4 Tips To Choose The Best Asset Management Software For Your Business

As a company experiences growth, the number of assets grows as well.  These assets become a lot more difficult to manage with a simple pen and paper or a spreadsheet-based system.  

Organizations experiencing this challenge know that a Smart asset management system is key to managing their assets more effectively, but selecting the best one could be a daunting task with all the options out there.  This article will help make that selection a lot easier.

Here are four tips for doing just that.

Set Objectives And Expectations

The first tip in this guide is to know your organization’s requirements.  What do you want to accomplish with the Asset tracking system you’re looking to purchase?

Do you want to be able to track your assets from anywhere and on any device, including mobile?  Do you want to use specific tracking technology other than barcodes, like RFID tags?  Or perhaps you also want to track asset depreciation, aside from their movements throughout your organization?

Knowing your company’s needs could help you determine which features of the Smart asset vending system matter most to you, allowing you to make the best decision when choosing from many options out there.

Arrange meetings with your staff, and brainstorm with them.  By the end of the session, you should have a list of all the short-term and long-term objectives you came up with as a team.  Doing so gives you a clear view of the concrete results you would want to see upon purchasing the Asset tracking solution.

Establish A Budget Before Comparing Prices

Whatever your decision is, it all circles back to the cost and the bottom line.  Most likely, you’d be placing importance on the benefits you’re expecting to get for a reasonable investment.  So, after determining what your company wants out of an IT asset tracking solution, the next step is to come up with a budget.

Pricing is almost always dependent on the number of features or the magnitude of its effects.  So make sure that whatever you need matches what the vendor offers.  This helps you avoid paying for features you won’t need.

After establishing a number your company is willing to spend on an IT asset management system, the next thing to do is compare prices from several vendors.  Understand which features are included and which ones are not.  If a feature you need is missing, don’t hesitate to communicate this with the provider.  They might already be working on that missing feature you’re looking for.

Make Sure Of Software Compatibility

The Smart asset management package you’re looking to purchase must be compatible with your organization’s systems.  You don’t want to end up using two different platforms.  Your existing systems and the IT asset management solutions must be able to talk to each other seamlessly.  

For example, you should be able to sign in to a single platform to access both the Hardware asset management system and your ERP system.  Check with the vendor’s representative if the software has API integration.  This is a surefire way to determine whether it can be easily integrated with other systems.

Another thing you should consider regarding compatibility is to make sure that the smart enterprise asset management system can run on the operating systems of the computers across your organization.  The whole point of having a Smart asset and inventory management is to ensure that every person responsible for asset management goes through the system whenever they sign in or retrieve assets.  

A single computer that cannot run the software because of OS compatibility issues takes it out of the system and defeats the purpose of having an Asset lifecycle management like Teqtivity. And concerning this, make sure that your company’s current hardware has adequate specifications to run the smart asset management software successfully.  If some units are older, consider upgrading their parts like RAM or storage or replacing them.

Take The System For A Test Drive

It’s now common for vendors to let prospective buyers sign up and try out the system for a certain period, so make use of that.  Bring in different people involved in asset management to try it out, so you can pull from different perspectives when the time comes to select the best Smart asset management system out of the options you’ve tested and narrowed down.

These demos help customers understand if the platform works well according to their expectations and gives them a preview of how their staff will be able to interact with the system, which then helps them gauge the user-friendliness of the smart asset management software.

Conclusion

While selecting the best asset management system can be time-consuming and taxing on decision-making willpower, following the tips outlined in this post should help ease the burdens and make the whole process worthwhile.  

By following these tips when speaking with a representative, you place yourself in a much better position to get the biggest bang for your buck.