Asset maintenance is a key component of asset management. It helps curb expenses and enhance savings. The best way to ensure that your assets is in working condition at all times is to use an asset maintenance system. In this article, we tell you why.

Maintain an asset register

Several businesses continue to use spreadsheet software to manage their inventories. While those tools can categorically store data, they are not designed for asset maintenance and management. Asset registers are dynamic. There are various parameters that keep changing, and that is difficult to track when you use spreadsheets.

 

Asset maintenance systems can comprehensive record and maintain an asset register. They allow you to record various details such as asset acquisition date, price, current value, depreciation, location and the personnel responsible for the asset. An up-to-date asset register helps you accurately view and maintain assets in a timely manner.

Tag assets

After creating an asset register, it is important for companies to track the changes in their assets. Manual asset management methods like paper-based tools or spreadsheet software require companies to physically inspect assets. This is not only laborious, but is also highly prone to errors. Furthermore, it is immensely time consuming when the time for auditing arrives.

 

Asset maintenance software solutions can print barcode tags, NFC tags and RFID tags. They can be stuck on assets for seamless tracking. So the next time your asset changes location, goes for service, breaks down, or gets replaced, the software automatically picks up the information via the tags.

Create maintenance schedules

It is the goal of every business to ensure that their assets last for as long as possible. To achieve this motive, it is crucial to have an effective maintenance plan in place. Most companies rely on reactive maintenance. Troubleshooting asset issues in that way is extremely costly and causes a lot of operational delays. 

 

Asset monitoring software solutions facilitate preventative maintenance. Using them, you can create custom maintenance plans for every asset in your inventory. So as you service assets by following a routine schedule, you will be able to detect asset failures even before they occur. Ultimately, you save a lot of money and time.

Create service checklists

Preventative maintenance helps companies avoid expensive fixes down the line, provided it is carried out properly. Each asset type in an organization’s inventory requires a unique type of care. Using the same maintenance strategy of one type of an asset for another will not yield good maintenance results.

 

Asset maintenance software solutions allow you to create service checklists. For each type of asset in your inventory, you can draft up a comprehensive checklist. As a result, whenever your assets are sent for maintenance, your employees will inspect the assets according to the checklist. This prevents maintenance oversights and improves asset reliability.

Log service history

The best maintenance on an asset is carried out when there is sufficient knowledge about the asset. By knowing the service history of an asset, companies can gain a better idea of how to inspect and maintain the asset. Recording service logs manually is a tedious task, especially when a large number of assets are undergoing service. 

 

With an asset maintenance system, you needn’t worry about manually logging every service task. The software does it automatically for you. This helps you accumulate a complete service history of your assets. And this will be of immense use when you want to perform future maintenance or if you want to sell your assets.

Receive maintenance notifications

Even though companies have a comprehensive maintenance schedule in place with detailed checklists, they can still tend to forget to service their assets. This is a leading cause for steep depreciation of assets and premature expiry. The best way to keep tabs on fast approaching or pending service schedules is to make use of notifications.

 

You can set up custom notifications using asset maintenance software solutions. These tools are equipped to send you audio visual alerts either through SMS, e-mail and/or in-app notifications. This feature helps you stay ahead of maintenance tasks and adhere to service schedules.

Get comprehensive insights

Another efficient way of deploying a result-driven maintenance strategy is to gain insights into how an asset is used. This involves consolidating asset data, processing them and extrapolating them into reports and analytics. Performing this manually is immensely time-consuming and prone to a lot of errors.

 

Asset maintenance systems automatically generate comprehensive reports. They contain information on what asset is most frequently in use, what assets are in use the least, what assets incur the most maintenance costs and more. This information will help you optimize your maintenance strategy for better ROI.

Conclusion

If you’re looking to improve the longevity of your assets, then SmartAMS is the best solution. It is a world-class asset maintenance system from SmartPoint. It contains the latest features, is cloud-based, secure and easy-to-use. Visit their website for a live demo of SmartAMS today.