Organisations throughout the United Kingdom are constantly charged to do more with less and slash spending. While investing in asset management software may seem counterintuitive when you’ve been asked to cut costs, doing so could be one of the smartest decisions you’ll make this year. Why? Because asset management software can help you make even more smart decisions, day-in, day-out.

With asset management software, you can effectively monitor and track each asset under your care. For example, if you are responsible for equipment maintenance, use the software for equipment maintenance tracking, planning scheduled maintenance, and implementing predictive maintenance into your department. From cranes and lifts to forklifts and pallet jacks, each piece of equipment will have its own scheduled maintenance schedule. As a result of equipment maintenance tracking, your entire fleet of heavy equipment will be on track to be serviced on time, every time.

You can also use asset management software to implement a predictive maintenance program where equipment is proactively monitored for signs of pending problems. By catching the warning signs before the problems manifest, you can slash repair costs dramatically as well as boost the total cost of ownership for each asset.

When the time comes to sell or replace equipment, the data amassed in the asset management software will once again prove useful. By implementing equipment maintenance tracking, you can quickly and easily calculate the total cost of ownership for each asset (Source: http://emaint.eu/equipment-maintenance). Factors such as labour hours, replacement parts, and service-related materials can be included in your calculations, allowing you to determine which makes and models are the most reliable and best value for the money. As a result, when you need to replace an asset, you can make a more informed buying decision.

Using asset management software in a maintenance environment facilitates better decision making based on solid service histories and data. It also allows you to stay on track with both preventative and predictive maintenance strategies. Best of all, cloud-based asset management software exists, moving your investment away from a capital expense and into your operations budget.