Choose the Asset Management System

Use the right asset management system

Assets are items, things, or entities that have actual or potential value to the company. Asset management coordinates the company's activity to realize value from assets. It includes the balancing of costs, risks, and opportunities against the desirable performance of assets. For achieving the objectives, this balancing should be considered through different timeframes.

Asset managers need to make the right decisions that will allow optimizing the delivery of value from assets. A common objective of most companies is minimizing the costs of the assets, but there are other decisive factors such as risk, that should be considered in the making decision. The right hand-picked asset management system will help you and your managers to make the right decisions.

How to choose the right computerized asset management system offered on the market?

Questions you need to consider before start choosing the asset management solution:

  • Is asset management important for your company? 
  • Who in your company will take care of the asset management? 
  • Why is your company looking at the asset management system? 
  • What are you going to track? 
  • What is your long-term plan for asset management? 
  • What are your expectations from the computerized asset management system? 
  • Do you expect the vendor's help in implementing the software solution into your organization? 
  • Have you defined your company’s basic technological needs? 
  • Have you defined the critical features your company requires? 
  • Have you defined your budget? 
  • Are you expecting the customization from the asset management system? How customizable should it be? 
  • Do you need the asset management system will integrate with other software systems used by your company? 
  • Will your staff need special training or consultations from the vendor?
 asset management solution

After you answer all of these questions, you may start to discover which from offered on the market the asset management software systems meet your requirements the best. Choose a few software providers offering asset management solutions that can help you to solve your problems. Contact the current clients of selected software companies, to ask them about their opinion of the used asset management system, its simplicity, implementation, security, mobility, reliability, and support.

Questions you should ask your potential vendor:

  • Does your system allow you to set up access categories to give access rights to specific asset types? 
  • Do you provide the implementation and support of your system? 
  • Do you recognize payment by installments?