Wednesday, 23 March 2016

Knowing More about Asset Life Cycle Management

Asset Management helps in keeping a track of the catalog specifics of hardware, software, cybernetic infrastructure, and non-IT resources during their lifecycle, from procurement till discarding. Asset requests are controlled via workflows to attain approvals, issue chargebacks, authenticate privileges, and establishment services. Once the company has the possession of the asset, the asset management tool records all happenings and allows IT team to perform regular assessments until asset superannuation. The tool even helps in upholding the records for stocktaking purpose.

Businesses Need It

Erroneous details in the inventory, service adjournments, compliance matters, and squandered possessions are everyday things that enterprises need to tackle for these can have severe consequences if not addressed timely. To lessen the risk, it is important for office administration to be aware of the assets they possess, where they are installed, who uses the assets, how these are organized, their price, and the worth they deliver. All of this and much more is made possible by asset management tool.

How Asset Life Cycle Management Companies Help?

There are loads of companies that provide asset life cycle management service, which includes asset knowledge management, asset development support, and general operations administration. With enhanced data management, constant backend support for remote procedures and modern analytics, asset life cycle management service offers:


Better agreement with organizational needs in asset health, maintenance schedules and reliability

Better Efficiency

Increased efficiency helps in asset maintenance because of greater percentage of strategic activities

Free Assets

The free up resources allow better concentration on higher value-added activities

High Accessibility

Augmented analytical maintenance leads to reduced downtime


Superior scalability is simplified by the presence of diverse skill sets to back utility needs

Services Offered


Asset Knowledge Management

Knowledge of assets is vital to progress. The tool helps in registry setup and update, which includes asset and official safety specs data entry, GIS information update and maintenance along with engineering design support.

Remote Operations Management

Managing remote operations is possible with these tools. The company can use ad hoc asset processes reporting and analytics support, analytical maintenance, and asset services provision desk to manage better their operations.

Asset Planning Support

Asset planning is vital for every organization and the asset planning provision offered by such tools is of great help in this regard. It allows business case support (whether to maintain or purchase asset), and asset discarding decision (to rent or dispose of the asset).

Final Words

Thus, with so much to offer, asset life cycle management is a must for your business. You will be able to make decisions that can have significant implications for organizational functioning. Right decisions ensure safety and eliminate operational and business risks. So, go for an asset management solution that suits your business needs and allows you to plan your work accordingly.
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