How do you improve data flow for fixed asset management?

Improving data flow for fixed asset management involves streamlining the processes and systems related to acquiring, tracking, maintaining, and disposing of fixed assets.

Here are some steps you can take to enhance data flow in fixed asset management:

1.????Consolidate all fixed asset data into a centralised database. This ensures that information is easily accessible and avoids duplication or discrepancies in data.

2.????Establish a standardised format for recording and storing fixed asset data. Consistent data formatting such as common asset naming, identification and location naming makes it easier to extract and analyse information, as well as enables efficient data integration with other systems.

3.????Automate data capture by utilising technology to automate the collection and entry of asset data. Barcode or RFID scanners, mobile apps, or connected devices can help capture asset details accurately and efficiently, reducing manual errors.

4.????Know what assets and inventory you have and where it is. Use asset tracking technologies such as RFID or Barcodes to identify the last known location and quantity, improving visibility and reducing the risk of loss or theft.

5.????Establish seamless integration between asset management, procurement, and accounting systems.

6.????Provide mobile access to the asset management system, allowing employees to update asset data on the go. Mobile apps or web interfaces enable real-time data entry and updates, improving data flow and timeliness.

7.????Utilise reporting on asset performance, maintenance costs, and other key metrics such as asset condition (do you need to maintain, replace or refurbish). This facilitates data-driven decision-making and helps identify areas for improvement.

What is the key asset information your enterprise asset management system needs to keep?

1. Existence and location of inventory
2. Condition of the assets; how long it will operate
3. Asset health scores based on meters, data, maintenance costs, usefulness
4. ?Integrate your EAM system into financials ?
5. Tie asset telemetry into asset health to drive unit-based service triggering
6. The total cost of ownership (TCO) including:

• ?Acquisition and commissioning
• Maintaining, including spare parts
• Re-investing requirements; future plans

What is Hardcat Lebosi - Enterprise Asset Management?

Hardcat Lebosi provides a Single Source of Truth by bringing together the critical information on all assets into one consolidated view. Enhancing the data flow in fixed asset management leads to improved accuracy, efficiency, and decision-making capabilities.

What will Hardcat Lebosi provide?

• Common platform
• Inventory control
• Standardisation around asset types and locations
• Work planning, scheduling, and management
• Asset information around condition and costs
• Identify when an asset needs to have condition assessments performed
• Identify when an asset will require re-investment
• Planning around when to perform re-investment

Want to know what Hardcat Lebosi can do for you?

+61 3 9695 5400 hardcat.com [email protected]