4 Issues to Consider for your Asset Management Software

So much information moves so quickly these days that it is impossible to manage business assets effectively without digital assistance. However, choosing the right asset management software is important. Beyond the standard questions that every business should ask itself when considering asset management software, like how much it will cost, whether open source or free software is better, and what kind of customer support is being offered, there are four specific considerations that vary depending on the businesses involved.

Mobility

Will your asset management system work with fixed-location scanners, like a store checking for shoplifters at the entrance or a port monitoring vehicles as they enter or leave? Or will your staff be using handheld scanners? Is it important for it to be compatible with PDAs, cell phones, or other personal communication devices?

Integration

Are you going to be the only company accessing the information from your asset management software? Libraries or equipment rental businesses interact directly with the consumer, and do not have to worry about items passing from their system into another asset management system. However, some manufacturers or vendors have to deal with clients who have their own asset management systems. Will you need to be sure that your asset management software is compatible with other systems to meet your clients' needs?

Format

Will you be using bar codes or RFID chips? Or will you be using a combination of both? Barcodes are cheaper to manufacture and easier to make, but the tradeoff is that they hold less information. Do you need to track so much information that an active or passive RFID chip is required? If so, is it important for your asset management software to handle both types of information tags?

Timeliness

How quickly do you need your asset management system to react and propagate information throughout your database? Do updates need to take effect immediately, or is a lag of a few hours (or even a full business day) going to be acceptable? Naturally you want your asset management software to process updates as quickly as possible, but is it worth paying for the extra processing speed if you don't need it?

Because of the nature of your enterprise and the reason for tracking your inventory, your answers to these questions will be unique to your business. It is important to consider what you need and what you can live without when choosing asset management software.



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