Be it airports, bridges, harbors, roadways or any other transportation asset, all of them deteriorate and depreciate in value over time. Their values and conditions plummet more steeply when an inefficient asset management system is used. 

 

Transportation assets require extensive management. Each management process must be streamlined in a linear workflow. It helps enhance the value of transportation assets. On the contrary, carrying them out in silos will only lead to a plethora of problems. 

 

The use of traditional asset management methods like spreadsheets is not only fashioned but is also ineffective for today’s applications. It does not possess automation, notification and integration features. Moreover, they are prone to a myriad of errors like typos and are immensely cumbersome to use. 

 

So how do you achieve a great asset management workflow? Invest in a tool that is built for managing modern transportation assets. That tool is a transportation asset management software

What is asset management?

Asset management is the process of overseeing assets to make sure that they are used optimally, are in good condition, and are used judiciously. It involves tracking, maintaining, allocation and disposal of assets. The results of asset management rely on the quality of the asset management strategy that is used. 

Features of transportation asset management software

In order to make the best, result-driven asset management decisions, transportation asset management systems offer you a great deal of cutting-edge features. On using them, you can gain full control over all your assets from a single and centralized software application. These features are notably simple-to-use but have the potential to boost your business in many ways. Let’s take a look at each of them one by one.

Approval management

Purchasing an asset requires the consideration of many important individuals like stakeholders and managers in an organization. With the software’s approval management feature, the process of procuring assets is streamlined. A new asset can be requested on the software, and thereafter the administrative team can review the request for either approval or rejection.

Inventory tracking

It is cumbersome to manually track various asset parameters. With a tracking software on the hand, it is not only easier but is also free of errors. Asset management systems enable you to conduct elaborate, cost-effective audits of assets using tracking technologies like GPS and barcode scanners. The software displays crucial asset-related data like location, depreciation value and asset condition status in real-time.

Maintenance management

Ensure that your assets are well maintained by setting up a comprehensive maintenance schedule. Transportation infrastructure asset management software solutions allow you to pre assign maintenance personnel so there’s little confusion and downtime when the task needs to be carried out. Based on the maintenance schedule, the software solutions are equipped to send you notifications via SMS and in-app alerts.

Compliance management

Compliance issues can result in extensive downtimes and expenses. However, with a transportation asset management software, all your assets will stay compliant with the latest regulatory norms. The software automatically scans its database, checks asset parameters and drafts the required compliance annexures. Should any discrepancy arise in the process, the management system will notify you about the problem.

Reports & insights

Transportation asset tracking software solutions do more than just collecting and tracking data in real-time. They are also built to process all the information in its database into valuable insights. It can auto generate reports that reveal trends on your expense, overall asset health, profits and more. These insights can be used to optimize your asset management strategy. 

Benefits of using a transportation asset management software

With the powerful system in your hands, you can expect to see the value of your assets shoot up in no time. Here are some major benefits of investing in the right transportation asset tracking system.

 

  • Improve asset life cycles
  • Reduced expenses
  • Increased savings
  • Enhanced operational efficiency
  • Elimination of errors
  • Strategic and informed decisions
  • Improved returns on investments

 

Conclusion

Make result-driven investments and use comprehensive insights for greater cost-effectiveness. Transportation asset management software solutions helps you keep your infrastructure in good condition, develop an incredible capital improvement strategy and curb the costs of operating assets. Get SmartAMS. It is the best, easy-to-use, reliable and secure transportation asset tracking system from SmartPoint. Contact them to book a demo today.