6 Benefits of Asset Management

Asset Management

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The worth of assets of your organization can be estimated in measured in money hence a management tool to keep them on track is very worth.

Another Asset management benefit is that it helps in generating money, whether you’re a small business owner or a major corporation’s resource manager.

MIRAT is the latest modern and automated entrant in the field of ITSM and offers flexible insights on asset management uses.

We’ll go over six main benefits of IT asset management software in this guide:

  1. Improve resource register, asset discovery, and service inventory accuracy.

  2. Control expenditures and Keep track of assets

  3. Ensure compliance

  4. Real-time asset tracking

  5. Maintenance strategy

  6. Generate more sales income

Improve Asset Register, Asset Discovery, And Asset Inventory Accuracy:

You should be able to view your assets and should be able to access them too from anywhere.

This is one of the primary reasons why enterprises and start-ups should invest in themselves via this software. You should have on-point information on what your resources are being used for, how many are there, and when they should be refurbished.

This criterion is sometimes referred to as an Asset Register, Asset Discovery, or asset inventory management system in the asset performance management sector.

Still, wondering what the IT asset management benefits are? You can do the following with the information you have:

  • Find out whether any of your belongings have been stolen or misplaced.

  • Recognize which of your resources require maintenance or replacement.

  • Conduct effective asset audits

  • Maintain service cost control.

  • Competitive edge with software asset management which shows your business as an effectively managed one. Operational expertise can be shown off.

MIRAT  is designed to execute efficiently and collaborate minute to high-end details in one go.

Control Expenditures And Keep Track Of Assets:

The list is extensive, but the basic principle is that we cannot govern our assets unless we know where they are.

  • When you buy assets, you should keep track of the costs.

  • Depreciation charges are calculated as assets are used.

  • Keep track of your assets’ ongoing costs, such as maintenance, servicing, and consumables.

  • Costs of disposing of your possessions

  • Asset Accounting’s Unknown Benefits

While most businesses utilize enterprise asset management for balance sheets and tax purposes, there is a hidden benefit (sometimes overlooked): using asset accounting data to build customer relationships.

To have an elaborated view consider the following example: By getting the asset depreciation quantitative data, maintenance costs, and servicing costs at one go, you can determine the number of times your assets have been serviced.

Why Is This Bit Of Information Important?

You can earn your customer’s trust by sharing with them a complete portfolio of your asset. This kind of information sharing will depict your enterprise as a well-managed one.

More Honey for the Money: Asset Accounting Data Can Help You Get Better Deals.

To Ensure Compliance

  • Most businesses seeking asset lifecycle management also want to make it easier to comply with external and internal compliance regulations.
  • Your enterprise would need a report creation platform so that your auditors and your employees can track the assets in use and their compliance depositions.
  • Asset Discovery management also keeps in check the external compliance policies of the asset, which includes service level compliance mainly for customers and users and software license compliance.
  • Service level agreements include the services being agreed upon, PAS55 compliance, tax compliances, and the health + safety of the asset.
  • Service and Usage Compliance are the most common types of internal compliance.
  • Sharing your compliance reports with your customers is another inventive strategy to enhance your engagement with them (if possible).
  • When used in your enterprise, MIRAT makes sure all your organizational compliances are met with ease.

Real-time Asset Tracking

  • The first is physical location tracking, which is typically utilized for mobile assets. Today, barcodes, Radio Frequency Identification (RFID) systems, and Global Positioning Systems (GPS) are some of the most modern and latest technologies to track the asset’s physical location.
  • Physical tracking is used to guarantee that things are delivered on time, plan routes, and keep track of moveable assets.
  • The second aspect of Asset Tracking Software is determining where the asset is in its lifecycle.
  • The lifecycle of assets in the servicing stage, assets in the replacement stage, assets in the disposal stage, assets inside and outside the premises, and so on are included in the tracking. This second element is more suitable for businesses with thousands of assets or assets worth a lot of money.
  • Asset Lifecycle Stage Tracking is a sophisticated report that can be used to determine overall asset performance, total asset downtimes, and, most importantly, build trends.
  • You might be away for the day but MIRAT keeps you in the loop with updates and reports.

Maintenance Strategy

Benefits of Asset Management

Asset maintenance is divided into two categories:

  1. Your Assets’ Servicing or Maintenance
  2. Assisting customers with the maintenance of their assets, as well as assets that you have leased, rented, or sold

There are numerous various advantages of asset management:

  1. Extend service life,
  2. Maintained resource performance
  3. Asset maintenance aids asset depreciation or appreciation,
  4. Asset maintenance assures adherence to health and safety regulations, and asset maintenance ensures adherence to compliance policies.

Asset managers can utilize the Asset Management Strategy to reduce downtime and/or increase operational efficiency by keeping track of maintenance dates and tenures.

The major benefit of employing the software (with a maintenance module) is that it will tell you when and where your resources were serviced, as well as how much it cost you, with only a few clicks. In most circumstances, the program can also easily notify you of upcoming maintenance schedules.

There are two major benefits to using the software for customer support or help desk software:

  • Customer service/help desk agents will be able to log calls/support procedures against an asset as well as a customer.
  • Convenience is at your fingertips which enables you to service your customer whenever needed. You can compile reports for your customers and maintain the connection with them.
  • It will be simple to determine the level of support necessary for various resources – this information may be utilized for warranty contracts, product development, support charges, support staff capabilities, and a variety of other purposes.

Generate More Sales Income

This Software is a valuable source of information and a framework for gaining a competitive advantage and increasing profits.

Keeping the first 5 Reasons in the loop will contribute 2% towards your bottom line. But this software can improve your sales by 10%.

Mirat.ai’s IT Infrastructure Management is Affordable & Easy to use! Get your Dashboard ready in only 5 Minutes. Request for Trial/Demo now (or) Contact our Team Now.

Contact Information:

Sales Executive
Phone: +1-315-636-4213
Email: sales@mirat.ai
Website: https://www.mirat.ai/

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