Asset Management

Get More Spend Under Management. Asset tracking plus procurement - a perfect match.

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Do you know total cost of ownership for your assets?

All organizations own assets and it can be easy to overlook the costs these pieces incur. If you're not accessing full visibility into your asset lifecycle, you're missing out on vital spend data that can help you optimize another area of operational spending, forecast large expenses, see the total cost of ownership of a particular asset, and buy smarter in the future.

Difficulty Keeping Up with Required Maintenance

Manually keeping up with the proper maintenance schedules and required servicing is very tedious if you do not have automation. You're probably feeling this pain if you have no way of setting maintenance reminders, easily procuring services and placing work orders, and ensuring all maintenance is being completed for your assets. This can lead to a number of issues including warranties becoming invalid because the required maintenance has not been performed.

No Total Cost of Ownership Figures

If you aren't tracking spending on your assets from the initial purchase on to maintenance and repairs, you have no idea how much it costs you to own that particular piece of equipment. This becomes problematic when you're trying to:

  • Perform cost comparisons for purchasing new assets.
  • Properly depreciate these assets each year.
  • Forecast large expenses and future spending.

No Visibility Over Assets

Tracking assets can be challenging in a manual environment. You're probably nodding your head while reading this if you:

  • Cannot easily access the location of your assets.
  • Do not have the condition of your assets documented.
  • Have assets on the books that aren't physically present.
  • Have physical assets that are not recorded in the books.
  • Are not sure how much you're spending on assets.
Track Your Assets with Basware Asset Manager

Track Your Assets with Basware Asset Manager

Basware Asset Manager enables you to better understand how your organization is spending money on assets, when assets should be retired, and when new assets will be purchased. You'll always know where your assets are, the condition of those assets, and be to properly depreciate them.  Ultimately, you'll get more spend under management and know how much in total it cost you to own each asset. 

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"Our requirements also called for a solution that could help us better track the total cost of asset ownership and enhance capital expenditure decision...We chose Basware for a host of reasons."

Valerie Gaither, VP of Procurement and Fleet Administration for AMR

How Asset Manager Helps You

The more you can automate, the more you can streamline and get spend under control. Automating asset management alongside procurement gives you greater visibility into another area of spend and helps you to simplify operations and spend smarter.

Asset Lifecycle Management

Understand the total cost of ownership with asset lifecycle management. Track every expense on your assets including the purchase, servicing, and maintenance, and conduct cost comparison in the future.

Asset Visibility

Know where your assets are at all times and log the conditions in Asset Manager. Avoid the dreaded "zombie and ghost" assets that organizations suffer from when they have assets on their books that aren't physically present and/or assets that are physically present but not documented.

Learn more about Zombie and Ghost assets.

Improved Accounting

Properly depreciate assets, get documentation that makes audits easier, and forecast large expenses on assets for the future.

Features of Asset Manager

Spend Capture

Know how much it costs to buy, service, and maintain assets, and conduct cost comparison in the future:

  • Request new assets and order repairs and services on existing items
  • Make more strategic investment decisions by gaining better visibility into all assets’ historical, current, and projected utilization and performance
  • Record all actions related to assets for easy access later.

Asset Tracking

Know where your assets are at all times and log the conditions in Asset Manager:

  • Keep a thorough audit trail, track a variety of actions, and view complete asset history
  • Increase accountability for loss/theft prevention through asset assignment
  • Identify and divest unused assets
  • Make sure temporarily out-of-service assets are re-deployed effectively when appropriate.

Integrated Work Order Capabilities

By integrating work orders with your asset management and procurement processes you can:

  • Automatically generate work orders associated with maintenance schedules so users don’t have to manually track these tasks
  • Generate work orders within the system and send them automatically to approved vendors or internal technicians
  • Communicate electronically during the service process using the optional vendor portal, which also accommodates electronic invoicing to reduce paperwork.