipment Management SoftwareWhat Are the Advantages of an Equipment Tracking System?Advantages of the equipment tracking system are discussed below:1.

It can become tedious to absorb full information and work with full concentration.Anyway, how can you deal with these issues?

Industries such as construction & manufacturing have several facilities & often their assets are moved around a lot from one place to another.This is where assets and equipment loss are chances are increased.The best way to avoid asset loss and misplacement is to use the check-in & check-out feature.

It helps in making informed business decisions.ConclusionEquipment tracking is an important aspect of asset management.

Asset Infinity 2021-10-28
img

For asset tracking here there are several asset tracking technologies such as Barcode, QR Code (Quick Response code), NFC (Near field communication), IoT (Internet of Things), GPS (Global Positioning System), BLE (Bluetooth low energy), etc.However, in this blog, you will know What exactly is RFID?

Unlike barcode technology, the RFID tag solution is not required to be scanned in a straight line.Another advantage is that you do not have to scan items one by one, RFID scanner can scan multiple tags at once.Also Read: Pros & Cons of Using RFID Tracking for Inventory ManagementHistory of RFIDAround the 1940s RFID was invented.

The market for RFID is growing at a great speed.According to Grand View Research, “The global radio frequency identification technology market size is estimated to reach USD 40.5 billion by 2025, expanding at a CAGR of 14.7%”.What Are the Use Cases Examples of RFID Solutions?An example of an RFID solution is given below:RFID contains a microchip & this microchip has crucial information.

An RFID scanner can scan multiple wristbands in a single go.What Are the Components of RFID Solution?Antenna, RFID Tag, RFID Reader, RFID tag tracking solution are the components of RFID solution are discussed below in detail.1.

It helps in identifying assets.

RFID ReaderRead data and write into tags.

Asset Infinity 2021-09-30
img

The paper processes were used date back to the 20th century when face-to-face interaction was in more demand to resolve user and customer issues.

The helpdesk used to be a physical location that people would go to for support and the complaint ticketing system was an internal process for managing the requests.

In the 1960s, the concept of telephone call centers was introduced to handle customer service issues, which were supported by Interactive Voice Response – IVR.

What Are the Benefits of Ticketing Management Systems?Here are a few benefits of a ticketing management system that you should know and consider:  Centralized System:As the ticketing system was organized centrally there is no need of hassles through spreadsheets or email inboxes trying to figure out the issues and their resolution processes.Automatic management of tasks:Using the ticketing system to manage the processes like ticket categorization and prioritization, ticket routing, alerts and notifications, and ticket status management will support the agents to spend more time resolving the actual support issues.Better Customer Experience:It will assist in improving requestors’ perceptions for the support experience by troubleshooting the basic steps of agent-assisted support in terms of consistency and transparency along with information, FAQs.Enables Prioritization of Work:The ticketing system enables the requests to get prioritized according to the requirement and difficulty of a query, instead of being handled in the order they are received.Drives Staff Accountability and Training:The ticketing system provides managers with a view into the work of the employees which can help brighten the staff development opportunities.In-Built tracking and reporting:The data created by the software helps to drive the resourcing decisions, process improvement and enable the tuning of support processes to increase customer satisfaction.Read More: 7 Aspects You Must Look While Choosing Asset Management SoftwareWhat Are the Best Practices of the Ticketing Management System?Best practices are the set of methods or techniques that are proven to produce the most efficient result.

After thorough experience and research best practices are considered a standard way of doing something.

Here is a list of ticketing management system’s best practices that you should focus on:  1.

Asset Infinity 2021-09-18
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What fixed asset an organization owns and how much it is worth– is mandatory information to fulfill compliance requirements in most parts of the world.

It is absolutely necessary to manage fixed assets to make sure they are accurately insured, maintained regularly, their worth is gauged correctly and write-offs are done in the right manner.

One of the first things that companies need to stop doing is using outdated methods like spreadsheets of managing assets for asset management.Spreadsheets can give inaccurate or old data that can give a distorted picture of the assets that are deployed and involves meticulous planning for flawless execution.

Faulty data can lead to non-compliance or errors in calculating depreciation and insurance costs.With spreadsheets, one can never know if any unauthorized changes were made to the data resulting in inaccurate and unreliable information leading to potential issues like paying more taxes due to wrong depreciation calculations or budgeting less for maintenance.Also Read: The Era of Cloud Computing: Advent of Internet & TechnologyManaging audit trails is another challenge faced by organizations using traditional methods of asset management.

