Core features of Microsoft Dynamics 365 Asset Management
The Asset Management module is designed to provide comprehensive functionality for managing an organization’s assets throughout their entire lifecycles. This functionality includes the following capabilities:
1. Asset tracking
Asset Management serves as a central repository for the data on a company’s assets, providing ERP system users with a holistic source of asset-related information. This data includes various aspects such as asset condition, location, and maintenance history.
Efficient asset tracking with Asset Management is facilitated by real-time data collection enabled by integration with the Internet of Things (IoT). Additionally, the module supports tracking compliance with industry regulations.
2. Asset Maintenance
Microsoft Dynamics 365 Asset Management includes several features to facilitate the processes required for effective asset maintenance. Some of these features are:
– Preventative measures
Asset Management aims to enhance preventative maintenance routines, supported by features allowing the scheduling and management of preventive maintenance tasks.
– Resource scheduling
Maintenance tasks can be streamlined further through resource scheduling functionality, improving resource allocation, including tools and equipment required for asset maintenance.
– Work order management
The work order management feature simplifies the process of creating, assigning, and tracking work orders for asset maintenance, facilitating faster issue resolution.
- Financial insights
Asset Management includes functionality for depreciation management, combining features for financial reporting, and assessing compliance with accounting standards. This provides organizations with data helpful for making better-informed decisions on investments into asset replacement and upgrades.
- Mobile access
In addition to the general availability of data, Asset Management provides field workers with enhanced flexibility through mobile access to necessary information related to assets.
Benefits of Microsoft Dynamics 365 asset management
Managing your assets with a dedicated solution from Microsoft can provide a range of advantages to your company. One of them is the significant reduction in downtime due to a more efficient maintenance routine for your assets. Minimized operational disruptions not only help reduce losses stemming from downtime but also minimize the impact on customer satisfaction.
Robust functionality for asset tracking, empowered by IoT integration, gives users real-time insights into the condition of assets and helps predict maintenance needs more accurately, contributing to more effective decision-making.
On the other hand, extending asset lifespan helps businesses increase their profit by reducing expenses associated with repair works and investments in new assets.
Meanwhile, due to better asset visibility and the ability to track regulatory compliance, companies can align their assets with industry standards more easily, helping them avoid legal issues.
Moreover, dynamic tracking of assets and digital support for proactive asset management and maintenance are necessary components of high adaptability to changing needs and business priorities.
Use cases for Microsoft Dynamics 365 Asset Management
Undeniably, a manufacturing plant is one of the most obvious examples of a company that can benefit from Microsoft Dynamics 365 Asset Management. This solution helps the enterprise optimize preventative maintenance for production equipment critical to business workflows.
However, this is just one of the numerous scenarios in which Asset Management can bring real value to companies. The module can be used to improve maintenance for virtually any type of assets, whether they are used for generating profit or not.
For instance, an IT service company can benefit from advanced asset maintenance to manage the lifecycles of critical IT equipment, including networking systems and computers.
Meanwhile, an organization in the healthcare sector, that does not produce goods, can rely on Asset Management to maintain a wide range of medical equipment. This includes patient monitoring equipment like electrocardiogram machines, diagnostic imaging equipment such as MRI and X-ray machines, CT Scanners, life support and critical care equipment, laboratory devices, laser systems used for surgical procedures, and many others.
Advanced asset maintenance with Asset Management can help a healthcare organization prolong the life of critical devices and increase their availability for patients.
A fleet of vehicles used by a transportation or logistics company can also be effectively managed with the module. Additionally, entire facilities can be regarded as assets by the Asset Management module.
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Microsoft Dynamics 365 Asset Management for enhanced asset maintenance
The larger the organization and the more assets it possesses, the more complex the management tasks become, leading to downtime, reduced asset lifespan, and increased maintenance costs. Microsoft Dynamics 365 Asset Management is equipped with features to simplify the maintenance process, significantly reducing associated expenses and the need for asset replacement, contributing to savings and subsequently increasing the company’s profit.
