Automated equipment management software can do multiple equipment management tasks with or without human intervention. Equipment management software is helpful to lots of organizations and their managers, especially maintenance managers as they must keep track of assets and their performance, maintenance, and lifecycle as well. Lots of organizations keep track of their equipment and their maintenance with a spreadsheet because they do not have the budget, or they think unique skills are required for keeping track of assets. This is where Asset Infinity’s asset tracking software comes into play! This software is not only simple to use, but also one does not have to be equipped with some specific skills to track assets. It can be done easily, and it is cost-effective as well.

What Are the Benefits of Equipment Management Software?

The benefits of equipment management software are discussed below:

1. Optimize Asset Life Cycle

Equipment management software helps in optimizing asset lifecycle by providing maintenance on time and scheduling its maintenance regularly. From Asset procurement to asset disposal, equipment management software is helpful in all stages.

It assists organizations in calculating the depreciation of each asset as each asset has an expiration date as well.

Recommend To Read: Importance and Best Practices of Equipment Maintenance in the Manufacturing Industry

2. Equipment Tracking

When you keep track of equipment, you can ensure asset safety and gather valuable information as well. For instance, you can know how frequently asset is utilized, who is using an asset, and what is the status of the asset. Or why sudden breakdown occurs?

With proper asset and equipment tracking, you can gather the complete history of assets which is helpful in the future while making an informed decision. There is no doubt that equipment management tasks are simplified with equipment tracking.

3. Equipment Maintenance

With equipment management software, it does not matter how many assets you have, because you can easily schedule each asset with this software. Most importantly, you do not have to worry about sudden asset failure or asset breakdown. On the contrary, it is helpful in boosting asset performance.

According to the Markets & Markets reports, “The medical equipment maintenance market is projected to reach USD 74.2 billion by 2026 from USD 45.2 billion in 2021, at a CAGR of 10.4% during the forecast period”

Now imagine how huge the equipment maintenance market size will be.  Therefore, it is important to invest in equipment maintenance software to stay competitive.

4. Better Compliance

This software is also helpful in maintaining compliance. If an organization does not follow rules and regulations as per the industry norms, then the organization might end up paying a huge penalty. Equipment management software ensures that assets are maintained, and rules are followed.

5. Quick and Effective Audit

Usually, audits are a long and hectic process as an organization's assets are located at distinct locations. Gathering them can be a complicated procedure.

However, with equipment management software you can know asset locations all the time and gather them in no time and an audit can be done in no time. Furthermore, you can keep all documents of each asset which is helpful in performing effective audits easily.

What Is Asset Infinity's Software Features Helpful in Equipment Management?

Asset infinity's software features helpful in equipment management are discussed below:

1. Preventive Maintenance Scheduling

One of the most used asset infinity equipment management software is preventive maintenance scheduling. One of the major equipment management tasks is the maintenance schedule.

This software enables users to schedule maintenance easily. Preventive maintenance is helpful in avoiding sudden equipment failure. And boost asset performance as well it makes equipment reliable and enhances asset life also.

Missed To Read: How to Maximize ROI with Maintenance Tracking Software?

2. Alert & Notifications

One of the most helpful features for equipment management is alert & notifications as it is beneficial in different scenarios. For example, for each upcoming maintenance activity, this software alerts the maintenance team.

Another example is this software will alert you when your asset disposal date is about to come. Asset Infinity’s alert & notification feature is one of the most appreciated features by organizations. It has been proven helpful in boosting the productivity of the organizations.

3. Set Re-Order Level of Inventory

Inventory is essential for all organizations. For asset maintenance & optimization, MRO (maintenance, repair, operation) is done.

Inventory can be oil filters, engine oil, old rusty parts are removed & or new spare parts used. Therefore, it is very crucial to keep track of inventory in order to perform effective maintenance.

If the inventory is not available in stock, then the maintenance team will have to repeat the process again.

But when you are equipped with Asset Infinity’s equipment management software then you will not have to worry about inventory as this software will alert you whenever the inventory goes below the defined inventory level.

It will alert the person responsible, and the inventory refilling process will be initiated.

4. Check-In & Check-Out

One of the most useful features is check-in & check-out. It makes employees more responsible as they must keep track and ensure that the assets are stored in the right place.

It is also helpful in decreasing asset theft and asset misplacement. The Check-in check-out feature also helps. Planning asset maintenance and asset scheduling. Maximum utilization of assets can be done with the check-in check-out feature.

Conclusion

So these are the key features that are helpful in completing tasks on time with equipment management. However, these are only a few prominent features of Asset Infinity’s asset management software.

In order to manage assets efficiently, it is important to keep everyone on the same page. Equipment management software effectively keeps information centralized. It also assists when the organization and its employees are working remotely.

This software increases the visibility of equipment, which means asset utilization chances are better and productivity can be optimized. With this asset management software, you get detailed reports and analytics which are helpful in increasing asset utilization.

Moreover, it decreases maintenance expenses as well. With data analytics, you can make an informed decision. and set future goals as well.

Also Read: What Are the Importance and Features of an Asset Reservation System in Your Business?

Frequently Asked Questions (FAQs)

Q.1 - What Is Equipment Management Software?

Equipment management software provides all the information about each asset along with asset maintenance performance and so on. It provides a complete list of assets that your organization owns. With this software, you can optimize asset performance and extend asset life. You can also check current asset condition, current asset worth value, and the remaining life of an asset.

Q.2 - Is Asset Infinity's Equipment Management Software with Cloud Technology?

Yes, Asset Infinity's equipment management software with cloud technology. The most crucial benefit of cloud technology is that it provides accessibility & flexibility from anywhere. The users are not bound to their workstations. Another major benefit is that you get data security as well. Lots of organizations worry about data security, but when you invest in cloud technology, you do not have to worry about data because the cloud service provider will take care of security.

Q.3 - How Data Is Helpful in Optimizing Business?

Report & data are the keys to business growth so yes data is helpful to all businesses. For instance, you can discover pitfalls with data assistance and in the same way, data can be used to eliminate potential issues. Data provides a complete picture of expenses, and you can increase or decrease expenses as per the requirement and optimize business.