Qualities of the best asset management software for Australian companies

ByAabidaha Shaikh

Today, we are seeing robots manage the front offices and automation has entered transportation. In such an increasingly tech-driven world, Australian businesses need to quickly and drastically change their operational strategies and processes. The conventional ERP systems are now becoming legacy and incompatible with the new norm of anytime, anywhere asset management. The challenges faced by businesses across Australia, can be effectively overcome by an advanced ERP on cloud solution. There are plenty of benefits of switching from a conventional asset management software to an ERP on cloud especially for the mid to large sized Australian corporations. The right software can offer a full-fledged ERP management process at affordable prices and help the companies do away with the heavy upfront costs of purchasing specialized hardware and software.

With the integration of futuristic technologies such as robotics, Big Data analytics, AI, and sensors connected through Internet of Things (IoT) platform, it is possible to make your asset management more agile, leaner and yet capable of effective Predictive Maintenance. Whether it is a large power generation company or a fleet management company, real estate and infrastructure brand, manufacturing plant, commercial complex or even an airport, ERP on cloud can take care of all needs with equal efficiency. Some of the key abilities of the system would include:

  • Highly impactful asset maintenance management due to the inbuilt analytics and power of predictive maintenance
  • Mitigation of equipment risks by adherence to enhanced safety protocols
  • Smooth and on-time regulatory adherence by compliance tracking and ability of asset tracking to keep things audit-ready
  • Streamlining of the entire operations and superior asset performance throughout its lifecycle

By using an advanced asset management software, you can have complete control of the asset acquisition, planning, budgeting and approval processes from a single dashboard. Once you finalize the need for the asset, the entire acquisition process starting from capital procurement to commissioning, managing of supplier contracts and making payments, will be taken care of by the system in a hassle-free manner. Installation, commissioning and maintenance of the new assets or maintaining the fixed asset register will also get streamlined by an ERP on cloud systems. The scalability of cloud allows the ability to have maintenance programs and work management strategies in place alongside the critical failure analysis and RCA options to ensure efficient asset management across Australia. When the time comes to retire the asset, the system would reconcile data from the asset retirement proposal and help you make informed decisions on whether to scale up or scrap the asset in an optimized manner.

Australian businesses need the best of tech support available, and in a dynamic and innovative manner. That’s where an ERP on cloud offers seamless integration with other existing technologies and popular third-party software such as payroll, finance and accounting, etc. All this comes at a significantly lower cost as instead of investing heavily into infrastructure, all a company needs is a pay-for-use subscription. Cloud also offers complete flexibility of integration with future software, extension tools and round-the-clock access and on-the-go insights on assets all over Australia and even in other countries.

So if you are looking to maintain a lead over your competitors in today’s scenario, a cloud asset management software should be an essential item in your corporate toolkit.