Asset Management Systems: Leading to Profit and Growth

Asset Management Systems: Leading to Profit and Growth

Asset Management Systems: Leading to Profit and Growth

Asset Management Systems: Leading to Profit and Growth

For many organizations, a cost-effective asset management solution is the key to achieving the highest profit and growth results. However, it is impossible to balance between productivity and cost-effectiveness without having a highly-developed asset management system.

 

Automation and Intelligence Are Key in Asset Management Systems

You might assume that features such as automation and intelligence are crucial for your system. Perhaps you question whether there's any asset management software that provides those aforementioned features? The answer is yes, there is. IoT-enabled asset management will cover off all of the above. Let's look at this in more detail, along with its benefits and some case studies.

 

What is Internet of Things-Enabled Asset Management?

Firstly, do you know what loT-enabled asset management is? Here are a few useful pointers:

  1. Decreasing Human Involvement: loT-enabled asset management allows companies to track specific information about their assets actively, without any human involvement.
  2. Attachable Sensors: These are specific IoT sensors that can be attached to assets instead of or along with more conventional asset tags (e.g. QR codes).
  3. A Collection of Different Types of Sensors: There are many different types of sensors available, such as acceleration, temperature, humidity, pressure, and proximity sensors. Deciding on the suitable sensors you need depends on defining your business requirements.
  4. Sensors' Function: The sensors' function is used to gather data and push it to a cloud platform. This occurs at a certain frequency (usually around every 10 minutes) depending on the technology and settings used for the data transmission. Then, the system analyses and transforms this data into actionable insights concerning asset usage, location, environment, and condition, for example.

 

Use Cases for IoT-Enabled Asset Management

IoT-enabled asset management solutions can provide companies with real-time alerts, predictive analytics, automatic reporting, data insights and more. Here are some use cases for IoT-enabled asset management:

  1. Locations: Automatic location data, asset tracking and geofencing solutions (e.g. utilising GPS trackers).
  2. Usage Hours: Automatic tracking of usage hours and notifications about reached threshold values (e.g. acceleration sensors).
  3. Warehouse Inventory: Automatic warehouse inventories without any separate inventory events (e.g. BLE beacons).
  4. Material Flows: Automatic tracking and reporting of material flows (e.g. RFID tags).

 

The Key Benefits of IoT-Enabled Asset Management

There are lots of excellent benefits using loT-enabled asset management.

  1. Centralized Monitoring and Performance Assessment: The physical locations of your asset or assets do not matter. Smart asset management enables monitoring of asset performance through a centralised location. This can be anytime and anywhere access using a single dashboard. This dashboard tracks and analyses the various performance parameters of each asset.
  2. Real-time Alerting: Smart asset management solutions make it easy by raising alarms should there be any anomalies detected. Achieving quick restoration through automation or through manual intervention would is then possible. Moreover, the early warning alerts help with corrective action or specific decision making support. Linking early warning alerts or real time alerts with integrated supply chain management is also a possibility. This helps to achieve effective optimisation.
  3. Minimizing the Human Intervention: Overall Equipment Effectiveness (OEE) is one of the key manufacturing metrics for measuring the true productivity and efficiency of a manufacturing unit. Obviously, when decision-making it is essential to minimise losses. Using IoT technology, manufacturers have started monitoring and analysing three key aspects. These are quality, availability, and performance of the machines automatically, in real-time.

 

Benefits of Mojodat Fixed Asset Management Solution

Mojodat stands out as a leading IoT-enabled asset management solution that can significantly aid companies in optimizing their operations and achieving substantial growth. By leveraging automation and intelligence, Mojodat minimizes human intervention, ensuring accurate and real-time tracking and management of assets. This not only boosts productivity but also enhances decision-making processes through actionable insights derived from the data collected by various sensors. With its centralized monitoring and real-time alerting capabilities, Mojodat allows businesses to efficiently manage their assets, reduce operational costs, and improve overall equipment effectiveness. Companies seeking to stay competitive and innovative in today's fast-paced market will find Mojodat to be an indispensable tool for driving profit and growth.

 

About Transtek Systems

Transtek Systems is a UAE software company, founded in 2000. For over two decades, we have driven digital transformation across small, medium, enterprise, corporate, and governmental sectors throughout the region.

Our innovative software solutions address diverse pain points, making us a trusted partner in solving complex challenges. At the forefront of the Middle East’s enterprise software market, Transtek Systems specializes in Mojodat Software Solution, encompassing Fixed Assets, Maintenance, Inventory, and Marketplace Management. With expertise spanning Government, Healthcare, Oil & Gas, Hospitals, and Education sectors.

We are headquartered in Abu Dhabi, UAE, and extend our footprint across the GCC, Middle East, and Africa.

How IoT-Enabled Asset Management Drives Profit and Business Growth

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