What is Asset Management? An Overview of Asset Management

Asset management is key in helping organisations or individuals monitor and manage their assets.

Having a dedicated system or having a dedicated asset manager monitoring these assets improves productivity and efficiency whilst focusing on future return on investment.

What is Asset Management?

Asset management is the practice of acquiring, maintaining, trading and monitoring assets and investments that have the potential to grow in value.

Dedicated asset managers can be hired to perform this service for others. An asset manager can work independently or can work for a financial institution or bank.

For bigger organisations such as educational establishments, you can purchase asset management software that provides the tools to supply a holistic view of assets and manage them accordingly. 

In terms of asset management in organisations, asset management helps organisations monitor and manage their assets. When managed effectively, asset management is beneficial in putting organisations into a better position to increase their return on investment.

What is Digital Asset Management?

Digital asset management helps organisations to organise, store, retrieve and share their digital assets in one place.

A digital asset management system provides employees, clients and any relevant stakeholders with controlled access to the appropriate digital content/relevant assets. 

Some examples of digital content can be images, files, videos and documents.

What Are the Benefits of Digital Asset Management?

• Quick and easy access
• A more productive way to find and retrieve content
• Keeps important assets safe and secure
• Seamless integration
• Ensures individuals are accessing the most up to date version of that content

What Does Asset Management Software Do?

Asset management software allows you to easily control all of your establishment’s assets, from buildings, IT infrastructure, approved contractors, service agreements, contracts and warranties.

An efficient asset management software ensures:

• Total control over asset life cycles, from procurement to disposal
• Increased oversight of budgeting and capital expenditure processes
• Peace of mind that important dates, such as contract rollovers, will not be missed

An effective asset management software will have various tools to make managing and acquiring assets a smooth and efficient process, especially in big institutions or organisations.

Why Asset Management Software is Useful to Have

Greater Accuracy

With effective asset management software, you can be sure of greater accuracy with your data when looking into the relative assets. Being inaccurate with your asset listings can cause problems later down the line.

Improves Compliance

It is a requirement of a company or establishment to record how their assets are acquired, disposed of and utilised. This needs to be recorded in a specific way and without asset management software, can take up a large amount of time. 

Minimises Waste

Having asset management software will allow your establishment to have complete control and oversight over the utilisation and disposal of important assets.

By being able to look more closely into the data, establishments are able to have higher visibility of areas where assets are wasted or are unnecessary. 

This is useful for monitoring whether assets are being utilised to their full potential or not.

Manages Risk

Adopting a systematic asset management process means the risk associated with the ownership and the utilisation of key assets can be reduced. 

By being able to identify and manage risks establishments are able to have some foresight and combat any issues that may arise.

Asset Management for Schools

Asset management software designed specifically for schools and other educational establishments makes managing assets simple and straightforward and maintains a smooth running of day-to-day operations.

The Key Features of Asset Management for Schools

Tangible and Intangible Asset Control

Having asset management software in schools allows for complete control over tangible and intangible assets. 

This can be anything from buildings, IT equipment, furniture, service agreements and contracts

Multimedia Assets

An asset management system allows for managing and uploading a wide range of different multimedia assets in various formats. 

As an example, this can be in the form of instructional videos instructing on how to manage various equipment or systems.

Dynamic Reporting

Dynamic reporting tools included in asset management software can create a wide range of custom reports from all asset data.

Having consistently updated reports is key for ensuring compliance across an educational establishment.

Custom Asset Features

Asset management systems can be preconfigured to have various commonly found asset types with the ability to add or remove these different types.

This allows users to personalise their asset management to the company or establishment that they are monitoring the assets of.

How Much Does Asset Management Software Cost?

The cost of such software and other compliance management software can be costed either at a fixed monthly rate based on various plans or can be bespoke to your specific needs.

To find out an exact cost, it is worth enquiring directly.

Looking to Invest in an Asset Management System?

Whether you’re looking for a general asset management system or a dedicated asset management system for schools, we have you covered to make sure you keep on top of important assets.

If you’d like to learn more about our software, you can either book a demo, or contact us directly for a no-obligation quote