For this purpose, asset tracking techniques are used such as Barcode, QR Code (Quick Response code), RFID (Radio-frequency identification), NFC (Near field communication) IoT (Internet of Things) GPS (Global Positioning System), etc.These asset tracking techniques come in the form of labels and tags which are attached to the asset and each tag contains a unique number through which tracking is done.

Asset Theft AvoidingOne of the main reasons behind physical asset tracking is saving assets from theft.

Asset Infinity 2021-09-04
img

Technology such as asset management software can play a crucial role in improving the daily operation of the business.Asset management software has been very useful to organizations as it helps improve operations and increase productivity.

However, as technology is improving with that asset management software is also improving.According to Statista, “The global market for fixed asset management software is forecast to grow from 3 billion U.S. dollars in 2019 to 5.2 billion U.S. dollars in 2024.” As the market for asset management software is booming, here are asset management trends.Asset Management Trends For OrganizationsAlso Read: Importance and Best Practices for Physical Asset Management1.

Several organizations utilize this software in order to improve maintenance activities.Maintenance is done for several purposes such as longevity of assets, decreasing maintenance expenses, minimizing asset failure chances.This software focuses on preventive maintenance which means that assets are scheduled for maintenance before they fail.2.

Tracking and monitoring assets are done to avoid asset theft and misplacement.Warehouses are huge, sometimes a lot of time is wasted as employees are unable to find the required inventories.Asset tracking and monitoring software are helpful in providing crucial information such as where the asset is located what is the status of the asset.3.

Ensuring ComplianceIf an organization is not in compliance with the rules and regulations then it can end up paying a huge penalty obviously no organization would like to pay penalties.For example, if during an audit it is found that an organization is using expired software then you will be penalized.Another example is when assets are not maintained then they can lead to catastrophic asset failure, that is why an auditor checks that assets are maintained regularly or not.Also Read: What Are the Next Trends for Asset Tracking System to Consider?This software will alert you when software is about to expire, or asset maintenance is required.

This alert feature comes in handy to different managers in diverse ways.You can also keep a record of bills in the software that will be helpful in ensuring compliance.5.

Asset Infinity 2021-08-21
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Physical asset management is an important activity that helps organizations in keeping their assets.

Another objective of physical asset management is to better manage asset lifecycle from procurement to disposal.Also Read: How Does Asset Management Benefits Facilities Across an Organization?Making assets efficient is important because assets add value to the organization & they are the backbone of an organization.For What Reason Is Physical Asset Management Important?To comprehend why physical asset management is significant, you need to see how the assets are utilized in the business and improving the assets to capitalize on them before they are decommissioned.The stock should be seen to guarantee it doesn’t run its timeframe of realistic usability prior to being sold.

Gear should be kept up with and adjusted so it doesn’t cause vacation when it breaks.Physical asset management utilizes procedures and cycles that spotlights forestalling these conceivable outcomes while as yet helping your association bring down the complete expense of possession.It is an extremely modern cycle that should be managed by experts who will consistently search for approaches to further develop it.When appropriately conveyed, you will get a drawn-out advantage that impacts your primary concern as well as the wellbeing and dependability of all your actual assets.What Are the Best Practices of Physical Asset Management?Although asset management practices change from organization to organization and from industry to industry.

Keeping track of asset saves from theft and misplacement.Also Read: 5 Reasons Why You Need to Invest in Asset Tracking SoftwareHowever, when you are equipped with asset management software you can easily retrieve information.3.

There are several activities are done precisely then you will notice some improvement in performance either staff or assets.Ensuring that employees are working as per the system.

Take Informative DecisionSeveral businesses do this mistake, which is making decisions based on assumptions, as a result, they do not get the expected outcome and they disappoint.

Asset Infinity 2021-07-13
img

You can also do Asset lifecycle management with this software.With the help of this software, you can maintain assets easily and efficiently.

Eliminating Manual ApproachesManual approaches such as pen and paper method or spreadsheet utilization are mainly used by small size organizations.

Pen and paper are prone to error as they can be inaccurate mainly because of human error.The spreadsheet can be accessed by anybody, and data can be changed by anybody intentionally or unintentionally.

It saves time and you do not have to visit the department.Moreover, it provides you to control your assets and manage inventory information from this platform.

Increasing Asset LifeFor small size organizations, money is a sensitive subject and they have limited resources.

So, getting more by spending less is one of the main objectives.Increasing asset life is similar to that, it helps organizations in maximizing asset life from the acquisition to disposal of the asset.

Asset Infinity 2021-06-03
img

The market is competitive and no mistake is affordable.

