Asset Infinity's features are helpful in effective asset management. Asset management is an important activity that is done when you have assets in abundance if you do not do asset management your daily operation will suffer.
However, there are lots of aspects in asset management from asset tracking to asset maintenance, from inventory management to keeping assets secured from theft.
So, how will it all can be done in a systematic way? With the help of Asset Infinity's asset management software! In this blog, we will discuss what are the primary features of Asset Infinity software. So, without wasting any time let us begin.
What Are the Primary Features of Asset Infinity's Software?
Key features of Asset Infinity's Software are discussed below:
1. Asset Tracking
Keeping track of assets is the basic need of all organizations as they want to keep track of their assets so that theft & misplacement can be avoided. You can reduce ghost assets and eliminate them with asset tracking and management software features.
Asset tracking not only keeps track of assets but also helps in keeping track of asset records. It increases asset transparency and assists in increasing the return on investment (ROI).
Highlights of Asset Infinity's Asset Tracking Features:
- Location, Department, Employee tracking.
- Accurate check-in & check-out.
- Get alert for discarding assets when productive life is over.
- Asset movement history with assistance tags.
2. Work Order Management
Work order management allows organizations to manage and track their work orders through Asset Infinity's single dashboard. When an organization needs to perform asset maintenance or some activity needs to be done then a work order is created.
With this dashboard, you can check all the information related to work orders such as who is working on the specific dashboard. You can also check the status of each work order.
According to Markets and Markets, “The global work order management systems market was valued at USD 358.2 million in 2017, and is expected to reach USD 694.6 million by 2023, at a Compound Annual Growth Rate (CAGR) of 10.9% during the forecast period.”
Highlights of Asset Infinity's Work Order Management Features:
- Work order creation & assigning to technicians.
- Create a checklist for scheduling maintenance activities.
- Work order cost tracking & consumable used.
- Get a reminder before 1, 2, 3, 4, 5 days activity occurs.
3. Preventive Maintenance
Preventive maintenance is one of the primary features of Asset Infinity. With preventive maintenance, you can minimize the risk of failure & increase security for employees.
It provides maintenance proactively and avoids the sudden breakdown of assets and makes assets reliable. Moreover, it is also helpful in increasing asset life.
Preventive maintenance not only decreases maintenance expenses but also allows you to increase the potential of the asset.
Highlights of Asset Infinity's Preventive Maintenance Features:
- Planned maintenance.
- Define maintenance frequencies daily, weekly, monthly, etc.
- Alert when no actions are taken & escalation when delayed.
- Track pending maintenance activities.
4. Effective Inventory Management
Inventory management can be hectic for organizations especially when there is inventory in abundance. When you do inventory management with the software you can easily do it accurately and efficiently.
Inventory management issues can be extremely dangerous for businesses as a business can lose lots of money. But with Asset Infinity's software, you can manage inventory efficiently.
You can set alerts and reminders when the stock level goes below the defined level. So, stock levels are maintained.
Some warehouses are so huge that employees do not find the required inventory & there is not used efficiently as well.
This software increases the productivity of the employees as they find required inventory within minutes with this software and asset tags.
Highlights of Inventory Management Maintenance Features:
- Add, draw, or move inventory from one location to another.
- Define re-order level for inventory.
- Get alerts when inventory goes below the defined level.
- Maintain a list of inventories such as consumables & spare parts.
5. Asset Auditing
With the help of asset auditing, organizations can verify assets physically. Usually, lots of time is wasted in the asset audit procedure & still, assets are not verified physically & another reason is that an immense size organization has several branches so audits become more complicated.
Highlights of Asset Infinity's Auditing Features:
- Create and assign asset audits based on the categories & locations.
- The mobile app takes very little time to verify assets physically.
- Assets can be marked as present, not present, or present with wrong details.
- Generate reports automatically & export them to excel.
6. Ticketing & Complaints
Organizations have lots of assets sometimes technical or sometimes physical when a problem comes in physical assets then a work order is created after inspection of an asset for technical problem tickets are created.
At the same time, intimation sent by SMS, to the entire user group & user group head assigns the ticket to the available assignee.
With helpdesk ticketing software, ticket detail can be updated & images, videos can be linked. Tickets can be put on hold if they are dependent on an external source.
Moreover, you can link ticket types with priority, locations, and category of assets
Highlights of Asset Infinity's Ticketing Features:
- Ticket generation for asset breakdown, complaint.
- Breakdown records & history & export all history of tickets anytime.
- Record inventory consumption.
- The technician will be notified whenever a ticket is allotted to him.
7. Purchase & Requisition
Create Purchase Requisitions into Purchase Orders directly from approved requests. Purchase requisition and purchase orders are essential for the organization.
As it helps to keep the track of good and expenses employee needs. This process helps in avoiding fraudulent activities in organizations.
Moreover, a systematic approach is taken for purchasing requisition & purchase order management with this software. Whenever any update occurs the employees in the loop are notified about the update.
Highlights of Asset Infinity's Purchase & Requisition Features:
- Convert purchase requisitions into purchase orders directly.
- Check the status of each purchase order.
- Create item requests with multi-level approval workflow.
- Directly add assets into asset register through GR process.
- Block particular vendor if product quality is not as per expectation.
With Asset Infinity's software, you can easily add assets, discard assets. You can also add assets in bulk & get a complete list of assets. There are several types of filters that you can use for better results.
Moreover, you can customize features as per your organization's requirements. In case if you need more parameters, you can easily do it with this software. Other than this, you can get accurately calculate depreciation & create customized reports as per your organization's requirements.
Moreover, this software comes with cloud technology & a mobile application is also there so you can easily manage your assets when you are away from your office. Furthermore, above all mentioned features are extremely helpful in order to stay productive and to grow & optimize your business.
You will save a lot of time and money as well. If you want to gain an extra edge in your business then this is it!
Frequently Asked Questions (FAQs)
1. What Is Asset Management?
Asset management is one of the basic needs of organizations when they have a lot of assets. It helps in asset tracking, asset maintenance & helps in increasing asset performance & when assets are given maintenance on time then it results in increased asset life.
2. What are the benefits of asset management software?
The benefits of asset management software are given below:
1. Increased asset life
2. Decreased maintenance expenses
3. Boost employee efficiency
4. Optimize asset performance
5. Scheduled asset maintenance
6. Accurate asset & inventory tracking
7. Reduced breakdown & failure
3. How asset tags & labels are useful in terms of asset tracking?
We know sometimes assets are not found at the mentioned location. It is because of inaccuracy in data in order to avoid these types of scenarios asset tags and labels are utilized. These tags and labels have a unique identification number which is helpful in keeping track of asset location. Some asset tags provide real-time information that helps in avoiding asset theft and misplacement. Asset theft and misplacement is a common issue that decreases productivity and directly affects the bottom line of the organization as well.