Corporate success doesn't come by chance, but rather as a direct result of planning, smart management, and effective control of every component of the company. Among the most important of these components are corporate assets, which are the foundation of operational processes. These include machinery, equipment, electronic systems, real estate, and vehicles. Each of these assets plays a vital role within any organization.

But what happens when these assets stop working? This can happen due to a sudden breakdown or a loss of efficiency over time. This usually occurs as a result of a lack of ongoing asset maintenance and the absence of a system responsible for managing assets, tracking assets, and effectively controlling them. This is where modern asset management software comes in, giving business owners complete control over asset management and tracking, as well as the ability to predict and plan ahead.

This is what we will learn about in this article, which serves as a guide for business owners to learn how they can plan corporate asset maintenance using modern software.

Challenges Facing Traditional Asset Management and Maintenance Methods
Reactive Maintenance: This involves waiting for a breakdown to occur before repairing it, which increases costs due to the cost of emergency repairs and spare parts. This also impacts unplanned production shutdowns, and consequently, delivery schedules and customer satisfaction.
Difficulty in tracking and controlling: Relying on paper documents and manual records makes it difficult to accurately track contracts. It also makes it difficult to determine who is responsible for which assets, track inspections and maintenance, and determine the current condition of assets.
Poor inventory management: The absence of regular asset maintenance results in over-purchasing spare parts or their unforeseen depletion, which impacts maintenance and repair operations.
Inability to predict and plan for the future: Without accurate data on asset performance and failure history, it becomes difficult to predict the lifespan of assets. This inability to plan results from a lack of efficiency and effectiveness in asset management.
Ineffective communication: Following traditional methods of asset management makes communication difficult between maintenance teams, management, and other departments. This leads to poor decision-making.
These challenges, and many others, make it difficult for organizations to survive in the market and achieve desired success and objectives.

How do modern programs change the concept of asset maintenance?
Asset software is an integrated system that helps business owners gain complete control over asset maintenance, plan it proactively and systematically, and track maintenance accurately and efficiently.

Preventive and Predictive Maintenance
Instead of waiting for a breakdown to be fixed, asset software enables the ability to schedule periodic maintenance work based on operating hours and cycle counts. This is called preventive maintenance, with the ability to generate notifications to alert customers when maintenance is due and track subsequent maintenance. This ensures assets operate more efficiently and reduces the likelihood of sudden breakdowns.

Asset software also provides tools and technologies that help achieve predictive maintenance. Using IoT sensors and historical data, these programs analyze asset performance patterns and predict when a breakdown will occur. For example, if an engine overheats, the asset software sends an alert to maintenance teams to intervene before the engine stops. This helps reduce costs and extend the lifespan of assets.

Tracking Assets and Warranties
One of the challenges organizations face is the difficulty of determining who is responsible for each asset, due to their reliance on paper documents and the lack of oversight. However, with asset management software, tracking assets and warranties has become easy and transparent. This is achieved by creating a digital file for each asset containing:

Basic information: This includes the serial number, model, purchase date, and the department responsible for managing the asset.
Maintenance history: Each maintenance operation performed, the spare parts used, and the technician who performed the maintenance.
Custody: The name of the employee currently responsible for the asset, the condition of the asset upon receipt, and its location are recorded.
This gives business owners complete control over asset management and custody tracking, and helps define responsibilities. This reduces loss and misuse.

Inventory Management
Modern asset management software integrates with inventory management systems, enabling the automation of many tasks electronically. When an asset maintenance order is issued, used spare parts are automatically deducted from inventory. When inventory reaches a certain level, automatic alerts are sent to request the purchase of new spare parts. This ensures that parts are always available, without the need to store unnecessarily large quantities.

Steps for planning corporate asset maintenance using modern software
A comprehensive inventory of assets: List all assets in use, including their basic data, such as purchase date, lifespan, value, and location.
Asset classification: With asset software, you can categorize assets, whether fixed or mobile, and create a file for each asset within its appropriate classification.
Data entry: Start by entering all data on assets used within your organization by scanning paper documents.
Preventive maintenance scheduling: By recording information for each asset used, a maintenance schedule can be set and alerts can be sent before the scheduled date as reminders.
Tracking and monitoring: Through their dashboards, asset software enables the ability to track all operational and maintenance activities. They also generate reports that provide data on asset condition and future insights, helping to make more efficient and effective decisions.
What organizations will achieve with modern asset software
Relying on asset maintenance and tracking software