Wednesday, November 13, 2013

Remedying Pain Points In Asset Management With The Use Of The Right Tools

Remedying Pain Points In Asset Management With The Use Of The Right Tools


The needs of a business in one industry will vary greatly from the needs of a business in another industry. Certain departments in some organizations have unique needs that cannot be adequately met with a one-size-fits-all solution, as powerful as they may be, like the Agresso Cloud.

Take the case of those engaged in asset management. The tools, practices, and strategies utilized in this field will definitely differ from those used by professionals in the field of human resources.

Among the unique problems faced by those who manage their own or another party's assets are asset maintenance, inventory management, contract management, the allocation of resources, regulatory reporting, invoicing, and communication with the mobile workforce.

When looking for a tool that will answer these demands, one of the most important functions that the tool should provide is access to information that is readily available both for office-based workers and for those out in the field. In turn, this will allow those who are tasked with meeting with the clients to respond promptly to customer expectations.

The software used by those who manage assets should also help improve the use and efficiency of field workers. This can be done in many ways, including the elimination of delays in locating resources near a service need; identification of the location of mobile workers as well as the activities they are engaged in; and increased productivity among mobile workers through access to the same tools and applications used by their office-based counterparts.

Other areas that also need great focus include procurement and stock management, coordination with HR, and performance management. In procurement and stock management, the employees as well as their managers need to have a good view of the stock levels, allowing them to make timely new purchase orders.

Additionally, the goals of price visibility as well as maximizing bulk purchasing can be met with proficient handling of discounts and rebates.

Clear communication and information sharing with those in HR allows for the deployment of staff members who are fit for the job.

Finally, in performance management, managers need to have a bird's eye view of various aspects of a business's operations both asset maintenance and field service which allows them to see bottlenecks to introduce measures to counter these.

The key to achieving these goals and resolving these problems is to democratize access to information in the most cost-efficient way that can be realized through the use of the right software.

In conclusion, the diversity of needs across different industries and departments within organizations underscores the importance of tailored solutions. Asset management, in particular, presents unique challenges that require specialized tools and strategies.

From asset maintenance to inventory management and regulatory reporting, addressing these demands necessitates software that facilitates seamless communication and efficient resource allocation.

A comprehensive asset management solution should empower both office-based workers and field staff with access to real-time information, enabling prompt responses to client needs. Moreover, optimizing field worker productivity through tools for resource location and activity tracking is essential for operational efficiency.

Procurement and stock management, coordination with HR, and performance management are additional areas that require careful attention. Effective stock level monitoring, streamlined procurement processes, and strategic HR deployment contribute to overall organizational success.

Ultimately, the key to overcoming these challenges lies in democratizing access to information through cost-efficient software solutions. By investing in the right tools, businesses can enhance collaboration, streamline operations, and drive performance across all facets of asset management.

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