That is why the automobile industry needs enterprise asset management (EAM) it not only provides several benefits but also provides real-time information that helps managers.In this blog, we will know how asset management helps the automobile industry!

It has all the features of CMMS & other features.According to PS Market Research, “The global enterprise asset management market size stood at $5.5 billion in 2019, and it is expected to reach $25.9 billion by 2030, exhibiting a CAGR of 17.0% during the forecast period (2020–2030)”.How Enterprise Asset Management Is Beneficial to the Automobile Industry?Benefits of EAM (Enterprise asset management) to the automobile industry are as follow:1.

It will lead to not only delayed operations but each asset is precious.With this software, you can make better decisions with real-time data & keep track of every asset in real-time.A manufacturing firm has a lot of inventories & assets that are not only essential.

Maintenance decreases the chances of sudden failure of equipment.Furthermore, rusty parts or broken parts must be removed & new parts are installed otherwise maintenance is not successful.With inventory tracking, the maintenance team can ensure that inventory is available in stock.

When assets are maintained, uptime will increase and downtime will decrease.Also Read: Types of Assets Managed by Enterprise Asset Management in Different Industries3.

Asset Infinity 2021-11-01
img

Therefore, in hospitals, it is the need that all medical equipment is organized and must be in decent shape.

It keeps assets in good condition with the help of preventive maintenance software you can schedule maintenance in advance for each asset.Moreover, it plays a crucial role in boosting the performance of assets.

It minimizes the failure chances of assets.According to the statistics of Markets and Markets, “The global predictive maintenance market size is expected to grow from USD 4.0 billion in 2020 to USD 12.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 25.2% during the forecast period.”Why Is Preventive Maintenance Important for the Healthcare Industry?Preventive maintenance helps the healthcare industry in taking care of assets proactively in terms of medical equipment maintenance.

Money-Saving Approach in the Long TermAs we know lots of hospitals have limited funds & run-on donations so money shall be utilized smartly.

For instance, if an ambulance suddenly stops then it will be a bad situation that can make the patient suffer.That is why keeping assets maintained is important!

Prioritize Each Work OrderEach work order is prioritized and categorized as per the asset utilization and dependency.

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Maintenance is important for all organizations, especially if pieces of equipment are crucial for daily operations.

Maintenance is an important factor in keeping well-performing and when assets are maintenance their upkeep expenses are controlled.Maintenance plays a crucial role in minimizing asset performance and avoiding asset failure as well.

In this blog, we will focus on reactive maintenance.

Because assets need other resources rather than just in-house maintenance staff.If you want to run a business efficiently obviously you cannot rely on just reactive maintenance, but you can categorize assets into critical and non-critical assets.

Sometimes corrective maintenance identifies and eliminates potential issues.

However, this practice differs from one organization to another.Also Read: A Definitive Guide About Predictive Maintenance Software4.

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For startups managing assets and keeping track of them and managing operations is not an easy task.

However, in this blog, we will focus on the lessor viewpoint.

For organizations who take assets on lease or rent, they need equipment rental software that can help these organizations in keeping track of assets and also assist in managing them.

It is helpful to organizations in several ways such as organizing operations, managing assets, streamline processes.It enables the organization to take control of equipment with real-time data assistance and visibility.

Maintenance minimizes the chances of sudden failure and repairing time is also minimized.3.

Because there are many types of maintenance that exist but mainly it can be divided into two categories.

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Every organization how valuable equipment maintenance is yet there are still lots of organizations that are not using equipment maintenance.

That is why this software helps in keeping track of each asset for maintenance purposes.This software is also helpful in improving asset performance with calibration adjustments.Also Read: A Definitive Guide About Predictive Maintenance SoftwareWhat Are the Main Trends of Equipment Maintenance?Equipment Maintenance trends are discussed below:1.

When downtime decreases it results in wastage of resources and it hinders productivity especially those industries which are asset intensive such as construction, manufacturing, oil & gas, etc.In order to avoid downtime, it is important to understand why downtime is occurring because of sudden equipment failure which can be eliminated by ensuring schedule maintenance.2.

Accentuating on Proactive MaintenanceProactive maintenance can help the organization in various ways from decreasing maintenance expenses to increasing asset life, from minimizing asset failure chances to increasing production work.Proactive maintenance has been there for a long time, but a lot of organizations do not invest in it thinking that it will be a waste of resources.On the contrary, it can be very beneficial for business.

Increasing Asset LifeWhen equipment is costly then you would like to asset run longer and break down do not occur.

