Complete guide to remote asset management

In today's fast-paced and increasingly digital world, businesses are constantly seeking innovative solutions to streamline operations and maximize productivity. 

One such solution that has gained significant traction across industries is remote asset management (RAM) software. RAM systems empower organizations to monitor and track their assets from anywhere, at any time, by leveraging advanced digital asset management tools. From industrial machinery to energy infrastructure and IT equipment, remote asset management platforms offer a myriad of benefits that have revolutionized best practices, while enhancing operational efficiencies.

Today, we’ll take an in-depth look at what remote asset management is, features to seek out in RAM software, and the best software providers currently available for your business needs.

What is remote asset management?

Remote asset management is the practice of overseeing assets, such as machinery, vehicles, and infrastructure, from a distance using digital technologies. It complements IT Asset Management (ITAM) by providing real-time data and insights into remote assets, ensuring a cohesive asset monitoring solution to managing and optimizing all organizational assets. 

RAM leverages the Internet of Things (IoT), cloud computing, and data analytics to monitor the performance of assets in real-time. By utilizing sensors and connectivity solutions, organizations can collect data on various parameters of their operations, enabling proactive maintenance and reducing downtime. This digital oversight verifies that assets are operating efficiently without the need for constant on-site supervision.

Remote assets that need management

Assets commonly managed using RAM span various industries, each leveraging the management services technology to ensure operational efficiency.

In the industrial sector, machinery and equipment such as CNC machines, production lines, and HVAC systems are frequently monitored remotely. This empowers companies to track performance metrics, predict maintenance needs, and detect potential issues.

For transportation companies, fleets of vehicles are prime candidates for remote asset management. Fleet managers utilize GPS tracking, telematics, and real-time diagnostics to monitor vehicle health, fuel usage, and driver behavior. This continuous oversight helps in optimizing routes, improving fuel efficiency, and more.

Other spaces that may benefit from remote asset management include, but are not limited to, energy and utility, buildings and facilities, agriculture, and telecommunication.

Why is remote asset management important?

RAM allows for timely interventions before issues become critical, helping to prevent unexpected breakdowns and expensive repairs. The ability to schedule maintenance based on actual asset conditions, rather than on a set schedule, reduces downtime and extends the lifespan of the assets, which can contribute to substantial cost savings.

Furthermore, it enables technicians to oversee multiple assets and locations without the need for constant physical presence. For industries like manufacturing, energy, and transportation, where asset performance and safety are paramount, the ability to remotely manage assets translates into higher operational uptime and a safer working environment for employees.

Key features to look for in remote asset management software

Though each RAM software will offer distinct features, there are some core characteristics that any competent system should provide to its clients. You’ll need to verify that your chosen software is secure, flexible, and accurate to maximize your remote access management efforts.

Data security

It’s important that potential software providers offer strong encryption protocols for both data in transit and at rest. Encryption ensures that any data transmitted is unreadable to unauthorized parties. Advanced encryption standards (AES) and secure communication protocols are essential to safeguard data from interception during transmission. 

Another critical security feature is access control and user authentication. All software should, at a minimum, implement multi-factor authentication (MFA) to verify the identities of users accessing the system. Additionally, role-based access control (RBAC) allows administrators to assign permissions based on a user’s role within the organization, ensuring that individuals only have access to the information necessary to perform their job duties.

Flexibility

User customization and configurability are essential for flexibility in RAM software. Each company has unique processes and requirements, and the ability to tailor the software to specific needs enhances its utility for distinct business needs. Configurable dashboards, customizable reporting, and user-defined alerts enable organizations to focus on data and metrics that are relevant to their operations.

Moreover, flexible user roles and permissions allow for adjustments in access and control as business structures evolve.

Scalable to business needs

As companies grow, the volume and diversity of assets it manages are likely to increase. Scalable software can accommodate this growth, handling additional data without compromising performance. 

This involves the ability to easily integrate new assets into the system and expand storage and processing capabilities. Modular design allows organizations to add or upgrade specific functionalities, such as advanced analytics, enhanced reporting tools, or additional integration capabilities, as their operational requirements evolve.

Integrations with current tools

Remote asset management software can ensure seamless integration with other business tools through the implementation of robust APIs (Application Programming Interfaces). APIs allow different software systems to communicate and share data efficiently, enabling RAM platforms to connect with a wide range of existing technologies.

These softwares often support standard data exchange formats such as XML (eXtensible Markup Language) or JSON (JavaScript Object Notation) as well, ensuring compatibility with various external applications. This standardization simplifies integration processes, empowering companies to easily connect their asset management solution with other tools without the need for complex custom development. 

Customization

A key customization feature of remote asset management software is its ability to provide flexible workflow automation and process personalization. These attributes enable organizations to create custom workflows and automate routine tasks such as maintenance scheduling, asset tracking, and inventory management.

Even more, businesses can tailor notification settings to receive real-time updates on critical events or performance anomalies, allowing for proactive decision-making and timely intervention.

Data accuracy

Integrating sensors and IoT devices with RAM software enables companies to capture asset data in real time, minimizing the risk of human error and ensuring that data always remains up to date. Sensors can collect a wide range of metrics, including temperature, pressure, vibration, and usage patterns, providing a comprehensive view of asset performance.

Additionally, remote asset management systems often include automated data validation mechanisms to ensure data integrity. Validation rules can be configured to check for anomalies or missing values in collected data, flagging potential errors for further review.

Mobile access

Mobile solutions, like phone applications and web-based platforms, empower users to access asset data and monitor performance from anywhere with an internet connection. Mobile access also enables field technicians, maintenance personnel, and managers to stay connected to their assets even when they’re on the go, promoting faster response times and more efficient operations.

Mobile access enhances communication among team members by allowing for real-time sharing of information as well. Field technicians can input data, update asset status, and communicate issues directly from the field, ensuring that all stakeholders have access to the latest updates.

Choosing the right remote asset management software for your business

First, you need to identify your business requirements and the types of assets that you manage. This involves understanding the specific functionalities you need, such as real-time monitoring, predictive maintenance, and data analytics capabilities. Don’t forget to assess the scalability of the software to accommodate future growth and additional assets. 

Next, evaluate the software’s integration capabilities and ease of use. Your chosen solution should seamlessly connect with existing systems to ensure a cohesive workflow across all infrastructure. User-friendliness is also vital; a platform that’s intuitive and easy to navigate will reduce the learning curve for your team and enhance adoption rates.

Finally, consider the support and training offered by the software provider. Comprehensive training resources are paramount for the successful implementation and ongoing use of the software. Seek out vendors that offer extensive onboarding, regular updates, and responsive technical support.

Bring your remote asset management to the next level with Freshservice!

Freshworks’ Freshservice acts as a full-feature, cloud-based IT Help Desk and service management solution, offering an abundance of tools designed specifically to improve remote asset management efforts.

Features such as its unified service catalog, service health monitoring, and workflow automation verify that all assets are sufficiently monitored and that proper provisions are in place to address potential issues. Even more, enhanced asset visibility ensures that businesses have oversight into dependency mapping and lifecycles in one unified location, while software asset management, SaaS management, and inventory management confirm that all areas of your operation are sufficiently monitored.

Take it from our satisfied client, Harry N., who praises Freshervice’s asset management and regulatory compliance capacity, saying, “Freshservice helps me to manage all the IT assets in my organization, such as computers, software, printers, routers, etc. I can scan and discover assets automatically, track their location, status, and usage, and assign them to users or groups. I can also monitor the health and performance of the assets and get alerts when there are issues or changes. Freshservice also helps me to manage software licenses and contracts and ensure compliance with policies and regulations.”