The art gallery has sceneries, artworks are one of the biggest assets of art galleries other than these assets, they also have equipment considered as assets. But they need to be maintained. However, when there are lots of assets are there it's become quite an exhausting job! This is where asset management software for the art gallery come into use!
What Is Asset Management Software?
Asset Management provides a holistic approach to create, work, keep up, update, and discard assets in the most cost-effective way including all costs, risk, and performance attributes.
Though an asset management software is an application utilized for recording and monitoring an asset life cycle, from procurement to its retirement.
Asset Management Software is utilized to monitor the inventories, equipment gadgets, and programming with their life-cycle.
It also provides an alert and notification feature that allows you to work freely without thinking about inventory life. This software permits to set a limit for inventory whenever the inventory goes below that level, it will alert the inventory management team.
In the same way, asset management software work to maintain assets. You can set a timer (schedule maintenance) after that it will & notification alert the maintenance team via e-mail, message, and notification about the specific asset maintenance.
It provides real-time information of assets that can be very helpful especially for art galleries. The software enables the team to tag assets with asset tracking technology. It is very helpful in providing real-time asset information. Moreover, it also saves the asset from theft and misplacement.
According to the report published by Markets and Markets
“The Asset Management System Market is projected to grow from USD 16.8 billion in 2020 to USD 27.4 billion by 2025; it is expected to grow at a CAGR of 10.3% from 2020 to 2025.”
The development of the asset management system market is driven by decreased asset downtime, increased asset performance, and ideal asset usage necessities of resources.
What Are Asset Management Tips Helpful to the Artwork Industry?
Asset management can be helpful to the Artwork industry in various ways:
1. Ensure Every Asset Is Labelled
Assets are the source of generating revenue or they are helpful to an organization. Asset theft is a very common and major issue and the art industry is also aware of it.
We know galleries have lots of precious artwork, archives, paintings, and sculptures. To keep these assets protected every asset must be labelled with asset tracking technology. This activity will keep your asset secured and saved from asset theft or misplacement.
Asset tagging an ideal answer for exhibition halls and galleries searching for a concrete method to ensure and secure their important assets and work of art.
2. Different Tags for Different Assets
When you use asset management software, make sure that all assets are tagged with an asset tracking tag. For this purpose, you can any of the technology available such as barcode, QR Code (Quick Response code), RFID (Radio-frequency identification), GPS (Global positioning system), Internet of Things (IoT).
All these asset tracking technologies shall be used for effective work. For example, the barcode can be used for assets that do not move such as HVAC (Heating ventilation air conditioning). For asset move from place to place, you can use GPS technology as they provide real-time location of the asset.
This practice will keep your asset location known all the time. The real-time tracking can let you know exactly where the asset is, update location with precise timing as well & logs are entered for each event.
3. Collect Data with Asset Tags Information
With the help of tags and asset management software, you can collect lots of data which can be very helpful in growing business. There are several art galleries which tie wristband on visitors & patrons.
These wristbands let the management know where visitors are spending time. Wristband track the location of visitors. According to this collected data, you can place painting & artwork at the place where it is more visible or catch more eyes.
Data can provide information such as which is your most engaging artwork and this information can help in increasing sales.
4. Digital Asset Management for the Bigger Audience
Art galleries have very limited reach to the audience but the internet provides a platform for art galleries to grow their reach. Digital asset management allows updating pictures and videos of artwork.
Portals permit our exhibition hall clients to curate their assortments, also locate the significant metadata that goes with the asset.
5. Keep Track of Maintenance and Restoration
When assets are tracked, they help keep maintained as we know paintings are done in several ways with oil so they need to be maintained otherwise it will be of no use. Some artwork so vulnerable they need to be restored and when they are gone for maintenance this software keep track of them.
You can set alerts and notifications so that you do not forget when maintenance & restoration work is done. This feature comes in handy when there is a lot of maintenance & restoration work to do.
These tips are very important that can help art work, exhibition in growing business. The time has for art galleries and the museum industry to shift towards digital asset management.
Asset management for an art gallery is very important and asset tags play a crucial role in effective asset management for the art gallery. If asset tags are used in the correct way it can be a very effective tool.
Asset management is one of the best tools for art galleries as it can keep track of assets and provide security to assets.
Frequently Asked Questions (FAQs)
1. What Is Real-Time Location Tracking?
Real-time location tracking is used to identify the location of an asset or any type of entity in real-time. It gives an update in every 5-10 seconds. The tags are used in real-time asset tracking.
2. What Are the Advantages of an Asset Tracking System?
The advantages of an asset tracking system are as follow:
1. Streamline daily operations
2. Maintenance scheduling
3. Minimize maintenance expenses
4. Asset safety
5. Increase productivity
6. Asset and inventory tracking
7. Extending asset life
8. Better resource allocation
9. Effective auditing & quick physical verification
10. Ensure regulatory compliance
3. What Is the Role of Maintenance in the Art Industry?
Maintenance is very important for the art industry especially if the artwork is vintage. Some artist refers to it as extending the warranty. Some sculpture work can react with the environmental conditions so that sculpture needs to be maintained otherwise originality will be lost. These sculptures might be created from iron, bronze, or some other metal.