Wednesday 13 November 2013

Remedying Pain Points In Asset Management With The Use Of The Right Tools

The needs of a business in one industry will vary greatly from the needs of a business in another industry. Certain departments in some organisations have unique needs that cannot be adequately met with a one-size-fits-all solution, as powerful as they may be, like the Agresso Cloud.

Take the case of those engaged in asset management. The tools, practices and strategies utilised in this field will definitely differ from those used by professionals in the field of human resources.

Among the unique problems faced by those who manage their own or another party's assets are asset maintenance, inventory management, contract management, the allocation of resources, regulatory reporting, invoicing and communication with the mobile workforce.

When looking for a tool that will answer these demands, one of the most important functions that the tool should provide is access to information that is readily available both for office-based workers and for those out in the field. In turn, this will allow those who are tasked with meeting with the clients to respond promptly to customer expectations.

The software used by those who manage assets should also help improve the use and efficiency of field workers. This can be done in a number of ways, including: the elimination of delays in locating resources in close proximity to a service need; identification of the location of mobile workers as well as the activities they are engaged in; and increased productivity among mobile workers through access to the same tools and applications used by their office-based counterparts.

Other areas which also need great focus include procurement and stock management, coordination with HR, and performance management. In procurement and stock management, the employees as well as their managers need to have a good view of the stock levels, allowing them to make timely new purchase orders. Additionally, the goals of price visibility as well as maximising bulk purchasing can be met with proficient handling of discounts and rebates.

Clear communication and information sharing with those in HR allows for the deployment of staff members who are fit for the job.

Finally, in performance management, managers need to have a bird's eye view of various aspects of a business's operations pertaining to both asset maintenance and field service which allows them to see bottlenecks in order to introduce measures to counter these.

The key to achieving these goals and resolving these problems is to democratise access to information in the most cost-efficient way that can be realised through the use of the right software.

Do you have have any questions or suggestions? Write in comment section.

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