How Does the Workplace of the Future Affect Asset Management?

Perhaps the greatest example of the speed of the tech revolution is how it’s transformed the workplace. Never has information been more accessible, or functions more automated. Professionals in workplace management are experiencing numerous gains, and tools for increasing workplace efficiency only continue to improve.

The Rise of Asset Management

As you know, the most prosperous organizations are lean, optimized and fully aware of their current and future needs. One way successful organizations achieve this degree of self-awareness is through asset management. Asset management isn’t just about the assets that directly support business (like computers, printers, scanners and phone systems). It also encompasses indirect assets (like heat and air units, safety equipment, office furniture and kitchen appliances).

The more an organization understands about how its asset management, the more able it will be to trim down excess spend, decrease waste or losses, scale for growth and take on the most competitive organizations in the marketplace.

To do asset management right, your organization must be capable of vigilantly tracking the locations (space or ownership), contracts and maintenance information for all assets in your establishment. Until recently, assets had to be manually tracked, which was a huge headache for facilities managers who already carry an incredible amount of responsibility on their shoulders.

But today, the workplace of the future is making asset management easier, more accurate and attainable for all.

Asset Management Software

Asset management software has been a complete game changer for facilities management, who now have access to a sophisticated database that enables them to track any number of assets in one centralized location. Each asset has its own detailed profile that includes pictures, product guides, key contact information and more.

The software also automates key responsibilities, and generates custom reports for asset location, utilization and cost. Facilities managers can even set contract expiration alerts. Ultimately, this technology is helping facilities achieve an unprecedented level of organization and visibility, which benefits the business and the customer.

The IoT

As the Internet of Things (IoT) continues to evolve, the workplace of the future promises an abundance of machine-to-machine and machine to human communication. Especially for asset management — this is huge. Smart sensors strategically placed on particular assets will deliver incredibly detailed utilization reports, thus making predictive management a reality. Instead of responding to utilization, facilities managers are able to anticipate user needs. 

Instead of manually checking equipment and technologies to ensure they are in peak and proper working condition, assets communicate to facilities managers when they require maintenance. All of this data sharing takes place in real time, and as this technology continues to advance, we expect even more accuracy in terms of customized reports, inventory and trend tracking. Ultimately, the Internet of Things and its influence on asset management will lead to major operational, safety and security gains.

Mobile Asset Management

In addition to intuitive asset management software, facilities managers are taking advantage of mobile technology that permits them to remotely monitor and manage property. Innovative mobile apps give managers complete visibility no matter where their job takes them. These apps also make it possible for managers to validate asset information, search for data, edit asset profiles, upload pictures and more.

As the Internet of Things continues to evolve, so will the level of remote control facilities managers have. Already, we are capable of remotely setting the office temperature, turning systems on and off, or performing software and network updates. Eventually, we expect to be able to make more complex maintenance tasks entirely possible via remote control.

Forecasting

The one strength all successful businesses share is the ability to forecast future needs and stay ahead of the curve. Ultimately, this is what the workplace of the future will enable every size business to do; optimize their supply chains, lean down, become more efficient and assume frontrunner status—all-the-while keeping a close eye on what’s to come.

Asset Management And The Future of The Workplace

More than greater ease, automation and remote control, the workplace of the future is inspiring a foundational shift in the way facilities managers approach asset management and workspace management at large. Instead of being “reactive”, they will be empowered by technology and able to manage “proactively.” Instead of making decisions based on best guesses and estimates, they will have the insight and foresight necessary to address issues, meet demands and adapt before new trends create operational stressors.

Technology is changing rapidly. Learn the secrets to keeping up in our free guide 4 Ways Innovative Leader Stay Ahead of the Technology Curve.