Otherwise, it will be not only expensive repair, but it may impact the overall productivity of the organization and also might slow the process.Also Read: How Do Proactive Maintenance Solution Prevent Inefficiencies?By providing maintenance on time, you would like to increase the life of an asset.

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If you don’t keep them maintained, the chances of breakdown will increase, and maintenance expenses will increase.Furthermore, your business operations will be hindered as well.

How Does Asset Maintenance Software Help?Asset maintenance management is mainly done to manage the maintenance tasks, maintenance scheduling, maintenance expenses, ensuring that spare parts available are essential.The process of asset maintenance enhances the reliability and safety of physical assets.

This software increases the life of assets by providing maintenance on time and minimizing the sudden failure chances.Also Read: How Chemical Plant Gets Benefits from Asset Management?What Are the Benefits of Asset Maintenance Software?The benefits of asset maintenance software are discussed below:1.

As the manager mentioned, all the activities that need to be done in this way technicians do not forget any activity.This way only effective work is delivered, and productivity level increases as well.Also Read: 7 Aspects You Must Look While Choosing Asset Management Software4.

When you have automated software, this system will alert you about upcoming maintenance and remind you when no action is taken for maintenance work.The reminder is sent through SMS, email, and application notification.

So, technicians and managers do not have to remember manually as this software keeps track of maintenance scheduling and alerts as per the calendar dates.Whenever any work order is assigned to a specific technician then he is notified about the same.5.

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They are assets valuable to the organizations that are why equipment management is essential as well.However, equipment needs inventory when they are sent for maintenance as parts are replaced or changed so equipment inventory management is the most critical part of an organization.What Is an Equipment Inventory Management System?The equipment inventory management system helps in keeping track of inventory that is required while performing equipment maintenance.

It lets you know how much inventory is left in the stock so you can plan maintenance accordingly.Sometimes it is seen that everything was planned perfectly but while performing maintenance when you need certain types of inventories it not available or misplaced.It means the whole planning is a wastage of time and maintenance will be performed again.

Know Precisely What You HaveLots of businesses do not know what equipment they have in their inventory.

So, productivity decreases when you do not know, and productivity increases when you know what you have as simple as that.With an equipment inventory management system, you get complete information about your assets and inventories and accurate data as well.2.

Know Precisely How an Asset Is UsedWhen you know what equipment you have then it is also important that you know how pieces of equipment are being used!

Are they used for office purposes only or personal also?These types of questions can be answered easily via an equipment inventory management system.

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There are lots of tools that help in maintenance management.

This software automatically schedules maintenance so it saves time for managers and they can focus on other activities.It increases assets and equipment lifecycle, as the automated software provides data and it tracks asset life cycle from asset procurement to asset disposal.

It also enables managers to see work order status.

If you want your assets to use for the long term then proactive maintenance must be implemented.According to the 2018 Plant Engineering Maintenance Survey “Predictive maintenance is gaining some more attention.

Reports provide accurate information and assist in making business decisions.4.

This software will alert you about low stock then the responsible person will start refilling stock.ConclusionMaintenance is an important aspect of an organization and when maintenance is neglected business operations suffer.

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So, without wasting any time let us begin!What Is Strategic Asset Management?Strategic asset management is long-term planning & approach for maintenance and operations in which a long-term plan is made.

In this plan, it is decided, what is the objective of the company, where they want to reach, and what will be the role of asset management in these next few years!Strategic asset management helps in estimating future goals and it helps let you know where you are and where you want to reach in the next 5-10 years.To ensure that strategic asset management works efficiently an asset management software is essential.Also Read: Asset Management Strategies That Can Help Your BusinessAn effective software will enable your team with local area-driven systems, consider the possibility that situation displaying and reporting tools that transform information into guides and objectives into realities.An effective asset management software uses your data and information to give significant bits of knowledge in no time.

This solution assists you with foreseeing the condition of your full asset portfolio into the future; make powerful live information reports that tells data and information stories to partners.What Are the Benefits of Strategic Asset Management?The benefits of strategic asset management are as follow:1.

Optimizing Asset LifecycleSeveral assets are not used to their full potential and the reason behind this is that they are no managed properly.

But with strategic asset management software, managers can manage assets and equipment efficiently and increase asset life.With automated software, you can know when assets were purchased how much asset productive life is left and it will alert you when asset life is about to be over.

In strategic asset management, maintenance is one of the main primaries’ focuses it helps in reducing overall downtime of assets and helpful in increasing uptime.Most importantly, maintenance helps in making the asset more reliable.