An asset management software enables you to plan your activities that need to be done in a way that productivity can be increased and let you know the performance of each asset individually. Lots of organizations have issues in maintenance management because they have huge facilities and there are several buildings as well.
It lets you know all the asset information about the assets in each facility. You can get information about where they are located what their current condition is.
Each facility has lots of machines and equipment that need maintenance regularly. However, it becomes hectic as there are lots of assets that need to be tracked properly & one person cannot do it alone that is why asset management software is essential.
With this software, you are capable of not only keeping track of assets but also keeping track of inventory as well. You will get alerts for maintenance & you can schedule maintenance easily!
When assets get maintenance on time it leads to increased asset life and chances of sudden asset breakdown also decrease. Moreover, along with asset management software, there are facility management trends that you can follow to improve your business productivity more.
In this 21st century technology, we have come a long way in term of technology and we can do a lot of things we were not able to do a few years back. Similarly, in asset management, we were using a manual process but now it is automated.
We know technology is continuously evolving and there are new developments that have been made! What are the main facility management trends that we will cover in his blog! So, let us begin.
What Are the Facility Management Trends That Can Increase Efficiency of the Organization?
Facility management trends that can increase the efficiency of an organization are discussed below:
1. Use Remote Monitoring
In 2021 during the corona when we were all sitting at home remote work management was in trend. Similarly, for asset management purposes remote monitoring was very effective and helpful.
Through remote monitoring, Ecological and wellbeing checking boundaries for empty structures incorporate water entrance and flooding identification, temperature, moistness and dampness, the assurance of resources and products just as entryway and window openings.
2. Asset Tags & Label Utilization
Asset tags and labels are very useful for organizations. It provides an accurate asset location through which you easily know where the asset is located.
Moreover, you can know several other information such as who is using it when it was last used and when it will be returned or when its maintenance is due! It helps keep track of assets.
These asset tags are attached to the assets and all information of asset and inventory tags is stored in the software. Asset tags help in identifying assets individually.
These tags come in various asset tracking technologies such as Barcode QR Code, RFID, NFC, GPS, BLE, IoT, etc. It provides several other benefits as well such as inventory control, real-time location, preventing theft, history related to maintenance or purchase, depreciation value, and so on.
Also Read: Why Should I Use an Asset Tracking System If I Already Have Fixed Asset Accounting in My ERP?
3. Implementing Maintenance
One of the most important factors which is an evergreen trend for facility management is facility maintenance. When every piece of equipment is working well then employees are happy & when the work environment is good, they are happy and do not get frustrated.
According to a study by Warwick University, “Happiness makes people more productive at work, according to the latest research from the University of Warwick. Economists carried out several experiments to test the idea that happy employees work harder. In the laboratory, economists found happiness made people around 12% more productive.”
That is why all assets, machines, and equipment must be maintained, so that failure does not occur as it can impact productivity.
4. Asset Security
Security does not mean only mean to keep assets secure from asset theft and misplacement. It also means that employees are secure health wise & they do not get any injury due to any asset problem.
In the facility, there are so many assets that are no longer coming into use, and they can release dangerous gas which can create health issues.
According to Construction Dive, “Construction Jobsite theft costs the industry up to $1 billion each year and US businesses spend more than $170 billion annually on work-related injuries.”
That is why it is important to keep track of assets and with this software, you can keep track of asset health. Asset management software saves assets from theft and misplacement.
5. Reports-Based Decision
Reports help find essential information to make business improvements. Reports can enhance efficiency and productivity.
It has crucial information which helps top management in making crucial business decisions. You can also find areas where improvement can be made.
Reports include data about asset tracking, maintenance is done, inventory utilized, and other expenses. So, asset management reports can give a future estimate of expenses so you can prepare accordingly.
Facility management is not a simple task, that is why it is important to implement technology for managing facilities. For that reason, facility management trends are very helpful as we have discussed above.
As we all know automated software helps in managing assets efficiently. It keeps assets safe and secure from theft and misplacement.
Assets are maintained which helps in keeping assets optimized and productive. If you want to grow your business and save the organization from unnecessary expenses and emphasizing facility management trends along with facility management software is essential.
Frequently Asked Questions (FAQs)
1. What are the benefits of asset management software?
The benefits of asset management software:
1. Asset tracking
2. Enhanced asset lifecycle
3. Asset utilization
4. Ensure regulatory compliance
5. Eliminate ghost assets
6. Theft prevention
7. Fast & Effective audit
2. What are the assets in a facility & how asset management is done in facility management?
In the facility, there are assets such as HVAC, light, vehicles, laptops, printers. These assets need to be maintained. They need to be tracked properly otherwise assets will not work properly, and it can lead to decreased productivity.
3. Does this software come with cloud technology?
Yes, asset management software comes with cloud technology as well. With cloud technology, you can access software from anywhere across the world and data security is also provided by a cloud service provider.