How the top asset managers choose their Asset Management Software

Posted by AmandaTom on June 16th, 2015

Great businesses have well managed assets. You can literally take any business in any vertical – Most Shell Petrol Pumps are always cleaner and better to use, Most BA flights are on time and almost every branch of HSBC is better than its competitors. When assets are well managed and when they work, businesses prosper. Your assets are wealth building tools of your business and it is for this reason that asset management is taken very seriously. To ensure your assets are well managed there are wide ranging asset management software available in the market. A focussed asset management strategy along with the right asset management software (implemented correctly) should be able to automate most of your asset management processes. A sign of a great asset or operational manager is how well his/her asset management system is enabling their business to be more profitable. It is not a small task…

A great operational manager has a crystal clear understanding of strengths and weaknesses of their business. They adopt asset management strategy to build on the strengths and work on the weaknesses. Spending more time on the strategy and execution is more important than fixing things. Fixing things is like brother of manual processes, if you have a manual process then fixing things is like a day-to-day task in your business. Top asset managers always look out for ways to minimise manual intervention, manual processes and manual quick fixes. As a result they focus on adopting asset management software that is tailored for their business. There is no reason why your asset management system should not send you an automated report suggesting that in 3 months’ time 20% of your assets require servicing or upgrade or replacement. Similarly, a good asset management software should be able to inform business critical trends. For example; if your assets in London appreciate by 10% whereas your assets in Aberdeen appreciate by 8% then these business critical information should be available at your fingertips.

When scanning the market for asset management software, the best asset managers focus equally on the software features as well as how well the software can be implemented in their business. A good asset management system automates the manual processes, is easier to use, well implemented but most importantly fully adopted by the users of the system. This leads us to ensuring that we scan the asset management software market efficiently.

In the UK, there are 47 suppliers of asset management system you can search about their products on comparesoft.co.uk. It is a comparison website focussed on asset management software in the UK. You can view product demonstrations and also get product brochures for all your software options. Generally takes less than a minute.

Top asset managers rely on competent asset management software so that their asset management system automates most of their manual asset related tasks.