AAMS streamlines asset tracking and lifecycle management for critical assets with our asset management solution.
AAMS
Key Challenges
Our client faced significant challenges in managing their high-value assets. They lacked visibility into asset movement, struggled to maintain a consistent schedule for maintenance, and couldn't easily identify custodians. This resulted in a risk of misplaced assets, impacting operational efficiency. As a result, they required an asset lifecycle management solution.
Key Observations
Implementing ERPNext as their solution, the team unlocked immediate benefits. They gained complete visibility into asset movements, ownership, damage history, maintenance schedules, and accounting data. This newfound transparency significantly improved operational efficiency by more than 80%.
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40%
of manual work eliminated
Improved
asset visibility
20%
reduction in asset breakdown with maintenance alerts
Bringing record management and collaboration on a single platform.
A critical client need was for the system to function not just as a data store, but also as a communication hub for geographically dispersed teams. ERPNext's built-in commenting feature within doctypes addressed this perfectly. It eliminated the use of 3-4 separate apps, enabling communication and asset status updates on the same platform. For example, a team could directly mention receiving a damaged asset from headquarters within the request form, creating a clear audit trail for all related activities.
Simplifying complex approvals with workflows.
Medium-to-large organizations often struggle with lengthy approval times due to hierarchical structures. We addressed this by automating workflows. Asset requests now reach the designated team directly, and real-time status updates keep requesters informed. Upon approval, a delivery challan is automatically generated and shared with the inventory team, streamlining the fulfillment process. Once received, asset ownership details are automatically updated. This automation eliminates nearly 40% of manual work compared to their previous methods.
Improving visibility with automated reports.
Ensuring timely monitoring was crucial for the client's high-value assets. Previously, manual team updates took 2-3 days, creating a delay they were eager to eliminate. Additionally, accurate asset depreciation tracking was essential. ERPNext addressed both needs. Automated reports are now delivered daily, providing real-time insights. The integrated accounting module seamlessly manages depreciation, simplifying the entire asset lifecycle.
Managing maintenance of assets to ensure service reliability.
The client's asset portfolio included specialized equipment like vibration analyzers, sensors, and lasers. These tools require regular preventive maintenance and calibration to ensure optimal performance and service delivery. ERPNext's built-in maintenance module effectively addresses this need. It alerts for scheduled maintenance tasks, and tracks both completed activities and associated costs.
Road Ahead
ERPNext has significantly improved the client's asset management process. They're now looking to expand its use to accounting and support, creating a truly centralized system for their core operations. This streamlined approach will undoubtedly enhance the customer experience.