Operations | Monitoring | ITSM | DevOps | Cloud

Fixed asset management is a complicated process because organizations do not exact the location of their assets. As a result, when fixed asset physical verification is done organizations find that their lots of assets are in some other location or missing. That is why from time-to-time physical verification must be performed. In this blog, we will know what the major fixed assets physical verification challenges occur! So, let us begin!

When your company has hundreds or even thousands of physical assets, it’s essential to know where these assets are located and their operational status. Otherwise, you have to deal with outages and compliance issues that can create drastic business implications. From computer monitors to industrial equipment, tracking and controlling your assets with asset tags is critical to your company’s bottom line.

In most organizations, software asset management (SAM) is not given much importance since IT professionals don’t emphasize its relevance. It could be influenced by the fact the responsibilities of a SAM team are often delegated to other employees. But with the rising of software procurement costs, distributed workforces, and the rapid growth of the SaaS industry, we are starting to see software asset management less as a nice-to-have and more as an essential business component.

In hypermarkets, supermarkets, grocery stores, retail shops, etc. Everyone knows that there is a huge amount of inventory available for customers to purchase. It is important to keep track of inventory and goods available belonging to good quality. Most importantly inventory is sold while it is in good condition and valid as well. However, it becomes hectic and labor-intensive because these places are inventory intensive. This is where stocktaking and stock checking come into play.

Are you a company that has assets in the hundreds? Maybe even in the thousands? If so, knowing the location and operational status of your company’s physical assets is imperative. It may sound repetitive, but we can’t overstate that your company’s profitability depends on being able to identify, manage, and control all of your assets. Physical assets are frequently used, sold, repaired, upgraded, removed, or even stolen.

Industrial plant maintenance is not easy as there are lots of assets that need to be maintained. But organizations are unable to keep track of maintenance because they do not have a proper tracking solution. However, for industrial plants, maintenance is essential if assets are not maintained and do not provide good performance then production work is delayed. It not only impacts business but the brand image of a business is also diluted.

Asset management is an evolving process as enterprises face increasing compliance and regulatory requirements. Enterprises also continue to expand their asset inventory as part of their growth and work with multiple vendors and third parties. This diverse range of assets is best managed with a centralized asset management platform that covers asset monitoring, including accurate auditing.

Every organization is equipped with lots of assets and all organizations rely on some type of maintenance. Organizations that are into production and manufacturing such as oil & gas, electronics, and pharma heavily rely on maintenance. A manufacturing unit utilizes plant maintenance! Don’t know what exactly plant maintenance is? In this blog, we will know about plant maintenance Types & their objectives. So, let's begin with basic definitions first.

Business objectives for IT management have fundamentally shifted. Traditionally, organizations imposed a heavy-hand over the types of IT resources their workers employ and how they will use them. However, over the past decade or so, a growing awareness has supplanted these antiquated approaches suggesting technology should conform to the needs of the workers, rather than the other way around.

Managed Service Providers or MSPs in asset management, which started as remote IT support and troubleshooting in the 90s, have evolved into one of the most prominent IT business models. According to a Statista’s report, the global MSP market share was valued at 152.02 billion USD in 2020 and is expected to grow close to 274 billion USD by 2026. Rather than just troubleshoot or monitor remote IT systems, MSPs these days offer services that manage the IT infrastructure for organizations entirely.