Efficient upkeep of company assets involves maintenance as well as management. The similarities between both cause many to use the terms interchangeably, but there are notable differences. At best, it can be said that asset maintenance and management are interdependent. You cannot fulfill your ITAM objectives without proper asset maintenance. On that note, let’s understand the differing aspects of asset management vs maintenance and how they relate with each other.
Define Asset Management
Assets are tangible items that add value to a company and help with its operations. It can be hardware, software, equipment, etc. Asset management is a holistic approach to overseeing the assets and their utilization throughout from procurement to disposal, covering the full lifecycle. It involves strategic planning, and implementation of best practices to optimize the value and performance of company assets.
Example: EAM (Enterprise Asset Management)
Define Asset Maintenance
Asset maintenance is a crucial part of asset management. It specifically addresses the actions aimed at preserving, repairing, and sustaining the operational performance and lifespan of assets. Companies rely on two types of maintenance:
- Preventive
- Predictive
Read our article on asset maintenance management to learn more about it.
Example: CMMS (Computerized Maintenance Management System)
Understanding Asset Management vs Maintenance
As it is quite clear from the definitions, asset maintenance and management complement each other in tracking and managing various aspects of asset procurement, upkeep and utilization. While maintenance promotes the performance of the asset, management tracks asset usage and incorporates practices to maximize utilization throughout its lifecycle. Additionally, it also involves historical record keeping and data analysis.
Companies that rely on tracking asset availability, distribution, and usage, incline towards using asset management systems. The objective is to gain better control over their extensive asset fleet and measure the overall performance. Analytics derived from historical asset data helps with strategic decision-making, reducing asset costs, and workflow efficiency.
How AssetRemix Combines Management & Maintenance of Assets
If you are looking to streamline your ITAM objectives, it’s best to go for a system like AssetRemix that combines the key functionalities involving asset management and maintenance. Custom CSV, directory sync, and third party system integrations help with fast and seamless import of asset data once you onboard the system and as you keep expanding your fleet.
Features like asset assignment, funding source tracking, fast-check-in/out, and maintenance scheduling simplifies day-to-day asset management tasks. While the custom fields allows you to categorise the assets accurately and in detail to maintain historical records, free barcode generation and scanning aids in fast asset identification.
You can generate custom reports to analyse the data for strategic decision-making. There are a host of other functionalities, combined with flexible pricing that make AssetRemix the one-stop solution for all your asset maintenance and management requirements.
Request a free demo and schedule a call to know more about the platform. You can start your free trial to manage up to 50 devices with access to all key features.