Finding the best asset management software for your company is a crucial, yet time-consuming task. With an array of options on the market, finding the best fit for your company can become very daunting. Outlined below are some key features to be aware of before selecting an asset management software. These features will help guide you in your decision making, ensuring that the solution you choose supports both your current and future needs.
1. Cloud or Web-Based
Today, cloud-based software has become the industry standard. This is one of the first things to look for when evaluating asset management software. In this day and age, cloud-based solutions are a must as they offer significant cost and time-savings as well as great peace of mind. With a cloud-based platform you don’t have to worry about potential data loss or computer crashes affecting your system. All your information remains backed up and securely stored in the cloud. This provides users with more flexibility as all their data is accessible from anywhere, ensuring uninterrupted workflow for users. Additionally, cloud-based solutions offer remote accessibility, ensuring that your team can work from any location.
2. Customization
With every user’s unique needs, the demand for customization is increased. Thus, when searching for new software it is essential to consider whether the vendor allows you to tailor their platform to fit your specific requirements, making it your own. A fully customizable platform provides you the flexibility to personalize workflows, reports, and dashboards to fit your needs. Ultimately, making the platform more user-friendly.
3. Reporting Functionalities
In any asset management software, robust reporting is a must have feature. When looking for a system, assess if they have their own library of pre-designed reports for users to conveniently choose from. While this can be extremely helpful, it is also important to note whether or not the system provides the capability to create your own custom reports. Looking for a platform that provides both of these options, especially the ability to create customized reports within the software, is crucial. The last thing you want is to require yet another software to complete these tasks.
4. Technical Support & Training
The job of software providers should not end at making a sale. Rather the best asset management software providers continue to support their users through every step of the process. When adopting a new system it is important to clarify the vendor’s availability and whether or not they will be providing technical support to your company. It is important to be able to access the vendors for any advice or support when using the software. Look for a vendor who promises a great onboarding team and continual assistance or routine checkins to see how you’re doing and address any concerns you may have.
A well established on-boarding process paired with additional training guides and videos for users reference goes a long way. While training videos are important, they should never be the complete solution to providing technical support. Instead they should be used as a reference point for users to go back to after completing any necessary trainings given by the tech provider. They should be viewed as supplemental assistance and should not act as the entire onboarding and learning process. Furthermore, having access to ongoing training resources ensures your team stays informed and knowledgeable as the software evolves.
5. Compatibility
In todays interconnected world, compatibility with your pre-existing systems is vital. No matter what your role is, your asset management software should be able to easily integrate with your other processes. Don’t let your new software be a hindrance to your existing processes. It should fit in with the work you’re already doing and enhance the productivity of your team’s work days. Look for a system that is both adaptable and compatible with your current setup. This will ultimately save you time in the long run while reducing headaches during adoption.
6. Scalability
Deciding on a software provider is a long-term investment, so it’s important to plan for the future when considering different providers and analyze which ones can scale with your business as it grows. Adopting a new software is a major undertaking you don’t want to have to do every couple years simply because the software you chose can no longer support the size of your growing institution. A scalable solution ensures you can continue to use the software even as your company expands. A vendor who is committed to innovation and growth will provide good customer support throughout your use of the software, no matter how big you grow. Likewise it is important to look for a vendor that is constantly desiring to grow and evolve. The worst thing to do is become complacent. We should always be adapting and learning how to grow and improve our processes.
7. Usability
Regardless of how efficient and powerful a system is, it won’t be effective if it is difficult to manage. Prioritizing easy to adopt and user-friendly platforms is extremely important. This will minimize downtime and struggles during implementation and make it easier for you and your team to adopt a new software and get the most out of the system right from the start.
Selecting the best asset management software for your company requires careful consideration of features that align both with your current requirements and future goals. By focusing on the above features, you’ll be better equipped to make a decision that supports your team, optimizes your workflows, and grows with your organization.
With the correct software, your team can work more efficiently, make better data-driven decisions, and ultimately, propel your organization further than your competitors. Be sure to take your time, carefully evaluating each of your options. This is a big investment into your company’s future.
